Effective human resource management is important to business as it ensures the business has the right people, in the right roles with the right support with opportunities to succeed.
Human resource management focuses on employees that are...
Helps build a positive reputation of the business through interaction with customers, suppliers & stakeholders.
Impact of increase in minimum wage on business...
Businesses employing workers on wage basis will have higher labour costs.
Businesses with workers on salary basis will be less affected, they pay a fixed amount.
Flexible working
Flexible working is the development of a culture where workers are equipped to do different roles or where they work in a range of employment patterns (full-time, part-time, zero hours contracts, work from home, etc)
Multi - skilling
Process of training workers to fulfil multiple job roles within a business.
Advantages of multi-skilling
Business can utilise their workforce more efficiently, reducing labour costs & increasing productivity.
Helps improve outcome in healthcare industries as workers with broader skills can provide more comprehensive care.
Disadvantage - multiskilling
Requires significant investment in training & development.
May not be appropriate for jobs that require high expertise.
Part-time
Someone who works part-time may only work two or three days a week.
Temporary working
Someone who works temporarily shows up for work whenever the business needs them.
Advantages - part-time/temporary
Flexible working arrangements help business attract & retain talent, especially staff who value work-life balance.
May improve productivity as staff can work during their most productive hours & avoid distraction.
Disadvantages - Part-time/temporary
Flexible working arrangements can create challenges in communication & collaboration.
Monitoring & managing flexible workers can be difficult.
Outsourcing
When a business process is contracted out to another company.
Advantages - Outsourcing
Allows business to produce at lower costs, maintaining competitive advantage.
Allows business to access specialised skills.
Disadvantages - Outsourcing
Leads to a loss of control over quality & delivery, especially if outsourcing partner is in another country.
May create ethical concerns, if partner is based in a country with lower labour standards & human rights abuses.
Flexible hours
Allows employees to schedule working hours around their individual needs and accommodate their commitments outside of work.
Usually involves working some set hours, with the remainder of hours organised according to the employees' needs.
Work from home
Employees use tools such as email, instant messaging, collaborative software, scheduling apps and videoconferencing to carry out work remotely.
Advantages of home working for business..
Smaller/ fewer premises required = reduced costs.
High quality workers attracted from a wide geographical area.
Workers may be more productive if working away from distractions at home & extra hours taken from travel.
Disadvantages of home working for business..
Cost of equipping workers with correct technology is expensive.
Less opportunity for collaboration = reducing innovation.
Careful monitoring required to ensure employees are productive.
Advantages of home working for employee
Commuting costs are eliminated.
Reduced stress.
Flexibility, allowing workers to manage other commitments.
Disadvantages of home working for employee
Staff may feel isolated from colleagues.
Household costs like electricity & heating will increase.
Healthy division between work & home life may be difficult to manage.
Dismissal
The termination of an employee by an employer against the will of the employee.
Employees are usually terminated due to their
misconduct or poor performance.
Employer may choose to dismiss them immediately (without notice or compensation) or provide a notice period.
Redundancy
Employees are made redundant when the job is no longer available & business reduces size of workplace.
Termination is not because of any faults of the employee.