HRM
Strategic approach to the effective management on an organization so workers help business gain competitve advantage.
Workforce plan
Forecasting the number of workers and skills required by organization to achieve its objectives
Advantages of workforce plan (4)
Disadvantages of workforce plan (3)
Labor turnover
Rate at which employees leave an organization at a certain time period. Lower labor turnover rate is better for the business
Labor turnover formula
number of employees left in one year/ total number of employees x100
Advantages of labor turn over (2)
Disadvantages of labor turn over (2)
Recruitment
Regarded as the process that identifies the need for a new employees, defines the job, draws up a profile of an ideal candidate for the job and advertises it to attract suitable candidates
Internal recruitment
Firm advertises within business premises to fill new or vacant positions. Often done through notice boards or company emails
Advantages of Internal recruitment (3)
Disadvantages of internal requirement (3)
External recruitment
When firms advertise position outside the business premise for example in universities, newspapers, career websites
Advantages of external recruitment (3)
Disadvantages of external recruitment (3)
Selection
Process in which candidates are shortlisted and screened and the most suitable ones are chosen
Selection Techniques (3)
Employment Documents (4)
Job advertisement
Advert that contains sufficient information to attract and engage potential employees. It is advertised in newspaper, internet or magazines depending on the type of job.
Job Description
This is a detailed list of key points about the job to be filled. It contains all the relevant details about the job from the title to the tasks and responsibility. This helps both the employer and the employee.
Person Specifcation
List of skills qualities and qualifications that an applicant’s needs to have for a specific job. Example: good communication skills, bachelor’s degree and extrovert personality for a sales job
Contract of Employment
Legal agreement between an employer and employee which highlights the terms and conditions of the employment arrangement. It includes all the details of the job like the employee details, job title and description, holiday, hours of work etc
Advantages of Contract of employment (2)
Disadvantages of Contract of employment (2)