Outline the Four Dimensions of Human Resource Management Practices

question 65

Essay

Outline the four dimensions of human resource management practices.

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Definitions:

Business Objectives

Goals and targets that a business aims to achieve in a set period.

Compensation Systems

Structured plans implemented by businesses to reward and provide financial benefits to employees for their work and performance.

Broadbanding

A method of salary structure that consolidates a large number of pay grades into fewer broad bands to provide greater flexibility in employee movement and compensation.

Red Circle Rates

Pay rates that are higher than the typical range for a job or position, often given to retain employees with critical skills or experience.