Unit 6 Flashcards
What is meant by Human Resource objectives?
Targets that the HR section of a business (responsible for all employee related issues) want to achieve in a given period of time.
Name potential Human Resource objectives
Employee engagement and involvement Talent development Diversity Alignment of values Training Number, skills and location of employees
What is meant by employee engagement/involvement and what are the positive effects of this objective?
Degree of commitment shown by employee to their work. Involvement is the amount of contribution made to work and decision making.
- motivated
- positive
- more innovative
What is meant by Talent Development and what are the positive effects of this objective?
Identify potential in employees and help them progress. Important to retain these employees as
talented employees have potential of growing business and achieving goals.
- New ways of thinking
- Increases performance
What is meant by the objective of Diversity and what are the positive effects of this objective?
.Respecting the fact that all employees are different. Ensure that personal differences do not hinder progress in the work place and that employees are not discriminated against in terms of: age, gender, religion, background.
- good public/brand image
- learnt from different cultures, believes…
What is meant by the HR objective of ‘training’ and what are the positive effects of this objective?
equipping employees with skills and knowledge to do their job effectively
- improve productivity
- high quality standards
- increase job satisfaction
- increase staff retention
What is meant by Alignment of values and what are the positive effects of this objective?
Bringing the CORE VALUES of all employees together to focus on achieving a common aim.
- Strong corporate culture
What is meant by the objective of ‘Number, skills and location of employees’ and what are the positive effects of this objective?
Matching workforce skills size and location to business needs.
- enable all aspects of business to function
What is the difference between soft and hard HRM?
/
What are the benefits of soft HRM
- Motivation
What are the drawback of soft HRM?
-
What are the benefits of hard HRM
v
What are the benefits of
What information would a HR manager want to know?
- Labour cost per unit
- Retention rates
- Labour productivity
- Employee costs as a percentage of turnover
What is meant by human resource data?
quantifiable information that can be used to measure workforce performance
How do you calculate labour turnover?
of staff leaving
over x 100
Average # of staff
What is a retention rate?
Measure of a firm’s ability to keep its workforce (one year)
What are problems associated with high labour turnover and low retention rates?
High labour turn over is the number of people that leave the business. This could result in low employee moral, skill shortage and high costs in terms of recruitment.
Low retention rate is the
How to calculate retention rate?
amount of staff that stay per year
amount of staff on average that stay/
What is meant by labour productivity?
A measure of workforce performance that looks at output per worker
How do you calculate labour productivity?
Total output
over ———–
of workers
How do you calculate employee cost?
employee costs
x 100
revenue
What factors inf
week 20
How do you calculate labour cost per unit?
Total labour costs
Total output
What is meant by labour costs per unit?
A measure of the average employee cost per unit of output
what are labour costs per unit are affected by?
labour productivity
average employee costs
What would HR data enable the manager to do?
identify areas of improvement to come up with appropriate HR strategies
What are key measurements of workforce performance?
Labour productivity
Employee costs as percentage of turnover
Labour cost per unit
Labour turnover and retention
What are way of improving productivity?
Training
New technology
Set targets
