Advantages
Dis-advantages
Advantages
Dis-advantages
Internal recruitment
Cheaper
Good motivator
No new
perspectives/experiences
Can create unhealthy
competition between
workers
External recruitment
New perspectives/experiences
More choices
More expensive
Takes more time
Existing workers may feel
unappreciated
Use own HR
Cheaper
People within business will
have best idea of who will
fit in to the business
culture
Takes longer
In smaller business, might
not have real HR experts
Outsourcing
Saves time
HR business specialises in
finding applicants
Development
Development is improving the performance of employees through educational programs.
Effective development programs ensure that experienced and talented staff is retained. They
enhance employees motivation and commitment to the business through promotion
opportunities over the longer term. Research shows that employees who feel more competent
in their jobs and are recognised for their achievements are more motivated and satisfied at work
and also achieve higher levels of performance.
Acquisition
In HR management maintenance focuses on the processes needed to retain staff and manage
wellbeing at work. Maintenance involves looking after staffs wellbeing, safety and health,
managing communications effectively and complying with industrial agreements and legal
responsibilities.
Maintenance
Rewarding
o Monetary and non-monetary rewards
Legalities
o CSR (bullying)
o Award (IR. Framework)
o Workers compensation / Health and Safety Act.
Participation process
o Strong communication
Benefits for employee
Benefits for employer
Employee participation
Feel greater responsibility in
Greater involvement of
the business goals greater
employees greater morale
job satisfaction
Teamwork
Gain a greater sense of
Co-operation brings greater
belonging with the company
productivity
Flexible working conditions
Employees can balance their
Greater productivity
home and work lives, leading
to greater satisfaction
Training and rewards
Gain greater knowledge and
Employees bring back the
strategies
skills for the future, more
knowledge they learn and
benefits (monetary and non)
apply it in the company
for working at their company
Separation
Voluntary
o Voluntary redundancy
o Retirement
o Resignation
Non-voluntary
o Dismissal
o Non-voluntary redundancy
--Aussie Thongs Pty Ltd is a well-known Australian beach footwear business. Because of poor
domestic economic conditions, Aussie Thongs Pty Ltd wants to expand to oversea markets to
increase the business long-term sustainability. However, tapping into new oversea markets
poses a great risk to the business success hence requires effective management. This report
provides recommendations on:
Funding options
Due to Aussie Thongs Pty Ltd growing gearing ratio, the business should develop a stronger
cash flow t
Marketing plan
Financial management strategies
0404224449
melissa.burgess11@det.nsw.edu.au