hrm

• Human resource management (HRM) is the

  management function of deploying and developing people within an organization to meet its business objectives.
• Human resource planning can be achieved by looking at:

  • Historical data and trends - This could include data about the changes in the size of the workforce over the past few years.
  • Sales and income levels - Higher levels of income and spending in the economy will lead to more jobs being created.
  • Labour turnover rates - These measure the number of employees who leave a firm as a percentage of its workforce, per year.
  • The flexibility and workload of employees - A highly flexible and skilled workforce may be able to cope if there is a sudden shortage of staff.
  • Demographic changes
• 5rs:

  Recruitment: higher costs

  Resources : more resources req and more time spent on dealing with personnel problems

  Reservations : low morale, workers are reserved

  Returns: lower productivity lower output, returns

  Reputation: poor corporate image
• Demography is the statistical study of population characteristics and trends: net birth rate, migration rate, retirement age, female workfoce
• The mobility of labour is the extent to which people can move

  to different locations (known as geographical mobility) and their

  flexibility in changing to different jobs (known as occupational

  mobility). The more mobile workers are (both geographically

  and occupationally) the higher the supply of labour tends to

  be.
• Migrant workers contribute to the economic growth of the

  host country through their production, consumption and the

  payment of taxes. Many migrant workers also remit a significant

  proportion of their pay back to their home country, thus

  benefiting the country of origin.
• Flexitime (short for flexible time), a system which requires employees to work for a core period (say from 9am to 1pm) but the rest of the time is flexible. This means that employees have autonomy to determine when they will work, subject to them getting their work completed by set deadlines.
• Teleworking refers to working away from the office by using electronic forms of communication, such as telephones, the Internet and email. Homeworking is an aspect of flexitime whereby people work from their own homes.
• The gig economy refers to labour markets where workers are

  typically on short-term, flexible and temporary contracts. Workers in the gig economy do not have permanent employment contracts. Instead, they are often on-call or on-demand whenever needed to provide services to the firm's clients.