Human Resource Management Review Notes

Vocabulary flashcards covering core Human Resource Management concepts, recruitment steps, compensation, dismissals, organizational culture, and motivational theory.

Human Resource Management (HRM)

Developing people within a business to meet the objectives of the firm.

Human Resources (HR)

The people who work for a business.

Job Analysis

The study of a job to identify its job duties and skill requirements.

Characteristics of a Good Job Advertisement

Having clear salary pay upfront, listing only true qualifications, and explaining clear responsibilities.

Advantages of Training

From a business perspective, produces a skilled workforce, results in less wastage, and leads to increased morale.

Disadvantages of Training

From a business perspective, it is expensive, time consuming, and involves opportunity cost.

Wage

A method of compensation that is paid on an hourly basis.

Salary

A compensation method that is fixed and does not change yearly based on hourly hours worked.

Purpose of an Appraisal

To provide a clear property value and evaluation.

Required Benefits

Mandatory employee benefits that include overtime, Social Security, and Medicare.

Optional Benefits

Elective employee benefits including life insurance, dental, vision, vacation, and retirement.

Factors Impacting Demand for Jobs

Economic, technical, and demographic influences that affect workforce demand.

Fair Dismissal

Firing an employee for a legitimate reason, such as incompetence, misconduct, gross misconduct, or excessive absences.

Unfair Dismissal

Unlawful termination based on discrimination, such as firing an individual for race, religion, or gender.

Financial Motivation

Monetary incentives used to motivate employees, such as wages and bonuses.

Non-financial Motivation

Non-monetary methods used to drive performance, such as positive workplace practices and promotions.

Organizational Culture

The shared values, culture, and attitudes that make up part of the work environment.

Workforce Diversity Benefits

Organizational advantages including broader skills, varied perspectives, and increased creativity.

Autonomy (Dan Pink)

The intrinsic motivation driver defined as the desire to direct your own life.

Purpose (Dan Pink)

The intrinsic motivation driver defined as the yearning to do something larger than ourselves.

Mastery (Dan Pink)

The intrinsic motivation driver defined as the urge to get better at something that matters.

Recruitment Process (Order of Steps)

1. Perform job analysis; 2. Write job advertisement; 3. Advertise the vacant post; 4. Screen applications / short-listed candidates; 5. Interview process; 6. Test the aptitude of candidates; 7. Check candidate references; 8. Offer job to best candidate; 9. Sign employment contract; 10. Carry out orientation of new recruit.