CHAPTER 1: HUMAN RESOURCE MANAGEMENT, STRATEGIC VIEW Flashcards
What is Human Resource Strategy?
It refers to a firm’s deployment of human capital to help to achieve and sustain an edge against its competitors.
It identifies and manages current and future needs.
What is vision?
The company has to create a goal in the future, as it can motivate employees to want to do more.
The vision should be described vividly.
Gives a direction and creates alignment with the team, vision and the whole organization.
What is mission/goal in human resource strategy?
Focuses on employee growth, development, health, well-being.
Focuses on employees to find their career path and being able to level them up into a new position.
It creates employee loyalty which can turn into higher productivity.
What is Human Resource Tactics? What are the 3 key HR challenges areas?
A program or policy that helps to move towards the strategic objective of the company.
1. Environment: external to a company
2. Organization: problems internal to a firm
3. Individual: decisions on individual level
Changes in the environment: what are the 8 factors? Describe each shortly.
- RAPID CHANGE: need to adapt (alkalmazkodni), how to overcome stress
- RISE OF THE INTERNET: how to deal with the information overload (túl sok információ)
- WORKFORCE DIVERSITY: capitalize (tőkévé formálni) workforce diversity: language, culture
- GLOBALIZATION: compete against domestic and international firms
- LEGISLATION: different regions have different rules
- COMPLEMENTARY ROLES BETWEEN WORK AND FAMILY: child care, hire couples
- SKILL SHORTAGES: increase demand (kívánság) in the service sector
- NATURAL DISASTERS: the organization must be prepared to respond to any situation.
Changes in the organization: What are the 6 factors? Describe shortly.
- DECENTRALIZATION: transferring responsibility and decision making from central office to managers, emloyees
- DOWNSIZING: reduce workforce to improve bottom line
- ORGANIZATIONAL RESTRUCTURING: inter organizational bonding forms: joint ventures, merges
- SELF-MANAGED WORK TEAMS: freedom, openness
- ORGANIZATIONAL CULTURE: define norms, values
- TECHNOLOGY: to monitor employees’ productivity
Changes within individuals: Describe the 5 factors shortly.
- MATCHING PEOPLE AND ORGANIZATION: attract and retain (visszatart) people best fit in the company
- ETHICAL UNCERTAINTY: social responsibility
- PRODUCTIVITY: how much value individual employees add to the organization
- BRAIN DRAIN: loss of high-talent
- JOB INSECURITY: source of stress for the employees
What are the two types of strategic HR choices? Describe each
- DEFENDER: conservative formulation, stable environment, cost control
- PROSPECTOR: flexible and decentralized structure, innovation, unstable environment
Describe the two perspectives when it comes to work flows (how the tasks are organized) (munkamenet)
Defender: control focused, specific job description, detailed task planning
Prospector: innovation focused, broad job description, flexible task planning
Describe the two perspectives when it comes to staffing (munkaerő-biztosítás)
Defender: internal recruiting, formal processes of hiring, selection made by HR departments
Prospector: external recruiting, non-formal process of hiring, selection made by the professional colleagues
Describe the two perspectives when it comes to employee separations (elválás/leválasztás)
Defender: motivation to leave the company voluntarily, continuous interest on the laid-off employees
Prospector: layoffs, leaving laid off employees to manage themselves, avoiding hiring ex-employees
Describe the two perspectives when it comes to performance evaluation (teljesítmény kiértékelése)
Defender: uniform evaluation process, used as control mechanism
Prospector: customized evaluation, used as an improvement tool
Describe the two factors when it comes to training and career development
Defender: individual training, specific training, building capabilities
Prospector: team based training, external training, based on flexibility, by skills and capabilities
Describe the two perspectives when it comes to compensation (employee payment)
Defender: fixed compensation, linked to the job, centralization of compensation
Prospector: variable compensation, by individual performance, decentralization of compensation
What are the 4 key factors which help to increase the firm’s performance: in which cases is it high and when is it low?
- DEGREE OF UNCERTAINTY: low, when there is a detailed planning, specific training for the job; high when it is a weak planning
- DYNAMISM: is high, when there is flexibility, innovation of new products, variable compensation
- DEGREE OF CHANGE: is high, when there is a broad definition of job processes, low when there are detailed job descriptions, uniform evaluation processes
- COMPLEXITY: is low, when there is an internal recruiting, centralization of compensation; high, when there is external recruiting and decentralization.
