Buisness scaffold Q3

1.

Recruitment and Selection Strategy

Definition: Attracting and choosing the most suitable candidates to fill job roles.

Advantages:

• Brings in new skills and ideas

• Helps fill skill gaps quickly

• Can improve business performance with high-quality staff

Disadvantages:

• Can be time-consuming and expensive

• Poor hiring decisions can reduce productivity and morale

• High staff turnover if cultural fit is wrong

2.

Training and Development Strategy

Definition: Enhancing employees’ skills, knowledge, and abilities through formal or informal learning.

Advantages:

• Increases employee productivity and quality of work

• Encourages personal growth and motivation

• Supports internal promotion and career progression

Disadvantages:

• Expensive if using external providers

• Time away from work can disrupt operations

• No guarantee employees will stay after training

3.

Performance Management Strategy

Definition: Monitoring and evaluating employee performance to meet business goals.

Advantages:

• Aligns employee goals with business objectives

• Identifies underperformance early

• Improves accountability and communication

Disadvantages:

• Can cause stress if poorly handled

• Time-consuming to implement and review

• May lead to conflict if feedback is not constructive

4.

Reward and Recognition Strategy

Definition: Incentivising and acknowledging employee performance and contributions.

Advantages:

• Boosts motivation and morale

• Encourages high performance

• Improves employee retention

Disadvantages:

• Can be costly (bonuses, incentives)

• Risk of favoritism or jealousy among staff

• May focus too much on individual achievement over teamwork

5.

Workplace Culture and Engagement Strategy

Definition: Creating a positive, inclusive, and engaging work environment.

Advantages:

• Improves job satisfaction and employee wellbeing

• Fosters teamwork, trust, and loyalty

• Enhances business reputation

Disadvantages:

• Difficult to measure culture objectively

• Takes time to build and maintain

• Resistance from employees used to old culture

6.

Retention Strategy

Definition: Reducing employee turnover and keeping skilled staff long-term.

Advantages:

• Reduces recruitment and training costs

• Retains organisational knowledge

• Builds strong team dynamics

Disadvantages:

• May require higher wages or benefits

• Retaining the wrong staff can hinder progress

• Can limit opportunities for new talent

7.

Leadership and Succession Strategy

Definition: Developing future leaders and planning for leadership transitions.

Advantages:

• Ensures continuity in leadership roles

• Builds confidence in workforce

• Encourages career development

Disadvantages:

• Time-consuming to identify and train successors

• May create rivalry or dissatisfaction

• Internal promotions may overlook better external candidates

8.

Industrial Relations Strategy

Definition: Managing relationships between employers, employees, and unions.

Advantages:

• Encourages fair working conditions

• Reduces conflict through communication and negotiation

• Promotes legal compliance and industrial harmony

Disadvantages:

• Can be costly and time-consuming

• Disputes or strikes may still occur

• Requires skilled negotiation

9.

Health and Safety Strategy

Definition: Ensuring the physical and mental wellbeing of employees in the workplace.

Advantages:

• Reduces workplace accidents and injuries

• Improves employee trust and morale

• Ensures legal compliance (e.g. WHS laws)

Disadvantages:

• Can be expensive to implement safety programs

• Ongoing training and monitoring are required

• Overregulation can slow down processes

10.

Diversity and Inclusion Strategy

Definition: Promoting equality by embracing a diverse and inclusive workforce.

Advantages:

• Encourages innovation and different perspectives

• Enhances company reputation

• Attracts a wider talent pool

Disadvantages:

• Can lead to conflict if not managed sensitively

• May require significant cultural change

• Needs ongoing education and leadership support