FUNDAMENTALS OF HRM
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Human Resources Management (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 66 rapid-fire Q&A cards.
What is the primary objective of Human Resource Management in a banking organization?
The primary objective of HRM is to optimize the utilization of human capital to achieve organizational goals while ensuring employee well-being, development, and satisfaction.
What is the 'Michigan Model' of HRM and its core focus?
Resource-focused model emphasizing tight fit between HR and strategy.
How does HRM differ from traditional Personnel Management in banks?
HRM is a strategic, proactive approach that treats employees as assets and aligns people practices with business goals, whereas Personnel Management was reactive, administrative, and focused mainly on compliance and record-keeping.
What does the acronym 'KSA' stand for in HRM terminology?
Knowledge, Skills, and Abilities required for a job role.
What are the four main functions of HRM as defined in classical management theory?
The four main HRM functions are Acquisition (recruitment and selection), Development (training and appraisal), Motivation (compensation and benefits), and Maintenance (employee relations and safety).
What is the meaning of 'Span of Control' in organizational HRM?
Number of subordinates a manager can effectively supervise.
What does the term 'Human Capital' mean in the context of HRM?
Human Capital refers to the collective knowledge, skills, experience, and competencies of an organization's workforce that contribute to productive capacity and competitive advantage.
What is 'Workforce Diversity' in the context of modern HRM?
Mix of employees differing in age, gender, culture, and skills.
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