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AFM 132 > AFM 132 - Chp.10 - Human Resources Management > Flashcards

AFM 132 - Chp.10 - Human Resources Management Flashcards

1
Q

how does an organization plan and manage one of the most valuable and expensive resources?

A

human resources management (HRM)

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2
Q

define the employee lifecycle (ELC)

A

considers how employees move through a company

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3
Q

what’s the role of the ELC?

A

help the company design the overall employee experience as carefully as they would plan out the customer experience

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4
Q

what are the components of the ELC?

A

recruitment
onboarding
development
retention
offboarding

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5
Q

what’s the role of recruitment?

A

to attract candidates, select the right talent that best fits the roles in a company

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6
Q

what’s the role of onboarding

A

providing new employees with time and resources to learn more about the company, their responsibilities, and to meet their coworkers

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7
Q

what’s the role of development

A

enhancing the potential of employees, both professionally and personally, by providing learnings opportunities to develop their skills and abilities in the short and long term

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8
Q

what’s the role of retention

A

a focus on continually motivating and engaging employees, with the aim to manage employee satisfaction to keep top talent

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9
Q

what’s the role of offboarding

A

managing employee departures, both voluntary and involuntary

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10
Q

proper development + implementation of an ELC can _____ a company in attracting/retaining top talent, which ____ the overall reputation for a company and its brand

A

support, enhance

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11
Q

an employer’s brand has been suggested to be:

A

the image of your organization as a “great place to work” in the mind of current employees and key stakeholder in the external market

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12
Q

define recruitment

A

process of attracting + selecting quality talent that best fit the needs for the roles in a company

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13
Q

recruitment involve a series of____?

A

efforts to gain awareness and generate interest in the job opportunities available, conducting an active search for qualified candidates and deciding upon the best candidate(s) that match company needs

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14
Q

what are the steps in the 5-step recruitment plan?

A
  1. prepare an effective job description
  2. use the right recruitment tools
  3. conduct an initial screen of applicants
  4. interview the best candidates
  5. offer the job
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15
Q

define job descvription

A

specifies the responsibilities, working conditions, connection with other roles and experiences or skills an employee should possess to be successful in a role

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16
Q

why do some companies have policies that require jobs to be advertised internally first?

A

to promote a culture of growth/development

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17
Q

what are the external avenues to publicize employment opportunities + attract candidates

A
  1. company website
  2. social media
  3. online job boards
  4. advertising
  5. employment agencies
  6. word of mouth
  7. recruiting from post-secondary to attract co-op students
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18
Q

what are the steps to an initial screen of applicants?

A

use of software to help screen applicants
phone interviews
social media profiles
background checks

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19
Q

what upfront planning is required in interviewing the best candidates

A
  1. decision on who should be involved
  2. managing interview logistics
  3. how to evaluate each interview
  4. how to select the best candidate(s)
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20
Q

are interview one-sided?

A

no

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21
Q

what types of questions are asked during an interview?

A
  1. job ability
  2. personality
  3. ask for their questions
  4. employment assessments
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22
Q

define onboarding

A

the process of providing orientation for new employees

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23
Q

orientation traditionally reinforces a company’s _____

A

vision, mission, and values

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24
Q

what can be shared about a company during onboarding/orientation

A

company policies + procedures, codes of conduct, dress codes, work hours. workplace health and safety, confidentiality requirements, performance evaluation, security, emergency procedures

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25
Q

what’s a key part of orientation?

A

check-in with new employees to see how they are doing and if any additional support is needed

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26
Q

when companies invest in developing their employees, the company will benefit in the ____

A

long-term

27
Q

spending on training program produces a return of ___ more productivity vs employees without training opportunities

A

3-5%

28
Q

what are some development opportunities

A

on-the job training
off the job training
online training
apprenticeship programs
job simulations

29
Q

define on the job training

A

where employees can learn by doing or watching others

30
Q

define off the job training

A

employees may learn off-site and away from the office, in a comfortable environment

31
Q

define online training

A

learning that can be accessed online by many employees when it’s most convenient for them

32
Q

what are the benefits of online training?

A

e-learning is more cost-effective + can better reach a highly mobile workforce

33
Q

what’s the 10-20-70 rule in training?

A

10% learning from class-room style training
20% learning in a semi-formal setting
70% learning from experience eon the job

34
Q

what’s the role of apprenticeship programs

A

new staff world alongside experienced employees to master skills as seen in skilled trades

35
Q

what’s the role of job simulations

A

use of equipment duplicating job conditions to learning a safe environment with no harm to the employee, customers or company

36
Q

leadership training can include the following

A

coaching
understudy positions
job rotation

37
Q

what’s the role of coaching in leadership development

A

one on discussion can take place within a company to support emerging leaders with their goals + career direction

38
Q

what’s the role of understudy position in leadership development?

A

emerging leader leaders support leaders with planning + tasks, effectively taking on more and more responsibilities that hey might inherit in the future

39
Q

what’s the role of job rotation in leadership development

A

future leaders can be groomed with exposure to different areas of the business, gaining new skills/perspectives + connecting with many other in the company

40
Q

what’s the role of performance evalautions

A

measuring performance against standards, identify training needs.

41
Q

what are some performance appraisal steps that should be considered

A
  1. establish/communicate standards
  2. evaluate performance
  3. share/discuss results
  4. make decisions
42
Q

give some engagement motivation drivers

A

career opportunities
organization reputation
pay
brand alignment
innovation
managing performance
valuing people/people focus
recognition
work processes
communication

43
Q

what are some trends in engagement motivation drivers

A

career opportunities ranked high for all perspectives (world region, generation, job level)

compensation is of greater importance for those launching their careers

organization reputation + brand alignment made the top 5 in most perspectives

44
Q

define compensation

A

remuneration provided to employees in exchange for their services

45
Q

common pay system include:

A

hourly wage
salary
commission plans
bonus plans
profit sharing
stock options

46
Q

define commission plans

A

compensation based on a percentage of sales

47
Q

define bonus plans

A

additional money or gifts for excellent performance of achieving goals

48
Q

define profit sharing

A

a bonus awarded if the company is able to reach certain targets + shared with the team that helped reach them

49
Q

define stock options in terms of compensation

A

an opportunities to purchase a company’s stock at a preferred price

50
Q

define fringe benefits

A

optional beneifts that copmany may grant to help attract + retain employees

51
Q

what are some fringe benefits?

A

extended healthcare plans
dental plans
life + disability insurance
pensions/RRSPs
wellness benefits
additional paid time off

52
Q

define cafeteria-style (flexible) benefits plans

A

employees can choose form a select set of benefits that best suit their needs up to specific dollar amounts

53
Q

what are some common work arrangements

A

flextime plans - employees can arrive + leave work at times that can accommodate their personal + professional responsibilities

compressed workweek - employees that work their required hours over a reduced number of days to have a longer weekend

telework - employees have the option to work from home or outside the office

54
Q

what are some workplace persk

A

gym facilities, office dogs, sleeping/quiet rooms

55
Q

what’s the cost of losing an employee?

A

tens of thousands of dollars up to 2x their annual salary depending on the role, company and industry

56
Q

why do companies want to manage their brand as an employer with offboarding processes?

A

so it’s a positive experience as departing employees are ambassadors for a company (alumni)

57
Q

what are the types of employee exits

A

end of term
voluntary departures
termination

58
Q

define turnover rate

A

percentage of employees that leave the company each year

59
Q

define knowledge management

A

capture the wealth of knowledge + best practices that could be lost upon the departure of the retiring employee

60
Q

why may terminations occur?

A

company reorganization/downsize

due to poor performance or inappropriate behaviour

61
Q

what happens to termination without cause

A

companies are required to provide a pay in lieu and severance given an employee’s years of service

62
Q

what are some HRM laws to be aware of

A

employment standard - fair treatment, minimum wage, annual vacations

workplace health + safety regulations - protect employees from work-related injuries + illnesses

employment equity + human rights - respectful work environments, protect employees from discrimination + harassment in the workplace

63
Q

are employers responsible for deducting CPP/EI contribution + income tax on payment made to employees?

A

yes

64
Q

what are some trends in HRM?

A
  1. changing demographics of the workforce
  2. managing workplace diversity
  3. pay equity
  4. harassment policies
  5. mental health wellness
  6. global workforce
  7. evolving knowledge _ skill requirements
  8. shift in employee attitudes
  9. contingent workers

AFM 132 (12 decks)

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