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MGMT 405 Exam > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

Learning and Development

A

the formal, ongoing efforts that are made within organizations to improve the performance and self-fulfillment of their employees through a variety of educational methods and programs

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2
Q

Development

A

Long–term, career–focus

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3
Q

Training

A

short–term, job-focused

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4
Q

Aligning training with business goals

A
  1. Plan in accordance with the future
  2. identify the gaps
  3. decide on the appropriate training modality
  4. communicate the training process
  5. ensure scope for continual learning
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5
Q

ADDIE Approach

A

the framework used for designing and developing
educational and training programs
a very effective tool that facilitates the design, development, and growth of a large number of learning experiences at a high standard
- Analyze
- Design
- Develop
- Implementation
- Evaluation

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6
Q

Employee Engagement

A

a very effective tool that facilitates the design, development, and growth of a large number of learning experiences at a high standard

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7
Q

Characteristics of engaged employees

A
  • Are satisfied with their jobs
  • Enjoy their work and the organization
  • Believe that their job is important
  • Take pride in the company
  • Believe that their employer values their contributions
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8
Q

Benefits of engagement

A
  • increased productivity
  • higher retention
  • rise in profitability
  • decrease in absenteeism
  • customer satisfaction
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9
Q

Engagement is Impacted by Which Factors?

A
  • Quality of Life
  • Work
  • People
  • Opportunities
  • Total Rewards
  • Company Practices
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10
Q

How can leaders drive engagement?

A
  • appreciation
  • support
  • personal interest
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11
Q

What is retention? And how is it related to engagement?

A

the ability of an organization to
retain/keep its employees (the opposite of Turnover).

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12
Q

What is Turnover?

A

Of Employees Who Leave
= (average number of employees/number of employees leaving) x 100

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13
Q

Impact of Turnover

A
  • It is costly
  • It affects an organization’s performance
  • It may become increasingly difficult to
    manage (a talent shortage is looming)
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14
Q

Why Employees Leave?

A

Equity Theory
Inputs: experience, skills, knowledge, effort, energy, time, responsibility, flexibility
Outcome: salary, reward/bonus, security, recognition, promotion, learning, and development, good working conditions

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15
Q

Why Employees Stay?

A

Employees stay when they are embedded in their jobs and community through:
- Links: Connections with other people, groups, and organizations
- Fit: Represents the extent to which the employees see themselves as compatible with their
job, organization, and community
- Sacrifice: Represents forms of value a person would have to give up if he or she left a job

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16
Q

Job Enrichment

A
  1. Skill Variety: the employees can use a
    wide variety of their skills
  2. Task Identity: they understand how their
    job fits into the overall picture/goal
  3. Task significance: they see the meaning
    and value in their work
  4. Autonomy: they have the freedom to make
    decisions and be creative
  5. Feedback: you provide clear and direct
    feedback and advice
17
Q

Performance Management

A

the foundation of performance excellence. The process includes setting clear and specific performance expectations for each employee and providing periodic informal and formal feedback about employee performance relative to those stated goals

18
Q

Factors that impact employee performance

A

Motivation x Ability x Environment

19
Q

Solutions to performance problems

A

Must Identify the Root Cause(s)
of a Performance Problem
in order to Find the Best Solution

20
Q

Performance Appraisal Programs - Purposes

A
  1. Administrative Purposes:
    Performance Reviews provide input and data for
    many HR functions and decisions about your
    employees including: Compensation, Promotions,
    Transfers, Layoffs, HR Planning, and Training.
  2. Developmental Purposes:
    They also provide essential feedback to an
    employee about his/her daily performance and
    allows for setting goals to improve any
    performance issues. Also, focus on more long term
    goals such as employee training, career and
    professional development, and other growth plans.
21
Q

Developing an Effective Performance Appraisal Program:

A
  1. Set Goals at the Beginning of the Year with Each Employee: Goals should be based on the task, duties, and responsibilities outlined in the employee’s job description (called Management by Objectives)
  2. Define Successful Performance: Set clear performance standards and expectations for each task, duty, and responsibility and share quantifiable examples of successful performance for each – performance must be observable and measurable!
  3. Communicate Your Expectations Verbally and In Writing:
    Each employee needs to clearly understand the goals and level of performance that are expected of him or her
  4. Provide Continuous Regular Feedback throughout the Year: Take the time to praise employees for achievements as well as to evaluate their areas for improvement and learning needs to help them continuously improve –
    informal, regular feedback is vital, in addition to the yearly formal review
  5. Establish an Appeals Procedure: Employees should have the opportunity to voice disagreement with their appraisal
22
Q

Training Appraisers

A
  1. Basics of the Appraisal Program:
    - Objectives: Administrative and Developmental
    - Mechanics: Steps in the appraisal program and use of technology
  2. Elimination of Rater Error
    - Distribution Error: Leniency (too many high scores), Strictness (too many low scores), Central Tendency (too many average scores)
    - Contrast Error: An employees evaluation is biased favorably or unfavorable by the evaluation of the previous employee
    - Similar to Me Error: Appraiser rates an employee who has something in common with them higher than other employees
    - Stereotypes: Generalizations about the groups to which the employee belongs (or looks like he/she belongs) favorable
    or unfavorably affect the evaluation scores
  3. Feedback Training:
    - How to provide effective and constructive feedback to employees
23
Q

Performance Appraisal Methods

A
  1. Trait Methods
  2. Behavioral Methods
  3. Results Methods
24
Q

Types of Rating Scales

A
  1. Graphics Rating Scale: lists the traits each employee should have and rate them on a numbered scale
  2. Essay Performance Appraisal Method: ask the rater to express the strengths and weaknesses of the employee’s behavior
  3. Checklist Scale: a checklist of statements of employee traits in the form of Yes or No based questions
  4. Critical Incidents: a list of statements of very effective and ineffective behavior of an employee
  5. Work Standards Approach: establish goals openly and set targets against realistic output standards
  6. Ranking Appraisal: Rank employees from highest to lowest or from the best to worst
  7. Management by Objectives: measure employee performance by examining the extent to which predetermined objectives have been met
  8. Behaviorally Anchored Rating Scales (BARS): compare an individual’s performance against specific examples of behavior that are anchored to numerical ratings
25
Q

Performance Appraisal Meetings

A

Guidelines to Follow:
1. Divide the meeting into two sessions – one for feedback
and another for future development plans
2. Ask for self-assessment
3. Invite participation
4. Express appreciation
5. Minimize criticism
6. Change the behavior, not the person
7. Focus on problem-solving
8. Be supportive
9. Establish goals
10. Follow up day to day – frequent feedback is key

26
Q

Total Compensation Packages

A

Attract Top Talent by Including:
- Direct Compensation:
What wages, salaries, incentives, bonuses, and
commissions will you offer your employees?
- Indirect Compensation:
What other benefits can you offer them - such as
discounts on merchandise or services, gym
membership, free lunches, and beautiful office space?
- Non-financial Compensation:
Design employee recognition programs, rewarding jobs,
flexible work hours, etc. into your company.

27
Q

Components of the Wage Mix

A
  • Conditions of labor market
  • Area wage rates
  • Cost of living
  • Collective bargaining
  • Compensation policy of the organization
  • Worth of a job
  • Employee’s relative worth
  • Employer’s ability to pay
28
Q

What is Succession Planning?

A

A strategy and process for identifying and developing new leaders who can replace those who leave, retire, or pass away

29
Q

Developing Leadership Talent

A

The expansion of a person’s capacity to be effective
in leadership roles and processes.

30
Q

Why are Succession Planning and Leadership Development important?

A

the best way to reduce the effect of lost talent and underdeveloped employees is to take the time to develop a leadership-based succession plan that focuses on developing and mentoring the next generation

31
Q

Four Leadership and Succession Planning Developmental Practices

A
  1. Education
    - External Classroom Programs
    - Corporate Universities
  2. Assessments
    - Personality Inventories
    - 360 Feedback
    - Assessment Centers
    = Workplace simulation exercises
    that provide individuals with
    practice, feedback, and coaching
    on leadership behaviors
  3. Coaching
    - Executive Coaching
    - Mentoring
  4. Experiential Learning
    - Job Assignments
    - Action Learning Projects
    = Take place in project teams with
    people from other functions/departments
    working together for 6 to 12 months on
    an issue/project considered strategically
    important to the organization
32
Q

Most valuable skills for senior leaders

A
  • leading people
  • strategic planning
  • resourcefulness
  • doing whatever it takes
  • managing change
  • inspiring commitment
  • being a quick learner
  • decisiveness
  • building and mending relationships
  • composure
33
Q

Qualities of great leaders

A
  1. Vision
  2. Humility
  3. Self Awareness
  4. Integrity
  5. Commitment
  6. Help Others

MGMT 405 Exam (2 decks)

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