Human resources

Workforce Planning

The process of forecasting future staffing needs based on organizational goals and external trends.

Labor Turnover Formula

(Staff leaving during the year / Average number of staff) × 100.

High Turnover Implications

Can lead to increased recruitment costs and loss of productivity.

Types of Organizational Structures

Hierarchical, Flat, Matrix, and Shamrock structures.

Hierarchical Structure

A type of structure with clear lines of authority, suitable for large organizations.

Span of Control

The number of employees a manager supervises; can be wide or narrow.

Autocratic Leadership Style

A leadership style where the leader makes decisions unilaterally, which can be fast but may demotivate employees.

Maslow's Hierarchy of Needs

A motivation theory stating that individuals are motivated by satisfying needs from basic to self-actualization.

Conflict Resolution Methods

Negotiation, Arbitration, and Conciliation.

Hofstede’s Dimension of Power Distance

The degree of hierarchy in authority within a culture.

Outsourcing

The practice of obtaining services or goods from an external source, often to reduce costs.

E-recruitment

The use of online platforms like LinkedIn for hiring processes.

Delayering

The reduction of management levels to cut costs and speed up decision-making.

Trade Unions

Organizations that negotiate on behalf of workers for better wages and working conditions.

Gig Economy

A labor market characterized by short-term contracts and freelance work, lacking long-term job security.

Ethical HR Practices

Recruitment and employment practices that promote fairness, diversity, and respect for legal rights.

HR Analytics

The use of data and analytics to improve human resource management effectiveness.

Piece-rate Payment

A compensation method in manufacturing where workers are paid based on their output.

Motivators According to Herzberg

Factors such as recognition and achievement that encourage higher performance in employees.

Cultural Differences in Management

Variations in management practices and employee behavior shaped by cultural backgrounds.

Negotiation in Conflict Resolution

Direct discussions between parties aimed at resolving disputes.