Quote: "Human resource management (HRM or HR) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage."
Guidelines for hiring, training, and managing employees in a sole proprietorship business.
Recruitment and Selection: This is the process of identifying, attracting, and selecting suitable candidates for employment. It involves job analysis, job descriptions, and job specifications.
Retention Strategies: Retention strategies are designed to ensure that employees remain with the organization for the long-term. This involves creating a positive work environment, offering benefits and perks, and providing opportunities for growth and development.
Performance Management: Performance management is the process of setting goals, monitoring progress, and evaluating performance. It involves providing regular feedback and coaching to help employees improve their performance.
Employee Training and Development: Employee training and development is the process of providing employees with the skills and knowledge necessary to perform their jobs effectively. This involves on-the-job training, coaching, and mentoring.
Compensation and Benefits: Compensation and benefits are the rewards that employees receive for their work. This includes wages or salaries, bonuses, health insurance, retirement plans, and other benefits.
Employee Relations: Employee relations involves managing relationships between employers and employees. This includes handling conflicts, communicating with employees, and addressing their concerns.
Legal Compliance: Legal compliance involves ensuring that the organization is complying with employment laws and regulations. This includes issues such as minimum wage, overtime, discrimination, and harassment.
Workforce Planning: Workforce planning involves predicting future staffing needs and developing plans to meet those needs. This involves analyzing the current workforce, identifying gaps, and creating a plan for recruitment and retention.
Diversity and Inclusion: Diversity and inclusion involve creating a workplace that is welcoming and inclusive of employees from diverse backgrounds. This includes promoting diversity in hiring and creating a culture that values diversity.
Health and Safety: Health and safety is the responsibility of employers to provide a safe and healthy workplace for employees. This includes implementing safety protocols and providing training on workplace hazards.
Full-time Employees: These are employees who work regular hours and receive benefits such as health insurance, paid time off, and retirement plans. They are typically hired for a long-term basis and provide consistent work.
Part-time Employees: These are employees who work fewer hours and receive benefits on a pro-rata basis. Part-time employees are often hired to provide additional support during busy periods or to fill gaps in staffing.
Freelancers/Contractors: These are individuals who work on a project-by-project basis and are not afforded the same benefits and protections as traditional employees. Freelancers/contractors typically provide specialized skills or knowledge that are not available in-house.
Interns: These are individuals who work for a company for a specified period of time in order to gain experience and often college credit. Interns are typically unpaid or receive a stipend for their work.
Temporary Employees: These are employees who are hired on a short-term basis to cover for absenteeism, vacations, or peak periods. Temporary employees are often hired through staffing agencies.
Consultants: These are specialized professionals who are hired to provide advice and guidance on a specific issue or project. Consultants typically work on a short-term basis and are paid a premium for their expertise.
Seasonal Employees: These are employees who work for a specific period of time related to a particular season. Examples include lifeguards, amusement park operators, and Christmas tree lots.
Family Members: These are relatives who work for the business and may receive special considerations or pay structures. Family members may be hired to fill operational gaps or for succession planning purposes.
Co-Employment: This arrangement involves a shared employment relationship where two or more employers hire the same employee, often through a staffing agency. Both employers share responsibility for providing employee compensation and benefits.
Outsourcing: This is a hiring and management strategy where select operational functions of the business are outsourced to a third-party provider. Examples include accounting, payroll, and IT services.
Quote: "HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management."
Quote: "The overall purpose of human resources (HR) is to ensure that the organization is able to achieve success through people."
Quote: "They can specialize in finding, recruiting, selecting, training, and developing employees, as well as maintaining employee relations or benefits."
Quote: "Training and development professionals ensure that employees are trained and have continuous development."
Quote: "Employee relations deals with the concerns of employees when policies are broken, such as cases involving harassment or discrimination."
Quote: "Managing employee benefits includes developing compensation structures, parental leave programs, discounts, and other benefits for employees."
Quote: "These HR professionals could work in all areas or be labour relations representatives working with unionized employees."
Quote: "HR as of 2015 focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion."
Quote: "In the current global work environment, most companies focus on lowering employee turnover and on retaining the talent and knowledge held by their workforce."
Quote: "New hiring not only entails a high cost but also increases the risk of a new employee not being able to adequately replace the position of the previous employee."
Quote: "HR departments strive to offer benefits that will appeal to workers, thus reducing the risk of losing employee commitment and psychological ownership."
Quote: "It was initially dominated by transactional work, such as payroll and benefits administration."
Quote: "Due to globalization, company consolidation, technological advances, and further research, HR as of 2015 focuses on strategic initiatives."
Quote: "Researchers began documenting ways of creating business value through the strategic management of the workforce."
Quote: "HR as of 2015 focuses on strategic initiatives like mergers and acquisitions."
Quote: "HR as of 2015 focuses on strategic initiatives like talent management."
Quote: "HR as of 2015 focuses on strategic initiatives like diversity and inclusion."
Quote: "HR departments are responsible for overseeing performance appraisals."
Quote: "HRM...is designed to maximize employee performance in service of an employer's strategic objectives."