Human Resource Management

Human Resource Management (HRM)

A strategic approach to managing employees effectively, focusing on recruiting, developing, and retaining talent.

Role of HR

Involves managing recruitment, training, performance, compensation, employee relations, legal compliance, and succession planning.

Recruitment & Selection

The process of identifying, attracting, and hiring the right talent.

Training & Development

Providing employees with necessary skills and knowledge to perform effectively.

Performance Management

Evaluating employee performance and providing feedback to improve productivity.

Compensation & Benefits

Designing competitive salary structures and benefits to retain talent.

Employee Relations

Ensuring a positive work environment and resolving conflicts.

Legal Compliance

Adhering to labor laws and regulations to avoid legal issues.

Succession Planning

Preparing for future leadership changes by developing internal talent.

Workforce Planning

Analyzing and forecasting an organization's future workforce needs.

High Labor Turnover

The rate at which employees leave a company, which can lead to increased costs and reduced morale.

Causes of High Labor Turnover

Low job satisfaction, poor conditions, lack of growth opportunities, better offers, ineffective management.

Implications of High Labor Turnover

Increased recruitment costs, loss of experienced employees, and potential positive effects like fresh talent.

Organizational Structure

The arrangement of employees, hierarchy, and communication channels within a company.

Hierarchical Structure

A traditional structure with a clear chain of command.

Flat Structure

A structure with fewer management levels allowing for quicker decision-making.

Matrix Structure

A structure where employees report to multiple managers, enhancing collaboration but possibly causing conflicts.

Span of Control

The number of employees a manager oversees directly.

Chain of Command

The formal line of authority within an organization.

Delegation

Assigning tasks and decision-making authority to employees to improve efficiency.

Centralized Structure

Decision-making is concentrated at top management levels.

Decentralized Structure

Decision-making is distributed across different organizational levels.

Formal Organization

Defined by official hierarchies and reporting structures.

Informal Organization

Consists of social networks and relationships among employees.

Autocratic Leadership

A leadership style where the leader makes decisions without consulting employees.

Democratic Leadership

A style that involves employees in decision-making, promoting engagement.

Laissez-Faire Leadership

A style allowing employees total freedom in decision-making with minimal supervision.

Situational Leadership

Adapting leadership styles based on the team and circumstance.

Taylor’s Scientific Management

A theory suggesting employees are primarily motivated by financial rewards.

Maslow’s Hierarchy of Needs

A model proposing five levels of needs employees strive to satisfy.

Herzberg’s Two-Factor Theory

Identifies hygiene factors and motivators influencing job satisfaction.

Adams’ Equity Theory

Suggests employees evaluate their input and output in comparison to others.

Intrinsic Motivation

Motivation driven by internal satisfaction and personal interest.

Extrinsic Motivation

Motivation driven by external rewards such as salary and recognition.

Financial Motivators

Incentives that include salary, bonuses, and profit-sharing.

Non-Financial Motivators

Focus on job satisfaction and career development opportunities.

Effective Communication

Crucial for enhancing employee engagement and improving decision-making.

Barriers to Communication

Factors that hinder effective information flow, such as language differences or psychological biases.

Recruitment Process

The series of steps taken to attract and hire candidates for job vacancies.

Selection Process

The method of choosing the best candidates from the applicant pool.

Training Methods

On-the-job and off-the-job training processes to enhance employee skills.

Induction Programs

Programs to welcome and orient new employees to the company.

Appraisal Methods

Different methods used to evaluate employee performance, such as 360-degree feedback.

Employee Relations

Refers to the relationship between employers and employees, crucial for productivity.

Negotiation

The process of discussing employment terms to resolve workplace issues.

Conflict Resolution Strategies

Methods to resolve workplace disputes and maintain a positive environment.

Redundancy and Dismissal

Types of termination where jobs are no longer needed or performance issues arise.

Workforce Planning Strategies

Methods to ensure the organization has the right number and type of employees.

Changing Employment Patterns

Evolving trends in job arrangements such as the gig economy and remote work.

Outsourcing

Hiring external firms to manage specific business functions.

Globalization Impact on HR

The effects of expanding business operations across borders on HR practices.

Hofstede’s Cultural Dimensions

A framework for understanding cultural differences in workplaces.

Crisis Planning in HRM

Strategies to prepare and respond to unexpected disruptions.

Succession Planning

Identifying and developing employees for key leadership roles.