3.6.1 Flashcards
human resource management (12 cards)
what does HR include?
- staff wellbeing
- payroll
- manage benefits e.g. discounts
- recruitment
- training
- firing - disciplinary and redundancies
- complying with employee/employer legislation
- implementing strategies to improve engagement
what are the two approaches to human resource management?
- hard HRM
- soft HRM
what does hard HRM mean?
staff are viewed as a cost meaning staff are treated as a resource which must be effectively managed to control costs and levels of output - autocratic leadership
what does soft HRM mean?
staff are viewed as an asset meaning they are seen as t6here to contribute and help the business achieve their objectives - democratic leadership
what does it mean if staff is an asset?
- our most important asset
- permanent, secure job
- high-quality training
- high-value staff
what does it mean if staff is a cost?
- costs
- temporary jobs
- outsourcing/offshoring
- low-cost staff
what are the pros of having staff as an asset?
- staff feel valued -> increases motivation -> increase staff retention
-> increases productivity and efficiency -> improved brand reputation
what are the cons of having staff as an asset?
- time consuming and costly to implement and embed -> no guarantee that staff will stay
what are the pros of having staff as a cost?
total costs significantly reduced -> quicker to break-even -> not dependent on staff for success
what are the cons to having staff as a cost?
high levels of staff turnover -> continually having to retain staff
-> costs
what are employees to all businesses?
- the heart of the business
- without close and effective management a business risks losing them
what HR objectives do businesses set?
- employee engagement and involvement
- talent development
- training
- diversity
- alignment of values
- number, skills and location of employees
