Human Capital Management and General Management

A collection of flashcards covering essential vocabulary regarding human capital management, general management principles, and ethical considerations in business.

Human Capital Manpower Planning

Forecasting the number and type of employees needed, and the required skills within specific timeframes.

Internal Recruitment

Filling vacancies with existing employees.

External Recruitment

Hiring new talent from outside the organisation.

Selection Process

Identifying the best candidates from a pool of applicants through various steps such as receiving applications, evaluating, and interviewing.

Placement

Positioning an employee in the most suitable role based on their skills and the company's needs.

Induction (Orientation)

A structured introduction for new employees to familiarize them with the company, their role, and expectations.

Remuneration and Employee Benefits

Compensation for work, including salaries, wages, bonuses, and fringe benefits.

Employee Evaluation

Regular evaluations of employee performance to assess their productivity, effectiveness, and alignment with company goals.

Employee Retention

Strategies to reduce turnover by keeping employees engaged, motivated, and satisfied.

Labour Relations Act (LRA)

Aims to promote fair labour practices, enforce rights guaranteed in the Constitution, and foster social justice in the workplace.

Substantive Fairness

Refers to the reason for dismissal being fair and justified.

Procedural Fairness

Ensures that the processes followed during dismissal are fair, allowing for a hearing and representation.

Strikes

Collective work stoppages by employees to enforce demands.

Commission for Conciliation, Mediation, and Arbitration (CCMA)

An independent body to facilitate the resolution of labour disputes.

Employment Equity Act (EEA)

Promotes fair treatment and affirmative action in the workplace.

Skills Development Act (SDA)

Aims to improve skill levels of employees in South Africa.

Basic Conditions of Employment Act (BCEA)

Sets minimum standards for working conditions and fair treatment of employees.

Broad-Based Black Economic Empowerment Act (BBBEE)

Aims to address inequalities by promoting black ownership and management in businesses.

Management Levels

Defines who makes decisions at different stages in the organization: Top, Middle, and Lower Management.

Management Styles

Different approaches managers use based on the situation, including Democratic, Autocratic, and Laissez-faire.

Corporate Governance

The system by which companies are directed and controlled, ensuring accountability and transparency in management.

Social Responsibility in Business

A business's commitment to ethical practices contributing to social, economic, and environmental development.

Professional Codes

Regulates the behavior of professionals in specific fields, guiding ethical and professional conduct.

Conflict of Interest

Arises when an individual can exploit their position for personal benefit.

Corporate Social Responsibility (CSR)

A business's commitment to contribute to sustainable economic development while improving the quality of life of the workforce and their families, the local community, and society at large.