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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
what's a key part of orientation?
check-in with new employees to see how they are doing and if any additional support is needed
26
when companies invest in developing their employees, the company will benefit in the ____
long-term
27
spending on training program produces a return of ___ more productivity vs employees without training opportunities
3-5%
28
what are some development opportunities
on-the job training off the job training online training apprenticeship programs job simulations
29
define on the job training
where employees can learn by doing or watching others
30
define off the job training
employees may learn off-site and away from the office, in a comfortable environment
31
define online training
learning that can be accessed online by many employees when it's most convenient for them
32
what are the benefits of online training?
e-learning is more cost-effective + can better reach a highly mobile workforce
33
what's the 10-20-70 rule in training?
10% learning from class-room style training 20% learning in a semi-formal setting 70% learning from experience eon the job
34
what's the role of apprenticeship programs
new staff world alongside experienced employees to master skills as seen in skilled trades
35
what's the role of job simulations
use of equipment duplicating job conditions to learning a safe environment with no harm to the employee, customers or company
36
leadership training can include the following
coaching understudy positions job rotation
37
what's the role of coaching in leadership development
one on discussion can take place within a company to support emerging leaders with their goals + career direction
38
what's the role of understudy position in leadership development?
emerging leader leaders support leaders with planning + tasks, effectively taking on more and more responsibilities that hey might inherit in the future
39
what's the role of job rotation in leadership development
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
what's the role of performance evalautions
measuring performance against standards, identify training needs.
41
what are some performance appraisal steps that should be considered
1. establish/communicate standards 2. evaluate performance 3. share/discuss results 4. make decisions
42
give some engagement motivation drivers
career opportunities organization reputation pay brand alignment innovation managing performance valuing people/people focus recognition work processes communication
43
what are some trends in engagement motivation drivers
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
define compensation
remuneration provided to employees in exchange for their services
45
common pay system include:
hourly wage salary commission plans bonus plans profit sharing stock options
46
define commission plans
compensation based on a percentage of sales
47
define bonus plans
additional money or gifts for excellent performance of achieving goals
48
define profit sharing
a bonus awarded if the company is able to reach certain targets + shared with the team that helped reach them
49
define stock options in terms of compensation
an opportunities to purchase a company's stock at a preferred price
50
define fringe benefits
optional beneifts that copmany may grant to help attract + retain employees
51
what are some fringe benefits?
extended healthcare plans dental plans life + disability insurance pensions/RRSPs wellness benefits additional paid time off
52
define cafeteria-style (flexible) benefits plans
employees can choose form a select set of benefits that best suit their needs up to specific dollar amounts
53
what are some common work arrangements
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
what are some workplace persk
gym facilities, office dogs, sleeping/quiet rooms
55
what's the cost of losing an employee?
tens of thousands of dollars up to 2x their annual salary depending on the role, company and industry
56
why do companies want to manage their brand as an employer with offboarding processes?
so it's a positive experience as departing employees are ambassadors for a company (alumni)
57
what are the types of employee exits
end of term voluntary departures termination
58
define turnover rate
percentage of employees that leave the company each year
59
define knowledge management
capture the wealth of knowledge + best practices that could be lost upon the departure of the retiring employee
60
why may terminations occur?
company reorganization/downsize due to poor performance or inappropriate behaviour
61
what happens to termination without cause
companies are required to provide a pay in lieu and severance given an employee's years of service
62
what are some HRM laws to be aware of
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
are employers responsible for deducting CPP/EI contribution + income tax on payment made to employees?
yes
64
what are some trends in HRM?
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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