HRM Influences
The main legislation relevant to HRM
What is the Fair Work Act 2009?
Reginald
What is the name of Mr Mann's dog?
An association of workers that aims to advance the interests of its members by improving their wages and working conditions
What is a trade union?
Involves staff input in collaborative decision-making
What is a democratic leadership style?
Lego uses one of these inputs by performing market research and online polls to determine their future playsets
What is a transformed resource? (customers)
Changes such as an ageing workforce, greater female participation and emphasis on work-life balance
What are social influences?
This idea holds that no one management strategy is applicable at all times and therefore requires flexibility and adaptability
What is the contingency management approach?
When McDonald's trains new employees on how to make burgers and use the register, this is called this type of training for new staff.
What is an induction?
An acquisition method that rewards loyal and productive employees
What is an advantage of internal recruitment?
A widely used management tool that uses network analysis to help project managers handle complex and time sensitive operations
What is a critical path analysis?
$24.95 per hour
What is the 2025 National Minimum Wage?
Formerly known as the Trade Practices Act 1974
What is the Competition and Consumer Act 2010?
Improves productivity and quality by relying on an expert third-party
What is an advantage of outsourcing?
The process of identifying a vacancy, advertising positions, and selecting the best candidate is called this.
What is recruitment and selection?
This syllabus point includes reorganising plant layout as a factor
What is overcoming resistance to change?
An employment contract negotiated between an employer and a group of employees
What is an enterprise agreement?
Netflix's shift from DVD rentals to streaming services demonstrates this stage of the product life cycle where sales decline and the business must innovate or exit.
What is the decline stage?
Australia's aging population, rising living standards, and urbanisation trends represent this type of influence
What are social influences?
Google's practice of allowing employees to spend 20% of their time on passion projects reflects this approach to job design that increases employee autonomy and skill variety.
What is job enrichment?
The inventory valuation method that assumes the first goods purchased are the first goods sold
What is FIFO?
Nike's use of e-commerce, cloud computing, and artificial intelligence to improve operations and customer experience demonstrates this rapidly changing influence.
What is technology (or technological change)?
When Qantas hedges against fuel price increases by locking in future prices through financial contracts, they're using this risk management technique.
What is hedging (or derivatives/futures contracts)?
When Qantas offers employees performance bonuses, share options, and profit-sharing schemes in addition to base salary, these are called this type of rewards.
What are monetary incentives (or performance-based pay)?
A semi-formal process where a highly trained third-party helps reach an agreement. The outcome is legally binding if both parties agree to it.
What is conciliation?
Apple's decision to have Foxconn manufacture iPhones in China is an example of this strategy
What is global outsourcing / offshoring?