Human resource management

• Human resource management: the strategic approach to effective management of employees so that they can help business to gain competitive advantage
• Workforce planning: forecasting the number of workers and skills that will be required by organisation to achieve objectives
• Workforce audit: check on the skills and qualifications of all existing workers
• Labour turnover: measures the rate at which employees are leaving the business
• Recruitment: the process of identifying the need for new employee, defining the job to be filled, and attracting suitable candidates for job
• Selection: the process in which candidates are interviewed, tested and selected for a job
• Job description: detailed list of key points about the job to be filled, stating all of its key tasks and responsibilities
• Job specification: detailed list of the qualities, skills and qualifications that successful applicant will need to have
• Redundancy: when job is no longer required, employee becomes unnecessary through no fault of their own
• Dismissal: being dismissed from a job due to incompetence or breach of discipline
• Equality policy: a policy that aims to ensure a fair organisation, where everyone is treated in the same way without discrimination
• Diversity policy: the policy that encourages creating a mixed workforce, placing positive value on diversity in workplace
• Training: work-related education to increase workforce skills and efficiency
• Induction training: introduce new employees to organization and its structure, layout of the business site
• On the job training: instruction at the place of work on how a job should be carried out
• Off the job training: training undertaken away from the workplace
• Employee appraisal: process of assessing the effectiveness of an employee judged against pre-set objectives
• Motivation: the internal and external factors that stimulate the desire in workers to be continually interested in to do well in job
• Piece rate: payment to worker for each unit produced
• Job enrichment: use the full capabilities of workers by giving them the opportunity to do more challenging and fulfilling work
• Time-based wage: payment to worker made for each period of time worked
• Salary: annual income that is usually paid on monthly basis
• Commission: payment to salesperson for each sale made
• Bonus: payment made in addition to contracted wage or salary
• Performance-related pay: bonus scheme to reward employee for above-average work performance
• Profit sharing: bonus for employees based on the profits of business
• Fringe benefit: benefits given, separate from pay, by employer to some or all employees
• Job rotation: allow worker to switch from one job to another
• Job enlargement: increase the scope of job by broadening or deepening task undertaken
• Job redesign: the redesigning of job to make work more interesting, satisfying and challenging
• Employee participation: active encouragement of employees to become involved in decision making within organisation
• Team working: production is organised so that groups pf workers undertaken complete units of work
• Empowerment: the giving of skills, resources, authority and opportunity to employees so that they can make decision
• Quality circle: voluntary group of worker who meet regularly to discuss, try to resolve
• Management: organisation and coordination of activities in order to achieve the defined objectives of business
• Autocratic leadership: a management style where one manager make all decision making
• Democratic leadership: encourages the active participation of worker in taking decisions
• Laissez-faire leadership: leaves much of the business decisiom-making to the workorce