Chapter 14 - Human Resources Management Flashcards
What is the goal of human resource management?
To maximize the effectiveness of the workforce.
TO GET HE HIGHEST RETURN ON INVESTMENT IN HR
What is the strategic planning cycle of HR management?
1) Recruitment
2) Selection
3) Training
4) Evaluation
5) Compensation/Benefits
6) Separation
What are the steps of hiring new employees?
1) Application
2) Interviews
3) Testing
4) References / background checks
What is orientation vs onboarding?
Orientation is a one-time event that introduces a new employee to the company.
Onboarding is an ongoing process of integrating new employees into the company. Lasts up to min 6 months up to a year.
What factors are involved in how much somebody get’s compensated?
- Competition
- Contribution
- Ability to pay
- Living expenses
- Legislation
What are 5 different options for paying extra to employees based on performance?
- Commission
- Bonuses
- Profit sharing
- Stock options
- Pay for knowledge
What is the employment equity act?
Aims to achieve equality in the workplace; applies to all federally regulated workplaces with 100 or more employees.
What is the employment standards legistlation?
Defines minimum workplace standards, such as hours of work and minimum wage.
What are current human resource issues in today’s economy?
- Connecting human resources with strategy
- Wage gap
- Old/Young workers
- Work/life balance
- Layoffs and outsourcing
- Globalization
- Lawsuits
- Gender equal workplaces
What are the challenges that the human resources function faces?
no idea
What are the key responsibilities of human resources?
1) Recruitment
2) Selection
3) Training
4) Evaluation
5) Compensation/Benefits
6) Separation
What key federal legislation impacts human resources?
Employment Standards Legislation
How can companies nurture their human investment so it yields the greatest return?
Promote CAREER DEVELOPMENT
Why do many HR managers struggle to add value to their firms?
They lack STRATEGIC skills.
What is the key problem that HR managers deal with when TRYING to add value to their firm?
Lack of support from other managers.
