A1 - Nature and Challenges of HRM Flashcards
The process of managing human talent to achieve an org’s objs.
Human Resource Mgmt (HRM)
- The knowledge, skills, and capabilities of indiv. that have economic value to an org.
- mgrs should focus on strats. to develop this w/in their workforce
- current staffing and training programs
human cap.
(6) competitive issues that HR mgmt must face
- Chgs in mktplace and economy
- Competing, recruiting and staffing globally
- Advancing HR tech.
- Containing costs while retaining top talent and maximizing productivity
- Responding to the demographic and diversity challenges of the workforce
- Adapting to educational and cultural shifts affecting the workforce
- A set of princ. and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement
- translating cust’s needs into separate tasks and defining the best way to perform each task in concert w/ the others
- a total quality improvement initiative
6-Stigma Quality
fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service and speed
reengineering
ways orgs make changes to operate more successfully
- total quality
- continuous improvement
- downsizing
- reengineering
- outsourcing
- offshoring
the planned elimination of jobs
downsizing
(also - rightsizing)
- hiring someone outside the company to perform business processes that could be done internally
- possibly to increase flexibility, lower overhead costs, and gain access to expertise that others may have
outsourcing
a systematic way of bringing about and managing both org. changes and changes on the indiv. level
chg mgmt
type of chg resulting when external forces have already affected an orgs’ performance
reactive
chg initiated to take advantage of targeted opportunities
proactive chg
- a statistical process used to translate cust. needs into separate tasks and the best way they are performed in concert w/ one another
- catches mistakes b4 they happen
Six Sigma
the trend toward opening up foreign mkts to internat’l trade and inv.
globalization
- the responsibility of the firm to act in the best interests of the ppl and communities affected by its activities
- focusing on this helps firms, domestically and abroad, avoid lawsuits but also improve their earnings
- both cust. and potential EEs review this when deciding where to shop or to work
corporate social responsibility
software that allows workers to interface and share info w/ one another electronically
collaborative software
workers whose responsibilities extend beyond the physical execution of work to include planning, decision making, and problem-solving
knowledge workers
- a computerized system that provides current and accurate data for purposes of control and decision-making
- lowers admin costs, increases productivity, speeding up response times, improving decision making and tracking a company’s talent
HRIS
- a situation in which an org. asks or requires EEs to take time off for either no pay or reduced pay
- alternative to downsizing and losing talent to competition
furloughing
disadv. to furloughing EEs
- costs aren’t cut as significantly as if the company downsized
- EEs usually get to keep their benefits
- those not furloughed often are required to do more work
- shifting of work to an overseas location
- cost reduction is key motivator , but now companies have found ways to grow their bus. overseas
- allocates work more efficiently across the multiple countries in which the company does bus. working 24/7
offshoring
(also known as global sourcing)
- the process of dismissing EEs who are then hired by a leasing company and contracting w/ that company to lease back the EEs
- very popular with smaller companies
EE leasing
- non-HR Mgrs who are responsible for overseeing the work of other EEs
- when combined with HR mgrs - develop and utilize the talents of EEs to their greatest potential
line mgrs
(4) major types of activites for which HR mgrs are responsible:
- Advice/Counsel
- Service
- Policy Formulation and Implementation
- Employee Advocacy
- HR mgr responsibilities that involves:
- providing advice to line mgrs w/in functional areas of expertise
Advice and Counsel
- HR mgr responsibilities that involves:
- listening to EEs’ concerns
- representing their needs to mgrs
- providing support when disruptive changes interfere w/ normal activities
EE advocacy
- HR mgr responsibilities that involves:
- make functional, technical and/or prof. services available to other ares of the org.
Service
- HR mgr responsibilities that involves:
- draft proposals and present to the top execs. for consideration and acceptance or rejection
- monitor policies w/in the org and interpret them for the org.
Policy Formulation and Implementation
set of princ. and practices whose core ideas include understanding customer needs, doing things right the first time and striving for continuous improvement
Total Quality Management
(4) areas of cultural chg that have impacted ERs
- EE rights
- concern for EE privacy
- chg’g attitudes twoard work
- balancing work and family situations
(3) areas of competency that are required of HR mgrs
- Business Mastery: know the bus. - economic and fin’l capabilities
- HR Mastery: experts in staffing, development, appraisal, rewards, team building and comm.
- Personal Credibility: must estab. personal credibility in the eyes of their int./ ext. cust.
HR planning
- having an accurate pic. of both the supply of and demand for EEs
- (2) factors have direct impact on planning and recruitment strats:
- turnover
- absenteeism
this is an indicator for an org. of how EEs respond to their work environment
turnover rate
usual calculation of turnover rate =
# of separations during the month
Total # of EEs at midmonth
‘times’
100
another calculation of turnover rate =
(if you want the rate to reflect the avoidable separations)
- S = total separations in the selection period
- US = unavoidable separations
- M = midmonth workforce
( S - US )
M
‘times’
100
(3) costs of EE turnover rate
(costs of replacing EEs)
- separation costs for the departing EE
- replacement costs for new EE
- training costs for new EE
estimated to be 2 to 3 times the monthly slry of departing EE
calculating EE absenteeism
- no uniform definition or method for calculating this
- recommended by DOL
# of worker-days lost through job absence during period
avg # of EEs X # of work days
‘times’
100
