HR Objectives and Influences Summary

Debt Factoring and ABC Ltd.

• Benefits:
  • Cash shortage
  • Quick collection
  • Replace receivables

Human Resource Objectives

• Includes:
  • Engagement
  • Development
  • Training
  • Diversity
  • Value alignment
  • Staff numbers/skills

Key HR Terms

• HR Objectives: Targets
• Labour Productivity: (\text{Output} \div \text{Employees})
• Quality: Customer needs
• Engagement: Business mission
• Involvement: Impact on decisions
• Training: Job skills
• Talent: Star employees
• Diversity: Differences

Human Resource Management

• HRM: Manage people
• HR objective: Manage resources

Value of HR Objectives

• Meet corporate goals
• Skilled workforce

Types of HR Objectives

• Productivity
• Workforce size
• Engagement
• Training
• Talent
• Diversity
• Values

Labour Productivity and Workforce

• Control costs
• Changes: growth, tech
• Right employees

Employee Engagement and Involvement

• Improve performance

Training and Talent Development

• Improve skills
• Focus on potential

Diversity and Values

• Value contributions
• Equality objectives
• Influences behavior

Factors Influencing HR Objectives

• Improve productivity
• Ensure 4R’s
• Engage staff
• Train staff
• Develop staff
• Recognize diversity
• Support values

Hard vs. Soft HRM

• Hard: Workforce needs
• Soft: Employee needs

Review Activities

• Key Concepts:
  • Engagement: Motivated
  • Hard: Replaceable
  • Wastage: Not replacing
  • Soft: Valuable
• True/False:
  • High engagement = low turnover (True)
  • Talent affects objectives (True)
  • Diversification = staffing (False)
  • Soft HRM = costly (True)

Perfect Pottery Case Study

• Problems: Morale, no consultation, productivity
• Achievement: Productivity improved '14, absenteeism increased, morale low