Human Resource management

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6 Terms

1

HRM

The Strategic approach to the effective management of employees so that they help the business gain a competitive advantage

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2

Workforce Planning

Forecasting the number of workers and the skills that will be required by the organisation to achieve its objectives

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3

Workforce audit

A check on the skill and qualifications of all existing workers / managers

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4

Factors that affect the demand of employees

  • Forecast Demand for the product

  • The productivity level

  • the objectives of the business

  • Changes in the law regarding worker’s rights

  • The labour turnover and absenteeism rate

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5

Labour Turnover

The measures the rate at which employeesare leaving an organisation:

(Number of employees leaving in 1 year)/(average number of people employed) * 100

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6
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