Chapter 9 Flashcards
What are the two techniques for forecasting HR supply and definitions
Replacement Chart: list of key personnel and their possible replacements
Skills Inventory: information on the skills of all employees
Definition of planning
The development of strategies to meet a firms HR needs
Ways to reduce the workforce
Layoffs: not enough money to pay the person so they get let go on good terms
Attrition: when a person leaves the position for any reason and the spot isn’t filled
Early Retirement: lump sum of money given to the employee early
Firing: usually not on good terms, did something against the company
Definition of recruiting
The process of attracting qualified applicants
Advantages and disadvantages of external recruitment
Advantages: brings fresh perspective
Disadvantages: maybe expensive and could cause resentment among current employees
Advantages and disadvantages of internal recruitment
Advantages: motivates current employees and helps retain quality personnel
Disadvantages: cost of filling vacant position and training them
Definition of selection
The process of gathering info about applicants and finding the most appropriate choice
What is orientation?
Process of acquainting new employee with new organization
What is wage level?
The firms choice to set the level of pay at, above, or below the market wage for an industry
What is wage structure?
Sets the relative pay level for all positions
What are individual wages?
Specific payment individuals
Definition of comparable worth
Concept that seeks equal pay for equal work and skill level
What are the 6 ways you can get paid?
What is the National Labor Relations Act and Labor Management Relations Act?
(1935) established a collective bartering process in labor management relations as well as the National Labor Relations Board
What is the Fair Labor Standards Act?
(1938) establishes a minimum wage and an over time wage for over 40 hours per week