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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. (i... 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 common monetary reward in recruitment is a competitive salary. This salary serves as a fundamental incentive to attract candidates, ensuring they are compensated fairly for their skills and experience. Typically, it includes not just monthly or annual pay, but may also encompass benefits such as sick leave, superannuation, and bonuses.
Step 2
Describe ONE non-monetary reward that could be offered during the recruitment process.
Answer
An effective non-monetary reward is recognition through an 'Employee of the Month' award. This approach publicly acknowledges the contributions of an employee, boosting morale and promoting a positive workplace culture. Such recognition can enhance motivation and job satisfaction without a direct financial cost.
Step 3
Outline an issue that could arise during the acquisition process.
Answer
One potential issue during the acquisition process is the misalignment of expectations between management and new hires. This misalignment may lead to confusion regarding job roles, responsibilities, and company culture, resulting in decreased employee satisfaction and increased turnover in the short term.
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 Turnover Rate: This metric assesses the rate at which employees leave the organization, which can indicate overall job satisfaction and the effectiveness of HR policies.
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Employee Engagement Surveys: Conducting regular surveys can provide insight into employee morale, motivation, and their feelings towards the workplace, thereby helping HR to identify areas for improvement.