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HRM Strategy - Coggle Diagram
HRM Strategy
full-time/permanent
Advantages
employee loyalty
employee's safety/security
Disadvantages
Inflexible
Labour cost => fixed
temporary/part-time/zero-hours/gig
advantages
more available employees
efficiency can be accessed
no fixed costs
disadvantages
low motivation
less commited
difficult to have teamwork
illegal in some countries
workers have more contract => not be available immediately
annualised hours
benefits
flexibility
period of regular hours
core arrangement => remaining used when needed
limitations
less freedom
high cost over time rate
hard HRM
advantages
reduce fixed cost
flexibility => competitive advantage
disadvantages
more to manage
difficult communication
flexitime
benefits
attract well-qualified => improve business
more choice
limitations
not available all time
difficult teamwork/communications
home working
benefits
reduce time in travel
reduce firm's cost (accommodation)
easier to recruit water
limitations
difficult to assess
less contact
difficult teamwork
job sharing
benefits
experienced
more productive
cover each other
freedom
limitations
confusion
HR administration provided for 2
trust between workers
compressed hours
benefits
more opportunities
extra day off
limitations
must ensure efficiency
long workday
some prefer short hours