Chapter 1 Flashcards
What is HRM?
policies, practices, and systems that influence behaviour, attitudes, and performances (“people practises)
What is competitiveness?
company’s ability to maintain and gain market share in its industry (related to company effectiveness - satisfaction of stakeholder’s needs)
List 8 HRM practises.
PATCHERS
- performance mgmt
- analysis of work design
- training
- compensation
- HR planning
- employee relations
- recruiting
- selection
What are the 2 important challenges of HR?
- shifting focus of strategic to the future (from current operations)
- preparing non HR managers to develop and implement HR practises
What is evidence based HR?
demonstrating that HR practises have positive influence on company’s bottom line or the company’s stakeholders
What is an HR generalist’s role?
wide range of services; recruiting, compensation, employee relations
List the 6 HR competancies
C
CST
BO
- credible activist
- cultural steward, strategic architect, talent manager/org designer
- business ally, operational executor
What is sustainability?
ability to survive and exceed without sacrificing resources of employees, community, environment
List stakeholders in order of importance
SCEC
shareholders, customers, environment, community
What are the 4 type of intangible assets?
CHIS
human capital, customer capital, intellectual capital, social capital
Top LONG TERM HR challenges?
SMKMS
- strategic workforce planning
- management
- knowledge transfer
- management/leadership development
- succession mgmt
Top SHORT TERM HR challenges?
RALAR
- retaining
- attracting
- leadership capacity
- aging workforce
- recruiting
What is a balanced scorecard?
performance measurement that looks at company from perspective of internal/external customers, employees, and shareholders
What is balanced scorecard used for?
- link HRM to business strategies
- evaluate extent of which HRM help objectives
What are the main legal areas that require HR compliance?
CHEPS
- compensation
- health and safety
- equity
- privacy
- job security
What is an ethical/value-based approach?
requires HR involvement in company policies and practises
What is role overload?
combo of too much responsibility and too little time
due to inadequate staff, high expectations, complex interdependent tasks
What are the 2 key areas necessary to eliminate role overload?
- immediate manager
- organizational culture
What is total quality mgmt (TQM)?
companywide effort to improve the ways people, machines, and systems accomplish work
What is the global challenge?
involvement in intl markers, and the entry of foreign competitors into domestic markets
What are high performance work systems?
work systems that max the fit between company’s social system and technical systems
What are the categories of firm activities and the percent of time spent on them?
- transformational (5-15%)
- traditional (15-30%)
- transactional (65-75%)
