Human Resources Business Management: Unit 2A Introduction to Human Resources

Flashcards covering key vocabulary and concepts in Human Resources Management, including recruitment, workforce planning, employee welfare, and training, based on IB and CAM syllabi.

Human Resources (HR)

The personnel (people) of a business, especially when regarded as an asset.

Human Resource Management (HRM)

The acquisition, training, motivation, and rewarding of the human resources within a business.

Organizational Objective

The stated result ("goal") a business wants to achieve.

Workforce Plan (Human Resource Plan)

Identifies the number of workers a business needs, as well as the skills those workers must have to achieve a business's objectives.

Labor Mobility

Measures how easily workers can relocate geographically and change occupations.

Demographic Changes

Population changes that impact workforce planning, including net birth rate, net migration, retirement age, and population age.

Labor Turnover

Measures the percentage of workers leaving the business over a period of time (typically one year).

Recruitment

The process of identifying, attracting, vetting, and hiring the best candidate for a position.

Job Description (JD)

A document that lists the responsibilities and duties for a particular job, including the "person" (or job specifications), knowledge, skills, and experience required.

Internal Recruiting

The process of promoting or redeploying current employees to a job vacancy.

External Recruiting

Pursuing candidates outside the business to fill a vacancy.

Curriculum Vitae (CV)

A longer, more thorough resume, common in Europe and in academia.

Employment Contract

A legal contract stating the terms and conditions of the employment.

Redundancy

Occurs when a job no longer exists, resulting in the employee's contract being terminated.

Voluntary Redundancy

Occurs when an employer offers extra compensation if an employee leaves.

Involuntary Redundancy

Occurs when employees have no choice and are selected for redundancy.

Dismissal (Firing)

When an employer terminates an employee's contract.

Unfair Dismissal

Illegal dismissal, protecting things like pregnancy, family issues, and union participation.

Employee Welfare

Refers to the amenities, programs, and benefits offered to support employee well-being.

Employee Morale

Refers to the level of satisfaction and overall well-being of a business's employees.

Work-Life Balance

Refers to the time an employee spends on work-related activities, as opposed to their time spent on non-work (personal) activities.

Diversity (in HRM)

Refers to the reality that individual employees are different from one another, often in significant ways that should be understood.

Equality (in HRM)

Refers to an ideal state wherein all employees, regardless of their differences, have the same workplace rights and opportunities.

Training

The process of an employer teaching an employee the knowledge, skills, and protocols they need to work at that business and in that role.

Induction Training

Introductory on-the-job training.

On-the-job Training

Learning from employees at the work site.

Off-the-job Training

Learning from external subject experts.

Development (Employee)

Activities designed to build the employee’s workplace knowledge and skills, representing a lasting investment in the employee.

Intrapreneurship

Encouraging employees to pursue ideas within a larger business.

Multi-skilling

Equipping employees to work in multiple areas of a business.