chapter 12 - Summary** Flashcards
What is human resource management?
the process of evaluating human resource needs
- finding people to fill those needs
- getting the best work for employees
- do this by providing the right incentives and job environment
- all with the goal of meeting organizational objectives
current challenges in HR management
- shortage of traind workers
- abundance of unskilled workers
- skilled workers in delciing industries are requiring new training
- changing emmplyees work attuides
- complex law and regulations
current opportunities in HR management
- changing demographics
- more women
-more minorities - immigrants
- older workers
What is the 5 steps in HR planning
- preparing an HR inventory of the organization’s employees
- preparing job analysis
- assessing future demand
- assessing future supply
- establishing a strategic plan
Methods companies use to recruit more employees.
External:
1) advertisements
2) public or private employment aganiceys
3)school placement offices
4) management consultants
5) professional organizations
6) referrals
7) walk-ins
8) social media
Internal:
1) hiring from within the firm
(ex., transfers & promotions)
2) employees who recommend others to hire
Why has recruitment become more challenging
- legal restrictions complicate hiring practices
- finding suitable employees can also be difficult If companies are considered unattractive workplaces
What is the 6-step selection process for hiring employees?
- obtaining complete application forms
- conducting initial and follow-up interviews
- giving employee tests
- conducting background investigations
- obtaining results from physical exams
- establishing a trial period of employment
employee training methods
Training programs may include:
1. orientation
2. on the job training
3. apprentice programs
4. off the job training
5. online training
6. vestibule training
7. job simulation
methods used to develop managerial skills
- On-the-job coaching
- understudy positions
- job rotations
- off the job courses and training
How does networking fit in thhis process/what is it?
networking is
- the process of esabishiing contacts with key managers within and outside the organizations to get additional development assistance
what is a performance appraisal
an evaluation of the performance level of employees against established standards to make decisions about promotions, compensation, training, or termination
6 steps of appraising employees’ performance
- establish performance standards
- communicate those standards
- evaluate performance
- discuss results
- take corrective action when needed
- Use the results for decisions about promotions, compensation, training or termination
What are examples of compensation systems?
- salay systems
- hourly wages
- piecework
- commission plans
- Profit-sharing plans
- stock options
objectives/What are employee compensation programs
Compensation:
is one of the main tools that companies use to attract and retain qualified employees
Compensation programs:
attract the right kinds of people the organization needs and in sufficient numbers
– they provide employees with an incentive to work perfectly and productively and a financial sense of security though fringe benefits
What are fringe benefits? and examples
Examples:
- sick leave
- vacation pay
- pension plans
- health plans
**Provide additional compensation to employees other than base wage
** Cafeteria style fringe benefits let employees choose the benefits they want, up to a certain dollar amount
