topic 1.3.4 Flashcards
What does staff as an asset mean, and why is it beneficial for a business?
Employees are valued, trained, and invested in.
Businesses provide job security, training, and career development, which leads to higher motivation, loyalty, and productivity.
What does staff as a cost mean, and why is it not beneficial to a business?
Employees are viewed as an expense, with wages and benefits minimised.
Businesses focus on short-term contracts, outsourcing, and cost cutting.
Can lead to low morale and high staff turnover.
what are the different flexible workforce?
multi-skilling
part-time and temporary work
zero-hours contracts
flexible hours and home working
outsourcing
what do all the different flexible workforce mean?
multi-skilling: employees trained to perform multiple roles
part-time and temporary work: used for seasonal demand
zero-hours contracts: only work when needed
flexible hours and home working: employees choose work hours
outsourcing: company hires a third party to perform tasks, handle operations or provide services for the company
What are the advantages and disadvantages of multi-skilling?
adv: Increases flexibility, improves job satisfaction, reduces costs
dis: training costs, risk of employee burnout.
What are the advantages and disadvantages of part-time/temporary work?
adv: Cost-effective, flexible for employees
dis: less comitment, high turnover
What are the advantages and disadvantages of a zero-hour contract?
adv: businesses reduce costs, employees gain flexibility
dis: unstable income, can cause financial stress for employees
What are the advantages and disadvantages of flexible hours/home working?
adv: Improves work-life balance, increases productivity
dis: harder to manage remote teams, risk of isolation
What are the advantages and disadvantages of outsourcing?
adv: reduces cost
dis: loss of control
define dismissal?
employee is fired for poor performance
define redundancy?
job role is no longer needed
what are the costs of recruitment traning?
Advertising Jobs
Interview Process
Training Costs
Lost Productivity
What are the different types of training?
induction training
on-the-job training
off-the-job training
What are the advantages and disadvantages of the different types of training?
induction training:
adv: improves retention, reduces error
dis: time consuming and costly
on-the-job training:
adv: Practical experience, cost-effective.
dis: can slow down productivity
Off-the-job training:
adv: higher quality training and specialist knowledge
dis: employees may leave after training, expensive
What is the chain of command?
The flow of instructions from top management to employees
What is span of control?
number of employees managed by one supervisor
What are centralisation and decenteralization?
Centeralization: decision made at the top level
decenteralization: decisions spread across departments
what is the tall organisational structure and its pros and cons?
Many layers, narrow span of control.Common in large corporations.
Pros: Clear chain of command.
Cons: Slow decision-making
what is the flat organisational structure and its pros and cons?
Few layers, wide span of control. Common in startups and tech firms.
Pros: Faster communication.
Cons: Managers may be overstretched.
what is the matrix organisational structure and its pros and cons?
Employees work across multiple departments/projecs
Pros: Encourages teamwork; flexible.
Cons: Confusing authority lines.
What are the 4 motivational theories?
taylors-sientific managment
mayos-human relations theory
maslows-hiearchy of needs
herzbergs-two factor theory
what are the financial ways to keep an employee motivated?
Piecework: Paid per unit produced.
Commission: Paid per sale made.
Bonuses: Extra payment for performance.
Profit Sharing: Employees get a share of profits.
Performance-Related Pay: Based on targets met.
What are some non-financial ways to keep an employee motivated?
Delegation: Giving employees more responsibility.
Consultation: Employees involved in decision-making.
Empowerment: More autonomy & trust.
Team Working: Collaborative work improves engagement.
Flexible Working: Work-life balance improves morale.
Job enrichment/rotation/enlargement: Makes work more interesting.
