Summary HUMAN CAPITAL FUNCTION: IEB-Ready Business Studies Notes
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Business Studies
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These PDF document contains all the necessary information needed to achieve a 95% PASS in the IEB FINALS, as I did with these very notes. Each page contains colour (not too much that it becomes distracting) and takes a very structured and consistent approach to summarising. The TEXTBOOK is often TO...
Chapter 4 - The Human Resource/ Capital Function
- Employees are regarded as assets with certain skills, knowledge, experience,
characteristics and attitudes
- Ensure that they are remunerated fairly
- Human Capital Function’s responsibility to ensure all labour legislation is met
1. Manpower planning as a prerequisite for recruitment and selection
- The strategic planning of the business determines which skills are needed to achieve the
goals
- This will be done through manpower planning and training
- This is done through a process of:
- Estimating the number of employees
- Assessing the range of skills required for the business to operate
- Calculating the time frame of employment needs
- Job analysis is performed to determine all the tasks and responsibilities
associated with each job in the business
- A job description will then be written to specify the job title, a summary of the job,
duties and working conditions associated as well as the supervision required
- Job specification interprets the job description into skills and experience
necessary for the employee to do the job well
- Guide to the recruitment process
- If need the Human Capital Function will recruit and select (and train) if there is a
skills gap in the workforce or needed workforce
2. The process of procuring the finest talent for the business
2.1 Recruitment
- Focus: attract the most competent talent
- Recruitment agent: determines the most effective communication channels to be used
for the recruitment message
- Business should consider the following internal and external options, then select the
most appropriate option for the type of employee needed:
- Internal Recruitment
- Transferring an existing employee to a new position or through promotion
- Identify candidates based on skills, qualifications and experience (search
through employee files)
- Post the position on an intranet or notice board or on email to invite
interested employees to apply
- Current employees could be asked to recommend someone outside of
the business (hybrid between internal and external recruitment)
- Advantages:
, - Employee morale improved as they know there are opportunities
for promotion
- More cost effective
- Employees past performance and attitude towards the business is
known
- External Recruitment
- Advertised via an employment agency
- Advertise on newspapers, trade journals or at trade shows
- Dependent on qualifications; business may approach schools,
colleges, universities and other educational institutions to seek
candidates
- Looking at the CV of causal applicants
- Employees may be “head hunted” where an employee who works
for a competitor is identified and asked to apply for a vacant
position
- Advantages:
- New ideas and skills are brought into the business
- Gives the business an opportunity to employ more
Affirmative Action candidates to meet Employment Equity
targets
- If employee head hunted, they may provide insight into the
competitors operations
- No infighting occurs among employees for the position
2.2 Selection
- Once recruitment process is completed, the selection process begins to identify the most
suitable candidates to interview for the position
- Multiple steps that end with the employee signing the employment contract:
- A Check the applications to ensure all required information has been received
from the candidates applying.
- B Evaluate all the application forms and CVs to ensure candidates meet the
prescribed criteria.
- If don’t meet criteria they are informed that their applications were
unsuccessful
- C Compile a shortlist of candidates for round 1 of screening. This process should
be objective
- D Background and reference checks are done. Predetermined questions
ensuring fairness. Credit checks and checking for a criminal record may also be
done if the position requires it.
- E Interviews are conducted. This should be done by a predetermined panel with
a guide set of questions to ensure fairness. Final interviews may be conducted to
obtain additional information. Interviews assess the qualities of the candidates
and their suitability for the position and the business. The interviews also allow
the candidate/ interviewee to ask questions about the position and the business.
, - F Candidates may be required to undergo certain tests to evaluate suitability for
the position:
- Work sample tests to measure their ability and actual performance
- Psychometric tests
- Medical examination (if a certain health aspect is an inherent aspect of
the job)
- BUSINESS PAYS FOR ANY COSTS INCURRED
- G Candidates are ranked and the highest-rated candidate is offered the position -
if turned down the position may be offered to the next suitable candidate
- H Once accepted, a contract is signed by both parties (employer and employee).
The details specified are:
- Full details of employer
- Full details of the employee (ID, Full names etc.)
- Details regarding the position (date of appointment, duties, job title,
probation period, working hours, remuneration, notice period to terminate
contract, retirement age etc.)
2.3 Placement
- The employee is usually placed in the position which they applied to
- If the employee has a special skill, making them more suited in a different position - the
business may re-negotiate remuneration and other benefits
- Correct placement ensures the employee is optimally used in the best interests of both
parties
2.4 Induction
- Orientation given to all new employees to help them become productive role players in
the business as soon as possible
- Orientation may include:
- Written copy of the business’ policies and procedures
- Some form of organisation chart to identify various role-players in the
organisation
- A face-to-face introduction to the manager and other staff members in the
department
- A tour of the facilities
- Precise instructions outlining how the new staff member should perform certain
tasks or any other unique tasks should be clarified
- Allocating the employee a mentor in case questions arise or there is any
uncertainty about job-related issues
- Advantages:
- Helps reduce stress and anxiety for the new employee as it creates a
positive impression of the business and assists them to become part of
the team easily
- Ensures the employee starts off with the correct information
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