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A business has been rapidly expanding and requires additional staff - HSC - SSCE Business Studies - Question 23 - 2017 - Paper 1
Question 23
A business has been rapidly expanding and requires additional staff. (a) (i) Describe ONE monetary reward that could be offered during the recruitment process. ..... show full transcript
Worked Solution & Example Answer:A business has been rapidly expanding and requires additional staff - HSC - SSCE Business Studies - Question 23 - 2017 - Paper 1
Step 1
Describe ONE monetary reward that could be offered during the recruitment process.
Answer
A salary is a fundamental monetary reward that can be offered to employees during the recruitment process. It includes base pay as well as additional benefits such as sick leave, long service leave, and superannuation contributions.
Step 2
Describe ONE non-monetary reward that could be offered during the recruitment process.
Answer
An example of a non-monetary reward is recognition awards, such as 'Employee of the Month'. This award values the employee's contributions openly, fostering a sense of appreciation and motivation.
Step 3
Step 4
Recommend TWO indicators that could be used by the business to measure the effectiveness of human resource management.
Answer
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Employee Satisfaction Surveys: Regular surveys can gauge employee morale and identify areas needing improvement.
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Turnover Rates: Monitoring employee turnover can help assess the effectiveness of hiring practices and workplace satisfaction.