CHAPTER 10- HRM

A set of vocabulary flashcards covering key HRM concepts and terms drawn from the notes.

Human Resource Management (HRM)

The strategic approach to the effective management of an organization's workers so that they help the business gain a competitive advantage.

Workforce planning

Forecasting the future numbers of employees and the skills required, often including a workforce audit to identify gaps.

Recruitment

The process of identifying a need for a new employee, defining the job, and attracting suitable candidates.

Selection

The series of steps (interviews, tests, screenings) used to choose the most suitable candidate.

Job description

A detailed list of the key points about a job, including tasks, responsibilities, position in the hierarchy, working conditions, and how performance will be measured.

Employment contract

A legal document outlining terms and conditions of employment, responsibilities for both sides, and whether the job is permanent or temporary, hours, pay, holiday, and notice.

Dismissal

The termination of employment due to incompetence or breach of discipline, i.e., fault of the employee.

Redundancy

The termination of a job because the position is no longer required, often due to automation, cost-cutting, falling demand, relocation, mergers, or outsourcing.

Unfair dismissal

Dismissal deemed unfair by law, such as pregnancy, discrimination, or union membership; may lead to legal action.

Fair dismissal

Dismissal justified by factors like inability to do the job after training, persistent negative attitude, safety violations, or misconduct.

Employee morale

The overall outlook, attitude, and satisfaction of employees; high morale can boost productivity and reduce turnover.

Employee welfare

Services and benefits provided by an employer for employees' well-being, including safe working conditions and hygiene facilities.

Work-life balance

A situation in which employees can allocate appropriate time between work and personal life outside work.

Equality policy

Policies and practices aimed at achieving fairness by treating everyone equally and without prejudice.

Diversity policy

Policies aimed at creating a diverse workforce and valuing diversity in the workplace.

Intrapreneur

An employee who develops an innovative idea or project within a company, often with access to its resources.

Training

Work-related education to increase workforce skills and efficiency.

Induction training

Introductory training to familiarise new recruits with systems, layout, and essential procedures.

On-the-job training

Training conducted at the place of work, often led by managers or trainers and tailored by the business.

Off-the-job training

Training away from the workplace, in a centre or external provider; can be expensive but introduces new ideas.

Appraisal

The process of assessing an employee's performance against pre-set targets, often annually, to guide development.

Multi-skilling

Training an employee in several skills to increase flexibility within the business.

Poaching

Recruiting well-trained employees from another organization.

Labour turnover

The rate at which employees leave the organization; formula = number of employees leaving in a year divided by the average number of employees.

Internal recruitment

Filling vacancies from within the existing workforce; faster, cheaper, and familiar with the organization.

External recruitment

Filling vacancies from outside the organization; brings new ideas and a larger candidate pool.