CHAPTER 17 Flashcards
(5 cards)
Functional area of HRM
Recruitment + selection
T&D
Employee rewards + benefits
Industrial relations
WH&S
Separation/termination
KPI of effective HRM
Recruitment + selection - Applicant rejection vs acceptance rates + recruitment costs
T&D - Costs, outcomes(e.g changes in productivity) + promotion rate
Employee rewards + benefits - Cost, abstinence rates/total hours worked, R&B compared to other businesses
Industrial relations - Time lost through disputes + grievance records
WH&S - Accident rates + compensation costs/payroll
Separation/termination - Separation, dismissal + resignation rate & unfair dismissal claims
Most common KPI used to benchmark HRM
- Financial indicators of each employee (e.g sales per employee)
- Contribution to predictions (e.g output per employee)
- Staff turnover, absenteeism + job satisfaction
- Accidents + level of disputation
- Corporate culture
- Benchmarking key variables ( productivity of workers)
- Level of disputation
Role of HR manager in using these indicators:
- Communicate company vision + strategy to employees
- Developing employees to improve performance
- Evaluate performance & provide coaching + feedback in formal reviews
- Link rewards to performance measures
why do they use benchmarking
compare business performance between internal sections of a business or between businesses
