2 - HRM Flashcards
(21 cards)
Define labour turnover
Ratio of workers who leave a firm to those who remain
Why is labour important?
- Increased production
- Improved quality
- New ideas
- Better customer service/realtions
What does supply of labour depend on?
- Competition
- Rate of unemployment
- Internal workforce
- Cost of living
- Cost and availibilty of transportation
What are the effects of an ageing population?
- Change in emplyment patterns
- Reduced labour mobility
- Changes in consumption patterns
- Increased dependent population
What are demographic changes?
Changes within the statistical population of countries that affect supply of HR
Examples of demographic changes?
- Women in the workforce
- Net birth rate
- Mobility of labour
- Retirement age
- Unemplyment rates
- Net migration rate
Define workforce planning
Systematic identification and analysis of what a company needs in terms of size, quality and type of labour to achieve objectives
Why do employees change jobs?
- Challenge
- Location
- Advancement
- Money
- Prestige/pride
- Job security
Steps of the recruitment process?
- Vacancy arises
- Job description
- Personal specification
- Job advertisement
- Job application
- Shorlist applicants
- Interview/Testing/References
Rules for designing an effective ad?
- Truthful
- Relevant
- Accurate
- Positive
- Short
3 methods of application?
- Curriculum vitae (CV)/Resume
- Application form
- Covering letter
Advantages/disadvantages of internal recruitment?
\+Cost effective \+Motivational \+Quicker/easier \+Less risk -Few applicants -Internal politics
What are appraisals?
Assessments aimed at determining performance of employees
Reasons for appraisals?
- Assessing and recording performance
- Assess training needs
- Set new goals/objectives
- Reflection
- Assessing suitability for promotion
Advantages/disadvantages of appraisals?
\+Setting new goals \+Feedback from staff \+Objective praise \+Constructive criticism -Time consuming, difficult -Employees may take offence -Linked to pay
Methods of appraisal?
- Essay appraisal
- Self appraisal (appraising oneself)
- Upwards appraisal (employee to senior)
- 360 degree appraisal (collect opinions from colleagues)
- Rating system
- Peer appraisal (same level employee appraising)
- Management by Objectives
Objectives of training?
- Adapt to change
- Develop multi-skilled workers
- Improve quality
- Enhance efficiency
- Facilitate career & personal development
Induction training advantages & disadvantages?
\+Morale is boosted \+Good work ethic created \+Helps understand business culture \+Employee settles in quicker -Information overload -Trainers must be free -Planning is time-consuming
On-the-job training advantages/disadvantages
\+Cheap \+Convenient location \+Relevant training \+Establish relations with colleagues -Trainers become less efficient -May learn bad habits -Trainers may be inexperienced
Off-the-job training advantages/disadvantages?
\+Networking outside company \+Expert training \+No distractions \+Wider range of training -Expensive -Loss of output -Risk of desertion -Skills learnt may not be useful
Ways in whcih employee contracts can be terminated
- Retirement
- Redundancy
- Dismissal
- Resignation
