Unit 2: Human Resources
✦ 2.1 Intro to HR
HR definition
- management of employees in a business
- HR roles:
- Recruiting
- Attract, develop, and retain high-quality employees
- First to contact applications
- Customers are employees
- Collaborate with all departments
HR functions
- Workforce planning
- Recruitment and selection
- Training and development
- Performance management
- Pay and remuneration
- Discipline and grievances
- Employee welfare
- Hiring new employees is expensive: training, travel costs
Workforce planning
- Process of anticipating and meeting organizational current and future needs
- Importance of workforce planning:
- Recruitment (expensive)
- Resources
, - Reservations (lower morale)
- Returns (lower levels of productivity)
- Reputation (poor corporate image)
Internal and external factors that influence human resources:
Internal: within control
Size of organization More people contracts, employees to care for
+ Impacts commercial real estate
Financial resources Impacts directly on employee salary
Workspace Impacts on productivity
Salary Impacts on employee morale/motivation
External: Out of control
Demographic Changes in population characteristics affect HR:
changes Net birth rate
Net migration rate
Retirement age
Aging population
- Less labor supply
Labor mobility The extent to which labor can be moved to different locations and
be flexible in job changes
- Geographical mobility (move to diff locations)
- Occupational mobility (move to diff jobs)
Immigration globalization=migration for work
MNCs need to consider this to plan for HR
Reasons for immigration:
- Pay & remuneration (e.g. medical care and additional
financial benefits from job)
- Employment opportunities
- Seasonal factors (people who work seasonal jobs may
immigrate to find other jobs)
- Political instability
- Higher standard of living
Flexitime Employees determine working hours for them to complete
deadlines
, Teleworking: working away from the office
- sales
- Homeworking: when employees work from their own homes
instead of going into an office (e.g. call center)
- Laissez-faire management style: lots of trust
Gig economy Labor markets where workers are on short-term, flexible, and
(platform work) temporary contracts
- Work when you wanna work
- Independent contractors
- Do not have permanent employment contracts
(e.g. uber drivers, online tutors, personal trainers)
Advantages Disadvantages
+ Lower business cost - Employees not protected by
+ Easier to set up remuneration
+ Employee flexibility - Lack of job security
+ Employees get extra - High burnout rate
income - Risk firm reputation when
outsourcing service that may
be poor
Advantages & disadvantages of teleworking/homeworking for EMPLOYEES:
Advantages Disadvantages
+ Job opportunities - Huge reliance on software
+ Suitable for family commitments - Workers exceed contracted working
+ Flexible working hours hours
+ No commuting: reducing time, - Social isolation
money, and stress - Less job security
+ Autonomy in decision-making - Distractions at home
+ Income tax allowances - Lack of quality training
+ Affordable for people due to lower
cost of tech
Advantages & disadvantages of teleworking/homeworking for EMPLOYERS:
Advantages Disadvantages
✦ 2.1 Intro to HR
HR definition
- management of employees in a business
- HR roles:
- Recruiting
- Attract, develop, and retain high-quality employees
- First to contact applications
- Customers are employees
- Collaborate with all departments
HR functions
- Workforce planning
- Recruitment and selection
- Training and development
- Performance management
- Pay and remuneration
- Discipline and grievances
- Employee welfare
- Hiring new employees is expensive: training, travel costs
Workforce planning
- Process of anticipating and meeting organizational current and future needs
- Importance of workforce planning:
- Recruitment (expensive)
- Resources
, - Reservations (lower morale)
- Returns (lower levels of productivity)
- Reputation (poor corporate image)
Internal and external factors that influence human resources:
Internal: within control
Size of organization More people contracts, employees to care for
+ Impacts commercial real estate
Financial resources Impacts directly on employee salary
Workspace Impacts on productivity
Salary Impacts on employee morale/motivation
External: Out of control
Demographic Changes in population characteristics affect HR:
changes Net birth rate
Net migration rate
Retirement age
Aging population
- Less labor supply
Labor mobility The extent to which labor can be moved to different locations and
be flexible in job changes
- Geographical mobility (move to diff locations)
- Occupational mobility (move to diff jobs)
Immigration globalization=migration for work
MNCs need to consider this to plan for HR
Reasons for immigration:
- Pay & remuneration (e.g. medical care and additional
financial benefits from job)
- Employment opportunities
- Seasonal factors (people who work seasonal jobs may
immigrate to find other jobs)
- Political instability
- Higher standard of living
Flexitime Employees determine working hours for them to complete
deadlines
, Teleworking: working away from the office
- sales
- Homeworking: when employees work from their own homes
instead of going into an office (e.g. call center)
- Laissez-faire management style: lots of trust
Gig economy Labor markets where workers are on short-term, flexible, and
(platform work) temporary contracts
- Work when you wanna work
- Independent contractors
- Do not have permanent employment contracts
(e.g. uber drivers, online tutors, personal trainers)
Advantages Disadvantages
+ Lower business cost - Employees not protected by
+ Easier to set up remuneration
+ Employee flexibility - Lack of job security
+ Employees get extra - High burnout rate
income - Risk firm reputation when
outsourcing service that may
be poor
Advantages & disadvantages of teleworking/homeworking for EMPLOYEES:
Advantages Disadvantages
+ Job opportunities - Huge reliance on software
+ Suitable for family commitments - Workers exceed contracted working
+ Flexible working hours hours
+ No commuting: reducing time, - Social isolation
money, and stress - Less job security
+ Autonomy in decision-making - Distractions at home
+ Income tax allowances - Lack of quality training
+ Affordable for people due to lower
cost of tech
Advantages & disadvantages of teleworking/homeworking for EMPLOYERS:
Advantages Disadvantages
