Chapter 16 AICE Business

human resource management

a long term plan for the management of an organizations human resources

hard HRM

an approach to managing employees that focuses on cutting costs

soft HRM

an approach to managing employees that focuses on their development so that they reach self fullfilment and are motivated to work hard and stay with the business

full-time employment contract

an employment contract that is for a complete working week

permanent employment contract

a contract that employs a worker unless they are dismissed, made redundant or decide to leave the organization

temporary contract

the contract is only offered for a fixed period of time, such as six months. The contract can be renewed, but the employer does not have to do this.

part-time contract

workers are only contracted to work for a certain number of hours each week (less than the full-time working week)

zero-hours contract

an employment contract that does not guarantee a minimum number of hours per week, but the worker is expected to be available for work when called by the employer.

gig economy

an employment mix in which temporary, flexible jobs are common and workers are hired as independent contractors or freelance employees (also known as contract labor)

compressed working hours

the number of hours per week of a full time job, but worked in fewer days (e.g. 4/10: working 4 days for 10 hours per day)

flexible employment contract

a contract that allows employees more control over their work-life balance, including options to work from home, flexible start and finish times, to work part-time or to job share

flexitime arrangement

a flexible way of working that allows employees to fit their working hours around their individual needs, and to accommodate other commitments outside of work

home working

when an employee works from home, often for a specific number of days per week, but keeps contact with the office by means of modern IT communications (also referred to as teleworking)

annualized hours contract

a contract offering a specific number of work over the whole year, but with some flexibility about when those hours are worked

job sharing

a work schedule in which two employees voluntarily share the responsibilities of one full-time job. They receive a salary and benefits on a pro-rata basis

shift work

work that takes place on a schedule outside the traditional 9:00am to 5:00pm day. It can involve evening or night shifts, early morning shifts and rotating shifts

absenteesim

a measure of the rate of workforce absence as a proportion of the employee total

management by objectives

establishing a management information system to compare actual performance and achievements against pre-set objectives for each department or employee