Business A2 · Human resource management. The idea in plain words, the rules to remember, the mistake to avoid and a worked example, written and checked by Mega Lecture.
HRM strategy is about how a business uses its people to reach its objectives. Hard HRM treats employees as a resource and a cost to be controlled: close supervision, short-term contracts, little training. Soft HRM treats them as valuable assets to be developed, with training, consultation and long-term careers.
Flexible contracts let a firm match labour to demand. Zero hours, part-time, temporary, annualised hours, shift work and gig work mainly give the employer flexibility; flexi-time, home working, job sharing and compressed hours also help the employee's work-life balance. The usual costs are less security for workers and weaker commitment for the firm.
Employee performance is measured with labour productivity, labour turnover and absenteeism, and improved by training, better job design and management by objectives.
In labour turnover students divide by the number of employees at the start or the end of the year. Divide by the average number employed. Also keep causes of poor performance (poor training, low motivation) apart from its consequences (higher unit costs, complaints).
Answer: Labour turnover = 12%.
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