U3 AOS2 Flashcards
(20 cards)
Human Resource Management
An individual or group that who is responsible for the organization of employees roles, pay, and working conditions.
Key HR Responsibilities)
-Recruitment -Motivation
-Performance Management
-Dispute Resolution.
How does HRM relate to achieving Business Objectives?
The interest of HRM share the same interest as the business. They both want employees to succeed and work better towards fulfilling business objectives.
An example of this is HRM motivating the employee, this could further an employees willingness to complete their work, furthermore leading to efficiency being improved.
What are the motivational strategies
-Performance related pay
-Career advancement
-Investment in training
-Support
-Sanction
Performance related pay
A salary or wages system based on how well an employee works. The greater the production such as more sales, the greater the income. An example of this is car salespeople and real estate agents.
Strengths
-Very personal goal focused
-Can be very powerful and motivating.
Weaknesses
-Becomes competitive
-Loss of focus on broader objectives.
-Can bring disputes
Career Advancement
The prospect and opportunity of developing your career through being promoted or taking on new roles.
Strengths
-Employees may develop broader skill and knowledge which can help with long-term goals.
Weaknesses
-Very selfish and competitive.
-Hard to focus on team goals.
-May lose focus on business objectives.
Investment in training
When a business pays for training programs to develop employees’ skills and knowledge to make them more efficient and effective in their role.
Strengths
-Usually very targeted at business objectives.
-Leads to productivity gains and quality improvements.
-Can create cohesion between colleagues.
Weaknesses
-Can be financially expensive.
-The employee will take your investment with them if they leave the business.
Support as a motivational strategy
Involves the manager mentoring the employee, instilling belief and aspiration in them, and helping them overcome problems and seize opportunities.
Strengths
-Employees feel valued and respected
-Financially cheaper
-Manager gets to be involved with the motivational process.
Weaknesses
-May take a long time to reap benefits
-Takes time for management to meet and support the employees.
Sanction as a motivational strategy
Refers to punishments for failure to meet or comply with a business objective. The sanction could come in the form of a pay penalty, a loss in promotional opportunity or requirement to complete the task again.
Strengths
-Can be very powerful for employees motivated by fear.
-Can lead to focused and predictable responses.
Weaknesses
-Does not support employees making mistakes.
-Very short-term focused
-Builds a negative culture.
Mediation
A method of dispute resolution where an independent third party will help the parties talk about their issues and arrive at their own agreement.
Strengths
-The outcome will be a win/win.
-Less formal and less time consuming.
Weaknesses
-No guarantees the dispute will be resolved.
-There is no legally binding decision therefore the decision may be dismissed.
Arbitration
A method of dispute resolution where an independent third party will listen to both parties and make a legally binding decision.
On-The-Job Training
Advantages
-Reduced costs compared to off-the-job.
-Employees learn specific skills directly related to the job.
-New staff will learn tricks from the employees with firsthand experience.
Disadvantages
-Production might take a hit during training.
-New staff could learn bad habits from the existing employees
-Trainees are unlikely to learn broader skill.
Off-the-job Training
Advantages-
-Staff completing training will be less distracted.
-Trainees may learn additional broader knowledge.
-Employees may return from training with qualifications.
Disadvantages-
-Cost the business more.
-It could be difficult for the employees to integrate the learned skill into their specific workplace.
Retirement
A voluntary form of termination that occurs when an employee decides to permanently leave the paid workplace
Redundancy
Redundancy when an employee either…
-Doesn’t need an employees job to be done anymore, or
-The business becomes bankrupt or cannot afford to pay its staff.
It can be voluntary or involuntary.
Resignation
Voluntary termination that occurs when an employee chooses to leave the business, usually to go to another job.
Dismissal
Involuntary termination of employment by an employer if they fail to meet required work standards or they display unacceptable or unlawful behavior.
Entitlement considerations
-Any outstanding wages or other remuneration still owing.
-Any pay in lieu of notice of termination.
-Any accrued annual leave and long service leave entitlements.
Performance Management Strategies
-Management by objectives
-Performance Appraisals
-Self-Evaluation
-Employee observation
Performance appraisals
