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HUMAN RESOURCES > EXAM 1 HUMAN RESOUR > Flashcards

EXAM 1 HUMAN RESOUR Flashcards

1
Q

The proposition an organization follows for how to compete successfully and thereby survive and grow

A

Strategy

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2
Q

The process of defining organization strategy and allocating resources toward its achievement

A

Strategic Planning

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3
Q

What are the steps in the strategic planning process?

A
  1. Organizational Mission
  2. SWOT Analysis
  3. Establish Goals and Objectives
  4. Formulate Organizational Strategy
  5. Formulate Supporting Functional Strategies
  6. Implement
  7. Evaluate and Reassess
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4
Q

Definition: The guiding force and core reason for existence of the organization and what makes it unique

A

Organizational Mission

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5
Q

Definition: The design of formal systems in an organization to manage human talent for accomplishing organizational goals.

A

Human Resource Management

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6
Q

Organizations must manage four types of assets to be successful:

A
  1. Physical Assets
  2. Financial Assets
  3. Intellectual Property Assets
  4. Human Assets
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7
Q

Definition: The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce.

A

Human Capital aka Intellectual Capital

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8
Q

To contribute in the strategic planning process, HR professionals provide their perspective and expertise to operating managers by doing the following:

A
  • Understanding the business: Knowing the financials and key drivers of business success is important to understanding the need for certain strategies.
  • Focusing on the key business goals: Programs that have the greatest relevance to business objectives should get priority.
  • Knowing what to measure: Metrics are a vital part of assessing success, which means picking those measures that directly relate to the business goals.
  • Preparing for the future: Strategic thinking requires preparing for the future, not focusing on the past—except as a predictor of the future.
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9
Q

Definition: A corporation that has facilities and other assets in at least one country other than its home country.

A

Multinational Corporation

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10
Q

Relocation of a business process or operation by a company from one country or another

A

Offshoring

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11
Q

Definition: Entails providing input into organizational strategic planning and appropriate use of HR management practices to gain competitive advantage.

A

Strategic HR Management

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12
Q

Definition: The process of analyzing and identifying the need for and availability of people so that the organization can meet its strategic objectives.

A

Human Resource Planning

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13
Q

Definition: The assessment of external and internal environmental conditions that affect the organization.

A

Environmental Scanning

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14
Q

Definition: The process of identifying a plan for the orderly replacement of key employees.

A

Succession Planning

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15
Q

When scanning the potential and future workforce, it is important to consider a number of variables, including:

A
  • Aging of the workforce
  • Growing diversity of workers
  • Female workers and work–life balancing concerns
  • Availability of contingent workers
  • Outsourcing possibilities
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16
Q

Definition: Using information from the past and the present to identify expected future conditions.

A

Forecasting

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17
Q

HR forecasting should be done over three planning periods:

A

short range, intermediate range, and long range.

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18
Q

What are the steps in the HR Planning Process?

A
  1. Review Organizations Environmental Analysis/Strategic Plans
  2. Assess External & Internal Workforce
  3. Compile HR Planning Forecasts
  4. Develop HR Staffing Plan and Actions
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19
Q

Definition: Temporary payments made to laid-off employees to ease the financial burden of unemployment.

A

Severance Benefits

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20
Q

Definition: Transferring the management and performance of a business function to an external service provider.

A

Outsourcing

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21
Q

Definition: Nontraditional schedules that provide flexibility to employees.

A

Alternate Work Arrangements

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22
Q

Definition: A comprehensive assessment of all aspects of the business being acquired.

A

Due Diligence

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23
Q

Four Important Factors In Changing Culture:

A
  1. Define the Desired Behaviors
  2. Deploy Role Models
  3. Provide Meaningful Incentives
  4. Provide Clear and Consistent Messages
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24
Q

Factors Affecting External Pool of Employees

A
  • Economic and Governmental Factors
  • Geographic/Competitive Evaluations
  • Changing Workforce Considerations
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25
Q

Definition: The ability to produce a specific desired effect or result that can be measured.

A

Effectiveness

26
Q

Definition: The degree to which operations are done in an economical manner.

A

Efficiency

27
Q

Definition: Specific measures of HR performance indicators.

A

HR Metrics

28
Q

Definition: An evidence-based approach to making HR decisions on the basis of quantitative tools and models.

A

HR Analytics

29
Q

Definition: Comparing the business results to industry standards.

A

Benchmarking

30
Q

What are the 4 measures of a balanced scorecard?

A
  1. Internal Business Processes
  2. Customer Relations
  3. Financial Measures
  4. Learning and Growth Activities
31
Q

Formula for ROI

A

C / (A+B)
A = Operating costs for a new or enhanced system for the time period
B = One-time cost of acquisition and implementation
C = Value of gains from productivity improvements for the time period

32
Q

Calculation showing the value of an investment.

A

Return on Investment

33
Q

is an adjusted operating profitability figure calculated by subtracting all operating expenses except for labor expenses from revenue and dividing by the total full-time head count.

A

Human Capital Value Added

34
Q

Formula for Human Capital Value Added

A

(Revenue - (Operating Expense - (Compensation + Benefit Costs)))
/
Full-time Head Count

35
Q

directly shows the amount of profit derived from investments in labor, the leverage on labor cost. The formula for HCROI uses the same adjusted operating profitability figure as for HCVA, but it is divided by the human capital cost:

A

Human Capital Return on Investment

36
Q

What is the formula for Human Capital Return on Investment

A

(Revenue - (Operating Expense - (Compensation + Benefit Costs)))
/
(Compensation + Benefit Costs)

37
Q

The supply pool from which employers attract employees.

A

Labor markets

38
Q

All individuals who are available for selection if all possible recruitment strategies are used.

A

Labor Force Population

39
Q

A subset of the labor force population that is available for selection using a particular recruiting approach

A

Applicant population

40
Q

All persons who are actually evaluated for selection.

A

Applicant pool

41
Q

Image of the organization that is held by both employees and outsiders.

A

Employment brand

42
Q

Employment agencies that focus their efforts on executive, managerial, and professional positions.

A

Headhunters

43
Q

System in which the employer provides notices of job openings and employees respond by applying for specific openings.

A

Job posting

44
Q

Seeking out former employees and recruiting them again to work for an organization.

A

Rerecruiting

45
Q

Cost of recruiting equation

A

total recruiting costs
/
number of recruits hired

46
Q

Comparison of the number of applicants at one stage of the recruiting process with the number at the next stage.

A

Yield ratio

47
Q

Percentage hired from a given group of candidates.

A

Selection rate

48
Q

Percent of applicants hired divided by total number of applicants offered jobs.

A

Acceptance rate

49
Q

Consideration of the following recruiting activities should be done to make recruiting more effective:

A 
resume mining
applicant tracking
employer career website
internal mobility
realistic job previews
responsive recruitment
50
Q

A longer-term measure of recruiting effectiveness is the _____

A

success rate of applicants.

51
Q

The process of choosing individuals with the correct qualifications needed to fill jobs in an organization.

A

Selection

52
Q

The investment of time and effort in selecting the right people for jobs will make managing them as employees much less difficult because many problems are eliminated.

A

Hire hard, manage easy.

53
Q

When people without the appropriate aptitudes are selected, employers will have difficulty training them to do those jobs that they do not fit.2

A

Good training will not make up for bad selection.

54
Q

Fitting a person to the right job.

A

Placement

55
Q

Matching the KSAs of individuals with the characteristics of jobs.

A

Person/job fit

56
Q

The congruence between individuals and organizational factors.

A

Person/organization fit

57
Q

Job candidates are attracted to and selected by firms where similar types of individuals are employed and individuals who are different quit their jobs to work elsewhere.

A

Attraction-selection-attrition (ASA) theory

58
Q

Characteristic that a person must possess to successfully perform work.

A

Selection criterion

59
Q

Measurable or visible indicators of selection criteria.

A

Predictors of selection criteria

60
Q

Index number that gives the relationship between a predictor variable and a criterion variable.

A

Correlation coefficient

61
Q

Measured when an employer tests current employees and correlates the scores with their performance ratings.

A

Concurrent validity

62
Q

Measured when test results of applicants are compared with subsequent job performance.

A

Predictive validity

HUMAN RESOURCES (1 decks)

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