Chapter 1 Flashcards
competitivenes
a company’s ability to maintain and gain market share in its industry
human resource management
the policies, practices, and systems that influence employees’ behavior, attitudes, and performance
shared service model
a way to organize the HR function that includes centers of expertise, service centers, and business partners; can help control costs and improve the business relevance and timeliness of HR practices
self-service
giving employees online access to HR information (training, benefits, compensation, contracts, enrolling in online services, surveys, etc)
outsourcing
the practice of having another company (vendor, third party, consultant) provide services
evidence-based HR
the demonstration that human resource practices have a positive influence on the company’s key stakeholders (employees, customers, community, shareholders)
HR/workforce analytics
the practice of using quantitative and scientific methods to analyze data from human resource databases or other sources to make evidence based human resource decisions and show that HR practices influence the organization’s bottom line (including profits and costs)
sustainabilty
a company’s ability to meet its needs without sacrificing the ability of future generations to meet their needs
stakeholders
the various interest groups who have relationships with, and consequently, whose interests are tied to the organization (employees, suppliers, customers, shareholders, community)
intangible assests
a type of company asset including human capital, customer capital, social capital, and intellectual capital
knowledge workers
employees who own the intellectual means of producing a product or service
empowering
giving employees responsibility and authority to make decisions
learning organization
a culture of lifelong learning in which employees are continually trying to learn new things
change
the adoption of a new idea or behavior by a company
employee engagement
the degree to which employees are fully involved in their work and the strength of their job and company commitment
talent management
a systematic planned strategic effort by a company to attract, retain, develop, and motivate highly skilled employees and managers
alternative work arrangements
independent contractors, on-call workers, temporary workers, and contract company workers who are not employed full-time by the company
balanced scorecard
a means of performance measurement that gives managers a chance to look at their company from the perspectives of internal and external customers, employees, and shareholders
total quality management
a cooperative form of doing business that relies on the talents and capabilities of both labor and management to continually improve quality and productivity
Malcom Baldrige National Quality award
an award established in 1987 to promote quality awareness, to recognize quality achievements of U.S. companies, and to publicize successful quality strategies
ISO 9000:2000
quality standards accepted worldwide
six sigma process
system of measuring, analyzing, improving, and controlling processes once they meet quality standards
lean thinking
a process used to determine how to use less effort, time, equipment, and space but still meet customers’ requirements
internal labor force
labor force of current employees
externam labor market
persons outside the firm who are actively seeking employment
ethics
the fundamental principles of right and wrong by which employees and companies interact
Sarbanes-Oxley act of 2002
a congressional act passed in response to illegal and unethical behavior by managers and executives - the act sets stricter rules for business especially accounting practices including requiring more open and consistent disclosure of financial data, CEO’s assurance that the data is completely accurate, and provsions that affect the employe-employer relationship (ex development of a code of conduct for senior financial officers)
offshoring
exporting jobs from developed to less developed countries
reshoring
moving jobs from overseas to the U.S.
social networking
websites and blogs that facilitate interactions between people
human resource information system (HRIS)
a system used to acquire, store, manipulate, analyze, retrieve, and distribute HR information
cloud computing
a computing system that provides information technology infrastructure over a network in a self-service, modifiable, and on-demand model
HR dashboard
HR metrics such as productivity and absenteeism that are accessible by employees and managers through the company intranet or human resource information system (HRIS)
high-performance work systems
work systems that maximize the fit between the company’s social system and technical system
virtual teams
teams that are separated by time, geographic distance, culture, and/or organizational boundaries and rely exclusively on technology for interaction between team members
