Human Resource Management

• Physiological Needs


  are the basic requirements for human survival, such as food, water, and shelter.
• Safety and Security Needs 


  are the desires for protection from dangerous or threatening environments.
• Living Wage


  is the minimum income an employee needs to afford basic shelter, food, and other necessities.
• Job Security


  is the likelihood of an employee keeping their job.
• OH&S regulations


  are the occupational health and safety rules and laws that aim to protect the wellbeing of employees and the public.
• Social Needs


  are the desires for a sense of belonging and friendship among groups, both inside and outside the workplace.
• Self-actualisation needs


  are the desires of an individual to reach their full potential through creativity and personal growth.
• Intrinsic motivation


  is a drive that comes from within an individual.
• The Four Drive Theory is a motivational theory that suggests that people strive to balance four fundamental desires.
• The drive to acquire is the desire to achieve rewards and high status.
• The drive to bond is the desire to participate in social interactions and feel a sense of belonging.
• The drive to learn is the desire to gain knowledge, skills, and experience.
• The drive to defend is the desire to protect personal security as well as the values of the business.
• The Goal Setting Theory is a motivation theory that states that employees are motivated by clearly defined goals that fulfil five

  key principles.
• A production quota is a goal for how many products are to be made within a specific time period.
• Performance-related pay is a financial reward that employees receive for reaching or exceeding a set business goal.
• Remuneration is the money paid to an employee by an employer in exchange for completing work tasks.
• A pay rise is a permanent increase in an employee’s salary or hourly wage rate.
• A bonus is a one-off payment made for meeting a set objective. It is provided in addition to an employee’s regular salary.
• Commission is a payment provided to an employee for selling a good or service. It is usually paid as a percentage of the price of the good or service being sold.
• Career advancement is the upwards progression of an employee’s job position.
• Job enlargement involves combining various duties within an existing role.
• Job enrichment involves an increase in the level of responsibility and complexity in an existing role.
• Investment in training is allocating resources to improve employee skills and knowledge.
• Mentoring is a senior employee assisting a junior employee in developing the skills and knowledge needed for their work.
• Support strategies involve providing employees with any assistance that improves their satisfaction at work.
• Sanction strategies involve penalizing employees for poor performance or breaching business policies.
• Management by objectives involves both managers and employees collaboratively setting individual employee goals that contribute to the achievement of broader business objectives.
• Performance appraisals involve a manager assessing the performance of an employee against a range of criteria, providing feedback, and establishing plans for future improvements.
• Self-evaluation involves an employee assessing their individual performance against a set of criteria.
• Employee observation involves a range of employees from different levels of authority assessing another employee’s performance against a set of criteria.
• Termination is the process whereby a business ends its employment contract with an employee.
• Retirement involves an individual deciding to leave the workforce

  permanently as they no longer wish to work.
• Redundancy involves an employee no longer working for a business

  because there is insufficient work or their job no longer exists.
• Resignation involves an employee voluntarily terminating their own employment, usually to take another job position elsewhere.
• Dismissal involves the involuntary termination of an employee who fails to meet required work standards or displays unacceptable or unlawful behaviour.
• Exit interviews are discussions held between an employer and the leaving employee which are used to identify the reasons for an employee deciding to no longer work at the business.
• Unfair dismissal is an employee being dismissed for harsh, unreasonable, or unjust reasons.
• Entitlement considerations are legal obligations an employer owes to its employees following the termination of their employment contract.
• Annual leave is paid time off that is provided to an employee when they are not working. Businesses can only provide employees with a limited amount of annual leave each year.