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Summary Chapter 9
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Chapter 9 of introduction to business, required course for first year IBA
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Recruitment and retainingthe best employees
9.1: Human resources management
Consists of all the actiites iniolied in acquiring, maintaining and deieloping an
organisatonns human resourcest
HRM begins with acquisiton – getng people to work for the organisatont
This process can be compettie for certain types of qualifed employeest
Steps must be taken to keep these ialuable resourcest
9.1.1: HRM activities
3 phases: acquiring, maintaining, deieloping human resourcest
HRM includes 5 separate actiites:
o Human resources planning: determining the needs
o Job analysis: determining the exact nature of positons
o Recruitng: atractng people to apply for positons
o Selecton: choosing and hiring the most qualifed applicants
o Orientaton: acquaintng new employees with the frm
HRM programmes:
o Employee relatons: increasing employee job satsfacton
o Compensaton: rewarding employee effort through monetary payments
o Benefts: proiiding rewards to ensure employee wellbbeing
Two important actiites of the deielopment phase:
o Training and deielopment: new jobs, skills and effectie ways of present jobs
o Performance appraisal: assessing employeesn current and potental performance
9.1.2: Responsibility for HRM
HRM is a shared responsibility of line managers and staff HRM specialistst Large frms
haie a HRM managert
Large organisatons, actiites are specialisedt Separate groups dealing with
compensaton, benefts, training, etct
Compensaton systems are deieloped by the HRM staff, howeier, line managers
recommend pay increases and promotonst
9.2: Human resources planning
HRP is the deielopment of strategies to meet a frmns future human resources needst
The startng point is the organisatonns oierall strategic plan, then planners can forecast
future demand for human resourcest
9.2.1: Forecasting human resource demand
Planners should base forecasts on releiant informatont
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