PREMIDTERM Flashcards
deals with the ”PEOPLE” dimension of management
HRM
are the policies, practices, and systems that influence employees’ behavior, attitudes, and performance
Human Resource Management
The proper handling of employees who are assigned different tasks and given opportunities to grow in their careers, develop their skills, and avail of and enjoy the benefits and rewards that the company provides.
HRM
____begins by defining a talent strategy in the context of the business strategy. I
Talent Management
Ensures that companies have high performing leaders to run the company.
Leadership Development
Defines the kind of bench strength6 that is necessary for succession (top down – position-driven).
Succession Management
Creates awareness of employees’ career goals (bottom up – employee-driven).
Career Management
Provides a vehicle for assessing talent.
Performance Management
The process for ensuring that the human resource requirements of an organization are identified and plans are made for satisfying those requirements
HRP
means devising plans, strategies, and tools to provide the right number of people with the right skills and qualifications at the right time.
HRP
___with different departments to strategize the right number of employees and positions needed in each department.
Coordination
___or the estimation of the costs of employment of human resources
Consideration
____of activities and tasks in each department by making sure that the right number of workers and positions are obtained
Concentration
IMPORTANCE OF HRP
HRP sees to it that the company can achieve its mission and vision by having the right people with the right skills deployed in the right department at the right time
The systematic monitoring of the major external forces influencing the organization.
Environmental Scanning
The process of finding the difference between forecasted HR supply and HR demand.
Gap Analysis
Evaluation of the company’s current roster of personnel (Manpower Headcount)
Forecasting Internal and External Labor Supply
Is a simple method used in forecasting internal supply. The main requirement in using trend analysis is a record of past trends:
Internal Supply
Traces the potential replacements to key positions and hones them to become successful future leaders.
Succession Planning
They are a graphical representation of all jobs and the persons assigned to each job.
Staffing Tables
Forecasts internal movements from one year to the next year by determining the % of employees who remain in their jobs,promoted, transferred,dismissed or resigned.
Markov Analysis
It predicts demand for personnel bsed on past trends over a number of years between an operational index ( productivity/employee, revenue/employee)
Employee Demand
It predicts HR demand based on ratios between selected factors and the number of employees needed
Ratio Analysis
It is a statistical method of predicting HR demand by determining the relationship between various factors ( independent variables) and the company’s employment level ( dependent variables)
Regression Analysis
It is a statistical method of predicting HR demand by determining the relationship between various factors ( independent variables) and the company’s employment level ( dependent variables)
Delphi Method
The technique uses a “middle person” to gather the data of each members of the panel.
Delphi Method
Uses a panel of experts , mostly line managers, who discuss, meet face to face, and project HR demand
Nominal Group Technique
Applies multiple scenarios to predict HR demand, based on a number of assumptions.
Scenario Analysis
HRP is divided into 4 stages
environmental scanning, forecasting of human resource requirement, decision analysis, action plan/ program implementation
Methods of forecasting internal labor supply
trend analysis, skill/competency model, replacement chart, succession planning, staffing tables, Markov Analysis
Quantitative method of forecasting HR demand
trend analysis, ratio analysis, regression analysis
Qualitative technique
delphi method, nominal group and scenario analysis
3 Crucial decisions
labor equilibrium, shortage, surplus
