business

Human resource management 

Human resource management is the organisation of employees’ roles, pay, and working conditions.

Motivation

Motivation is the willingness of an individual to expend energy and effort in completing a task.

Maslow’s Hierarchy of Needs 

Maslow’s Hierarchy of Needs is a motivational theory that suggests people have five fundamental needs, and their sequential attainment of each need acts as a source of motivation.

Physiological needs 

Physiological needs  are the basic requirements for human survival, such as food, water, and shelter.

Safety and security needs 

Safety and security needs  are the desires for protection from dangerous or threatening environments.

Social needs

Social needs are the desires for a sense of belonging and friendship among groups, both inside and outside the workplace.

Esteem needs 

Esteem needs are an individual’s desires to feel important, valuable, and respected.

Self-actualisation needs 

Self-actualisation needs  are the desires of an individual to reach their full potential through creativity and personal growth.

The Four Drive Theory 

The Four Drive Theory  is a motivational theory that suggests that people strive to balance four fundamental desires

The drive to acquire 

The drive to acquire is the desire to achieve rewards and high status.

The drive to bond 

The drive to bond is the desire to participate in social interactions and feel a sense of belonging.

The drive to learn

The drive to learn is the desire to gain knowledge, skills, and experience.

The drive to defend 

The drive to defend is the desire to protect personal security as well as the values of the business.

The Goal Setting Theory

The Goal Setting Theory  is a motivation theory that states that employees are motivated by clearly defined goals that fulfil five key principles.

Performance-related pay 

Performance-related pay  is a financial reward that employees receive for reaching or exceeding a set business goal.

Career advancement 

Career advancement is the upwards progression of an employee’s job position.

Job enlargement 

Job enlargement involves combining various duties within an existing role.

Job enrichment 

Job enrichment involves an increase in the level of responsibility and complexity in an existing role.

Investment in training 

Investment in training  is allocating resources to improve employee skills and knowledge

Support strategies 

Support strategies  involve providing employees with any assistance that improves their satisfaction at work.

Sanction strategies 

Sanction strategies  involve penalising employees for poor performance or breaching business policies.

On-the-job training 

On-the-job training  involves employees improving their knowledge and skills within the workplace.

Off-the-job training 

Off-the-job training  involves employees improving their knowledge and skills in a location external to the business.

Management by objectives 

Management by objectives  involves both managers and employees collaboratively setting individual employee goals that contribute to the achievement of broader business objectives.

Performance appraisals 

Performance appraisals  involve a manager assessing the performance of an employee against a range of criteria, providing feedback, and establishing plans for future improvements.

Self-evaluation 

Self-evaluation involves an employee assessing their individual performance

Employee observation 

Employee observation  involves a range of employees from different levels of authority assessing another employee’s performance against a set of criteria.

Termination

Termination is the process whereby a business ends its employment contract with an employee

Retirement 

Retirement involves an individual deciding to leave the workforce permanently as they no longer wish to work

Redundancy 

Redundancy involves an employee no longer working for a business because there is insufficient work or their job no longer exists.

Resignation 

Resignation involves an employee voluntarily terminating their own employment, usually to take another job position elsewhere.

Dismissal 

Dismissal involves the involuntary termination of an employee who fails to meet required work standards or displays unacceptable or unlawful behaviour.

Entitlement considerations

Entitlement considerations are legal obligations an employer owes to its employees following the termination of their employment contract.

Transition considerations 

Transition considerations  are social and ethical practices that a manager can consider implementing when terminating employment.

Human resource managers

Human resource managers are individuals who coordinate the relationship between employees and management within a business.

Employees 

Employees are individuals who are hired by a business to complete work tasks and support the achievement of its objectives.

Employer associations

Employer associations  are advisory bodies that assist employers in understanding and upholding their legal business obligations.

Unions 

Unions are organisations composed of individuals who represent and speak on behalf of employees in a particular industry to protect and improve their wages and working conditions

The Fair Work Commission (FWC) 

The Fair Work Commission (FWC)  is Australia’s independent workplace relations tribunal that has a range of responsibilities outlined by the Fair Work Act.

Awards

Awards are legal documents that outline the minimum wages and conditions of work for employees across an entire industry

Agreements

Agreements are legal documents that outline the wages and conditions of employees and are applicable to a particular business or group of businesses.

A dispute resolution process

A dispute resolution process is a series of steps that disputing parties follow in order to resolve a disagreement and reach a resolution.

Mediation 

Mediation involves an impartial third party facilitating discussions between disputing parties to help each side of the conflict reach a resolution themselves.

Arbitration 

Arbitration involves an independent third party hearing arguments from both disputing parties and making a legally binding decision to resolve the conflict.