Investing In People Flashcards
(33 cards)
Succession planning : definition
Key function of any HR department is to ensure that the firm has the right number of staff with the right skills to meet its needs both now and in the future.
Succession planning involves planning methods :
Analysing current employment situation
Forecasting employee demand ie no. of staff needed in future
Forecasting future supply of employees ie state of labour market
Predicting labour turnover
Recruitment, selection, training and retaining staff or redundancy
People investment planning : brief summary
About recognising that people are the most valuable resource in the firm - they are needed to strategically and tactically plan the business’ future and to work in all functional areas.
Advantages of PIP :
Management can : Plan for future Identify future skills shortages Identify training needs Retain and motivate employees by demonstrating career paths
Disadvantages of PIP
Difficult to accurately predict requirements
Change in economic climate can result in recession or boom
Careful that future plans don’t demotivate staff
Doesn’t consider future commitment of employees to organisation
Benefits of PIP :
Ensures firm has sufficient and appropriately skilled workforce to meet its objectives
Enables firm to avoid labour shortages and ensure production continues meaning customer demand is met on time with high quality
Allows business to compete more effectively
Without PIP :
Recruitment and selection process may not find right skills
Staff within firm may be trained inadequately for new processes
Morale and motivation problems if staff are expected to cover shifts
Costs will increase and long term competitiveness damages
Not prepared for events
Labour turnover : definition and equation
Current staff may leave or get promoted and this creates a vacancy that needs to be filled.
(No. of staff leaving / average no. of staff ) x 100
Job analysis : definition
Process of gathering and analysing info about content and human require tons of jobs.
Job description : definition
Usually produced by Human Resources, it sets out the job requirements, states the title of the job, outlines the tasks, duties and responsibilities associated with job.
Person specification : definition
Provides the details of the qualifications, experience, skills, attitudes and other characteristics that would be expected of someone appointed to do the job.
Internal recruitment : definition
Recruitment from within abusiness. An employee may be chosen to be offered a post, or employees may be asked to apply. It may be sent around via email or company newsletter.
External recruitment : definition
When someone is appointed from outside the business. It requires the employer to communicate with the potential employees. This method allows the maximum number of candidates to choose from.
Difference between recruitment and selection :
Recruitment is finding the right person for the job. This can be costly and time consuming.
Selection when the right people are more likely to be selected if the job description and person specification are draw up.
Benefits of training staff :
Improve productivity through more effective ways of work
Increase flexibility as workers can do more than one job
Improve standards of work to improve quality
Induction : definition
Designed to help new employees settle quickly into the business and their job. Most induction training attempts to introduce workers to the nature of the business and work practises.
Difference between on the job and off the job training :
On the job is given in the workplace by employer whereas off the job takes place outside the business by an external training provider.
Two advantages and disadvantages of on the job :
+ trainees learn by actively doing
+ easy and cheaper to organise
- output lost is mistakes made
- dangerous to others eg surgeon
Two advantages and disadvantages of off the job training :
+ can take place outside working hours
+ customers and others not put at risk
- can be expensive
- some aspects of work cannot be taught off the job
Methods of training :
Learning from other workers
Mentoring
Job rotation
Graduate training
What is a psychometric test ?
Help to identify a candidates skills, knowledge and personality. They’re often used during the initial screening stage or as part of an assessment centre. They’re objective, convenient and strong indicators of job performance.
Types of psychometric tests :
Personality test : explore your interests, values and motivations, analysing how your character fits with the role and organisation. Analyse your emotions, behaviours and relationships in situations.
Aptitude tests : assess your reasoning ability, determining wether you’ve got the right skill set for a role. Usually administered under exam conditions, you’ll often be given one minute to answer each multiple choice question.
Appraisal : definition
An assessment of an employee’s performance. It’s usually a formal meeting between and employee and their line manager once a year, during which employee is encouraged to reflect on achievements, workload, targets for next year.
What is continuous professional development :
Refers the the process of tracking and documenting the skills, knowledge and experience that you gain both formally and informally as you work. It’s a record of what you experience, learn and apply,
