Acquisition (HSC SSCE Business Studies): Flashcards
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Practise the cards
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Acquisition in HRM
Acquisition in HRM
1st & most critical element; identifying needs, recruitment, selection
Four stages of HRM cycle
Four stages of HRM cycle
Acquisition, Development, Maintenance, Separation
Internal environment factors (examples)
Internal environment factors (examples)
Goals, performance, culture, technology, budget, turnover rates
External environment factors (examples)
External environment factors (examples)
Competition, labour market, economic trends, legislation
Demand forecasting
Demand forecasting
Identifies human resources the business will require
Supply forecasting
Supply forecasting
Assesses human resources currently available to the business
Job rotation
Job rotation
Employees switching between different jobs for set periods
Job enlargement
Job enlargement
Giving employees more tasks within their existing role
Job enrichment
Job enrichment
Giving employees more control, independence & decision-making power
Recruitment
Recruitment
Locating & attracting staff to apply for vacancies at right cost