Human Resource Management - Business Revision Notes

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Contents

Human Resource Management 4

Definition 4

Functions 4

Manpower Planning 4

Recruitment and Selection 5

Stages in Recruitment and Selection 5

Importance of Recruitment 6

Importance of Selection 6

Definitions 6

External Recruitment (someone outside the business is hired) 6

Internal Recruitment (someone from among those already working in the business) 7

Training and Development 7

On the Job Training 7

Off the Job Training 7

Development 8

Performance Appraisal 8

Steps Involved in a Performance Appraisal 8

Importance of Performance Appraisal 9

Pay and Rewards 9

Importance of Pay and Rewards 9

Financial Rewards (money of ‘gift’ with monetary value) 9

Non- Financial Rewards 10

Employer/ Employee Relationships 10

What is the Importance of Good Employer/ Employee Relationships? 11

How can Industrial Relations be Improved? 11

Teamwork 11

Stages in Forming Teams 11

Advantages of Teams for the Business 12

Advantages of Teams for Employees 12

Human Resource Management

Definition

  • Human Resource Management involves managing the employees in a business effectively. Its main purpose is to ensure that the business finds, keeps ad makes best possible use of its employees.

Functions

  1. Manpower Planning
  2. Recruitment and Selection
  3. Training and Development
  4. Performance and Appraisal
  5. Pay and Rewards
  6. Employer/ Employee Relationships

Manpower Planning

  • It means making sure the business has enough workers with the right skills to do all the jobs in the business. It is not just about the quantity of workers but also the quality of the work they do.

STEP 1: Forecast Future Demand

  • The HR Manager must estimate how many employees the business will need in the future. They must also analyse what skills will be needed by the company in the future. Example: If an airline is expanding their routes next year they will need to hire more pilots.

STEP 2: Calculate Existing Supply

  • An audit must be conducted of the current employees in the business. It must b...

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