Chapter 1: The Rewards and Challenges on Human Resource Management Flashcards
collaborative software
software that allows workers to interface and share information with one another electronically
corporate social responsibility
the responsibility of the firm to act in the best interests of the people and communities affected by its activities
downsizing
planned elimination of jobs
employee leasing
the process of dismissing employees who are then hired by a leasing company )which handles all HR-related activities) and contracting with that company to lease back the employees
furloughing
a situation in which an organization asks or requires employees to take time off for either no pay or reduced pay
home-shoring
occurs when a firm relocates jobs abroad back to its domestic market
human capital
the knowledge, skills, and other capabilities (KSAO’s) of individuals that have economic value to an organization
they cannot be managed the same way that companies manage jobs, products and technologies
human resource information systems (HRIS)
a computerized system that provides current and accurate data for purposes of control and decision making in HR
consider:
- fit of the application to the firm’s employee base
- ability to upgrade or customize the application
- compatibility with current system
- user friendliness
- collaboration capabilities
- recruiting and applicant tracking
- scheduling
- availability of technical support
- time required to implement and train staff members to the use of HRIS
- initial costs and annual maintenance costs
human resource management (HRM)
the process of managing human talent to achieve an organization’s objectives
the goal is to attract and retain the best talent!
knowledge workers
workers whose responsibilities extent beyond the physical execution of work to include planning, decision-making, and problem-solving
line managers
non-HR managers who are responsible for overseeing the work of other employees
nearshoring
occurs when a firm relocates jobs abroad to nations closer to its domestic market
offshoring
the business practice of sending jobs to other countries; work that was previously carried out in one country is moved to another country
outsourcing
contracting outside the organization to have work done that formerly was done by internal employees
sustainability
doing business in a way that does as little harm to the environment and depletes as few natural resources as possible
what can understating HRM do for your firm?
understanding HRM practices and issues can help you better compete in the marketplace - as an employee, manager, or HR manager
an organization’s success increasingly depends on the knowledge, skills, and abilities of its employees. to “compete through people,” organizations have to do a good job of managing human capital: the knowledge, sills, and capabilities that have value to organizations
how is globalization requiring HRM personnel to respond?
it influences the number and kinds of jobs that are available
and requires that organizations balance a complicated set of issues related to managing people working under different business conditions in different geographies, cultures, and legal environments
the fast pace of globalization along with corporate scandals over the years has led to a new focus on corporate social responsibility and sustainability . companies are finding that having a good reputation for pursuing these efforts can inhale their revenues and improve the caliber of talent they are able to attract
what transition are HRM personnel having to manage as it pertains to changing work demands?
technology has tended to reduce the number of jobs that require little skill and to increase the number of jobs that require considerable skill, a shift we refer to as moving from touch labor to knowledge labor
how are HRM personnel maximizing productivity in the workplace?
productivity is “output gained from a fixed amount of inputs.” organizations can increase their productivity either by reducing their inputs (the cost approach) or by increasing the amount that employees produce by adding more human and/or physical capital to the process
to maximize productivity and contain costs, organizations have to manage the size of their workforces (offshoring, near shoring, outsourcing, downsizing, furloughing, using part-time employees, and leasing them from professional employment agencies)
How are HRM personnel responding to the growing diversity of the workforce?
having to do more to address employee concerns and to maximize the benefit of different kinds of employees
HR managers have to keep abreast of the educational abilities of the talent available to their organization
what role do HR managers play when it comes to meeting challenges the firm faces?
they are called on for strategic advice and ethics counsels
various service activities
policy formulation and implementation
employee advocacy
what is the goal of HR?
to support companies in gaining a competitive edge through the following:
- bring in and retain top talent
- ensure employee rights
- build the company’s reputation
- protect the company from legal issues
- prepare the company for future challenges
what are the functions of HR departments?
- job analysis
- HR planning (succession planning and organization charts)
- recruiting
- selection
- training and development
- performance management
- compensation
- benefits
- unions
- safety and health
- DOCUMENTATION
what do HR supervisors do?
- help define jobs
- motivate, with support from pay, benefits, and other rewards
- forecast HR needs
- communicate policies
- provide training
- interview and select candidates
- appraise performance
- recommend pay increases and promotions
what are three types of HR challenges?
environmental (internet revolution/legal issues/downsizing)
organizational (teams/downsizing/evaluating HR results)
and individual (attraction/retention/productivity/stress and work-family balance)
HR DEALS WITH THESE ON A DAILY BASIS
hot topics and trends in HRM
- training, faster pacing, and virtual teams
- technology development
- globalization
- diversity
the aging workforce are retiring (gen X and baby boomers) and the markets are experiencing a shortage of talent
this has opened the door to some age-related harassment in the workplace with many employees of large companies being older
globalization in HRM
due to globalization, firms have to balance a complicated set of issues
- different geographies, including different cultures, employment laws, and business practices, and the safety of employees and facilities abroad
the internet and social media have created more informed workforces around the world, which makes people harder to retain when opportunities to work have never been more public
HRM and maximizing productivity
the US remains the world’s most productive country
outputs gained from a fixed amount of inputs
managing the size of the workforce
part of managing productivity is matching the size of the workforce to the demand and requirements of a firm given technology, the firm’s strategic direction, and global competition
can be achieved through:
- offshoring
- outsourcing
- nearshoring
- homeshoring
- furloughing
managing pay and benefits in HRM
most firms closely monitor employee pay and benefit programs. skyrocketing health care costs and complying with the nation’s new health care reform laws (obamacare), are perhaps the biggest concerns companies are facing when it comes to compensation and benefits
they can manage benefits through employee leasing
responding to the demographic and diversity challenges in the workforce
To forecast trends to support the strategies of their organizations, HR managers frequently analyze the capabilities of different demographic groups and how well each is represented in both fast-growing and slow-growing occupations
Minorities in the United States are increasing relative to the total population. U.S. workers are becoming more diverse as well. Much of the growth of the minority workforce has been due to not only the arrival of immigrants but also high birthrates among some minority groups, such as Hispanics
labor force and hispanics
2010: 15% hispanic and 85% non hispanic
2050: 30% hispanic and 70% non hispanic
age distribution in the workforce
2000: 13% were baby boomers
2010: 19% were baby boomers
2050: 24% will be baby boomers
gender distribution in the workforce
The educational attainment of women is also increasing relative to men
three out of every five college graduates are women. Women’s wages have increased too
In 1979, on average, women made 62 percent of what men made. Although the gap has not closed, it has narrowed. Women who are employed full time today make about 79 percent of what men employed full time make
changing employee rights
laws affecting employee rights are continually changing
heightened privacy concerns for employees
HR managers and their staff members generally recognize the importance of discretion in handling all types of information about employees
balancing work and family
a nuanced issue now that technology is allowing work to enter the home more than ever before
employee management
a situation in which workers are enthusiastic and immersed in their work to a degree that it improves the performance of their companies
