Session 2 - Intro to HR Flashcards
What is HRM?
HRM is the design and implementation of formal systems that utilize human resources to accomplish organizational goals
What are some of the HRM systems, practices and policies?
Promoting employee health and safety through organizational culture, Defining/analyzing and designing the work, Planning for recruiting and selecting employees, Orienting/training/developing employees, etc..
Why study HRM?
Studying HRM will help you understand your work, responsibilities, and rights in an organization and how your contributions make the organization successful
Why is the role of the manager so important?
Managers are responsible for implementing various HRM systems, practices, and policies and must therefore work with, and rely upon, HR professionals to ensure that they have the right knowledge, tools, and resources to do so effectively
What is the HR professional’s primary role in today’s work environment?
To help equip the manager with the best people practices so that the organization can be successful
How are HR professionals expected to fulfill their role?
By actively involving others in the organization, particularly managers, in the development and design of HRM systems, practices and policies
How is HRM percieved?
- Primarily and administrative function (record keeping, payroll)
- HR is a cost center (adds to organization expenses but doesn’t generate revenue)
- Little strategic importance (not a source of competitive advantage)
What are the 6 current business topics impacting HRM?
1) Global economy
2) Changes in firms and business sectors
3) Technology and quality
4) Sustainability
5) Developing human capital and talent management
6) Demographics
How does the Global Economy effect HRM?
- When an organization decides to operate in a different country, HRM practices need to address the different legal, political, and cultural requirements within this new location
- Also need to identify capable expatriate managers who can live and work overseas
How might changes in Firm’s and Business Sectors effect HRM?
- As companies change, so do the requirements for the capabilities of employees
- Companies attempts to lower labor cost through downsizing, outsourcing and the use of contract employees directly impact HRM
What is Downsizing?
Downsizing is a strategic approach to decreasing the number of employees in a company (mostly occurs when the economy is poor)
What are lessons companies have learned following their downsizing procedures?
How and why a company downsizes can create a negative image of the company, other lessons include communicating what is going to happen as soon as possible, being honest
What is “survivor syndrome”?
Is the thought of paying as much attention to those people who will still be employed as to those who will be departing
What is Outsourcing?
Outsourcing means hiring a person who does not work for the company (or hiring another company) to perform work that would normally have been performed by someone employed by the organization
What is an “Independent Contractor”
Generally speaking, independent contractors are hired to do a specific job for a specific period of time and have more flexibility in relation to hours of work, work location, and how the work is done
How is Technology impacting HRM and business’s?
Less processing forms(everything is online), unlimited amounts of data can be stored, processes have been improved, costs reduced
What is “Telecommuting”?
Is when people can work from the office or from their desk at home when they desire
How has Quality impacted HRM?
HRM is now required to hire staff that can work in teams, the necessity of having compensation systems that support quality objectives, and the need to have performance management systems that recognize the importance of customer satisfaction
What are some programs that look to enhance Quality?
TQM, Six Sigma, Lean
What was TQM based on?
A management philophosy that focused on understanding customer needs, involving employees, using fact-based decision making, communicating
What is Six Sigma?
Six Sigma is a statistical method of translating a customers needs into separate tasks and defining the best way to perform each task in concert with the others
What is Lean?
Lean is similar to Six Sigma but more is a more inclusive organizational system of improvements that maximize customer value and minimize waste
What is “benchmarking”?
Benchmarking looks at the best practices in other companies, whether competitors or not
What is “human capital”?
human capital is used to describe the value that employees provide to an organization through their knowledge, skills, and abilities
What is “talent management”?
talent management is concerned with leveraging the competencies in the organization by first ensuring that the competencies are in the right places in the organization and then measuring their impact against goals
What are some of the key demographic considerations?
employee background, multiple generations in the workforce, skills and labor shortage, gender distribution, and increasing levels of education
What does the term “gig economy” refer to?
Gig economy is when employees have 2 or more part-time jobs
What questions does Corporate Strategy deal with?
questions such as: Should we be in business? What business should we be in”?
What are the 2 main types of Corporate Strategy?
1) Restructuring strategy
2) Growth
What does Business Strategy focus on?
Business Strategy focuses on “how should we compete?”
What does a human resources management strategy involve?
It involves the development and implementation of HRM systems, practices, and policies that enable the human capital to achieve the business objectives
What are some key employee expectations?
- Rights, ethics, and privacy
- Fulfilling and meaningful work
- Balancing work and family
What 3 constituent does HRM affect?
1) the organization (managers)
2) the employees (workers)
3) society
In what ways does HRM help the employer?
Job analysis and design, recruitment and selection, training and development, compensation, performance appraisal
In what ways does HRM help the employee?
Realizing performance ability, Career goals, Developmental opportunities, Fulfilling career
In what ways does HRM help society?
Respect human rights, Legal compliance, Welfare, Financial security
What are the 3 P’s of HR?
People, Profit, Planning
What is strategic HRM?
Align HR philosophy, policies and practices with organizational strategies
