HR Flashcards
(17 cards)
Define a HR objective
A specific goal or target of, relating to the management and performance of Human Resources in a business
Define Human Resource management?
The design, implementation and maintenance of strategies to manage people for optimum business performance
Outline the reasons why HRM has become more important
Most businesses now provide services rather than produce goods
- people are the critical resource to deliver the required quality and customer service
Competitiveness requires a business to be efficient and productive
The move towards fewer layers of management hierarchy has placed greater emphasis on delegation and communication
Outline some common HRM objectives
Ensure Human Resources are employed cost effectively
- competitive pay rates
- minimise staff turnover
Make effective use of workforce potential
- ensure hobs have suitable, achieveable workloads
- avoid too many underutilised or overstretched staff
- make best use of employee skills
Match the workforce to the business needs
- having the right number of staff in the right locations
- training programmes to cover skills gaps or respond to market changes
Maintain good employer employee relations
- avoiding unnecessary industrial disputes
- complying with all relevant employment legislation
High employee engagement
Manage diversity well
Define hard HRM
Treats employees simply as a resource of the business
Define soft HRM
Treats employees as the most important resource in the business and a source of competitive advantage
Define talent development
Building the knowledge, skills and ability of employees and helping them develop their potential
Define diversity
Understanding that each employee is an individual and unique
Define labour turnover
Percentage of staff who leave during a period
Define labour productivity
Output per employee (in a given time period)
Define absenteeism
An employees intentional or habitual absence from work
Percentage of staff who are absent from work
Define labour retention
The ability of a business to convince its employees to remain in a business
Outline reasons why businesses lose staff
Retirement
Maternity
Death
Long term illness
Changes in strategy (e.g closure of locations)
Outline the labour turnover formula
(Number of employees leaving / average number employed during period) x 100
Outline the labour productivity formula
Output per period / number of employees at work
Outline the absenteeism formula
(Number of staff absent during period / number employed during period) x100
Outline how to calculate the labour cost per unit
Total labour cost / total level of output
