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Business study Year 12 > M3 topic 4 part 2: training and development, performance managment, rewards, > Flashcards

M3 topic 4 part 2: training and development, performance managment, rewards, Flashcards

1
Q

what does training do

A

develops skills, knowledge and attitudes

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2
Q

why is training important

A

improves work performance

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3
Q

what does development do

A

enhances skills to prepare for changing and future needs of the business

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4
Q

what is formal training

A

where the employee has a role like a student and is payed to study and get experience

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5
Q

what are some examples of formal training (4)

A

lectures
seminars
trainee and apprentice schemes
external courses

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6
Q

what is informal training

A

when a employee is shown or modelled the correct skills in order to do a specific job

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7
Q

what are some examples of informal training (2)

A

coaching

mentoring

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8
Q

what is on the job training

A

is where employees get first hand experience on the skills, knowledge and attitudes needed for there job

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9
Q

why is on the job training useful/necessary (2)

A

helps to produce a stronger workforce

gives employers a greater understanding of their staff’s skills base

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10
Q

what is off the job training

A

it’s where the workers/employees learn their job roles away from the actual work floor.

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11
Q

why is off the job training useful/necessary

A

they are not involved in production process, so error in production can be minimised.

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12
Q

what is the purpose of induction training

A

ensures that new staff can quickly learn the business’s policies, processes and practices.

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13
Q

what is involved in induction training (2)

A

develop theoretical and practical skills

new employees meet and interact with co workers

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14
Q

what is performance management

A

the ongoing process of communication between supervisor and employee about achieving objectives of the business and goals of employees

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15
Q

what is involved in performance management

A

assessment of both individual and business performance

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16
Q

what types of performance data is there (2)

A

development

administrative

17
Q

what is development performance management data used for

A

to develop the skills and abilities of individual employees

18
Q

whats is administrative performance management data used for

A

used by H.R mangers following appraisal periods to help than plan HR needs.

19
Q

what are the benefits of using developmental performance management (3)

A

Can identify gaps and weaknesses in performance
Identifies training, development, and legal compliance needs
Communicates expectations

20
Q

what are some benefits of using administrative performance management (3)

A

Higher productivity
better financial performance
creates opportunity for employee to provide feedback

21
Q

what are some reasons why performance management is important (5)

A 
identify opportunities for improvements in productivity
assess performance, against standards
provide feedback and recognition
identify training needs
justify staffing decisions
22
Q

why are reward systems important (3)

A

attracts,
motivates
retains staff

23
Q

what types of rewards are there (2)

A

monetary

non-monetary

24
Q

list some examples of monetary rewards (3)

A

cash bonus
free childcare
shares

25
Q

list some examples of non monetary rewards (3)

A

interesting/challenging work
workplace flexibility
performance recognition

26
Q

what ways can rewards be distributed

A

individual

group

27
Q

what are some problems with individual rewards (1)

A

lead to rivalry and conflict if not managed properly

28
Q

what are some pros to using group rewards instead of individual rewards (2)

A

encourage a greater sense of teamwork

more communication

29
Q

what are some cons to using group awards instead of individual rewards (2)

A

not everyone applies equal effort to get rewards

lead to more conflict

30
Q

what is performance pay

A

a individual monetary reward base off individual performance

Business study Year 12 (33 decks)

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