Strategic Workforce Management: Recruitment, Planning, and Decision Making
Recruitment Strategies
Employers should search to locate candidates with the necessary requirements to perform the job offered.
Internal Recruitment
Searches within their own company for the best people to fill the position.
Benefits
- Saves time and money
- Boosts employee motivation
- Fast process
Disadvantages
- If a mistake is made, it can decrease confidence and motivation.
- Greatly reduces the number of candidates.
External Recruitment
Employers look outward in search of a larger number of candidates. Various
Read MoreBond Price Dynamics & Investment Risks
Accretion (Pull to Par)
If the YTM does not change between the time the bond is purchased and the maturity date, what will happen to the price of the bond? For a bond selling at par value, where the coupon rate is equal to the required yield, as the bond moves closer to maturity, the bond will continue to sell at par value. Its price will remain constant as the bond moves toward the maturity date.
But the price of a bond will not remain constant for bonds selling at a premium or a discount. A discount
Read MoreKey Parameters of Organizational Structure Design
Fundamental Parameters of Organizational Design
The fundamental parameters of organizational design are:
Horizontal Differentiation
Refers to the degree to which work is divided into specialized tasks and how these tasks are grouped into roles within the organization.
Vertical Differentiation
Indicates the number of hierarchical levels in the organization and how authority and supervision relationships are established between them.
Decentralization
Involves the distribution of decision-making power across
Core Management Principles: Nature, Planning, Structure, and Control
Nature and Scope of Management
Nature of Management
- Multidisciplinary: Management draws from various disciplines like psychology, sociology, economics, and mathematics.
- Continuous Process: Management involves ongoing planning, organizing, leading, and controlling.
- Dynamic: Management adapts to changing environments, technologies, and stakeholder needs.
- Universal: Management principles apply to all organizations, regardless of size, type, or location.
Scope of Management
- Planning: Defining goals, objectives,
Optimizing Human Resources: Behavior, Roles, and Staffing Strategies
Understanding Human Needs in Organizations
Human needs are fundamental to understanding employee motivation and behavior. Maslow’s Hierarchy of Needs provides a framework:
- Physiological Needs: Basic requirements like hunger and thirst.
- Safety Needs: Emotional stability, economic security, and a safe environment (e.g., having a home).
- Social Needs: Belonging and acceptance within a social group (love, friendship, communication, community).
- Esteem Needs: Feeling accepted and recognized by others for one’
Business Entity Types in Spain: SLNE, Civil, Labor
Sociedad Limitada Nueva Empresa (SLNE)
- Minimum partners: 1, maximum: 5.
- Minimum capital: €3,000, maximum: €120,000.
- After three years, it can convert to a standard SL.
- Offers tax incentives, such as deferring Corporate Income Tax (IS) for two years and tax deductions for workers.
- Other aspects are similar to a standard SL.
Civil Society (Sociedad Civil)
- Established under a private contract, simplifying procedures and reducing establishment costs.
- Profits attributed to each member are taxed under personal