startegy Flashcards
compensation
how employees are paid/rewarded
performance appraisal
assessing contributions and providing feedback
training
interventions to improve knowledge skills and abilities
personnel selection
deciding whom to hire
job design
deciding which employee/job does which task
career development
planning experiences to build employees career qualifications
termination/retention
deciding whom to fire/keep and how
Steps to strategy and human resource planning
Mission, vision, and values
external analysis
internal analysis
formulating strategy
strategy implementation
Evaluation and assessment
What does human resource managment do?
- Planning
- Job design
- Recruitment
- Staffing
- Training and
development - Appraisal
- Communications
- Compensation
- Benefits
- Labour relations
- International HR
What did HRM do during COVID?
include creating business continuity plans , administrating flexible work arrangements , handling employee communication , supporting
employees with issues pertaining to workplace policies , execution
of preventive measures , and revisiting preexisting welfare policies
Mission
Basic purpose of organization as well as its scope of operations
Strategic Vision
Statement about where company is going and what it can become in the future (Clarifies long-term direction of company and its strategic intent)
Core Values
Strong and enduring beliefs and principles that company uses as a foundation for its decisions
globalization
The trend to opening up foreign markets to
international trade and investment
reactive changes
Changes that occur after external forces
have already affected performance
proactive change
Change initiated to take advantage of targeted opportunities
Strategic Planning
Procedures for making decisions about the organization’s long-term goals and strategies (Long-term survival, create value and grow)
Human Resource Planning (HRP)
Process of anticipating and providing for the movement of people into, within, and out of an organization
Strategic Human Resource Planning (SHRP)
Pattern of human resources deployed and activities that enable an organization to achieve its strategic goals
High Performance Work Systems (HPWS)
Group of human resource practices that have been proven to increase an organization’s ability to attract, select, hire, develop, and retain high performing employees
Employee involved, culture of commitment not control
Employees are highly qualified, competent and engaged in improving the organization
furloughing
A situation in which an organization asks or requires employees to take time off for either no pay or reduced pay, alt to downsizing
how do firms increase productivity?
organizations can increase their productivity either by reducing their inputs (the cost approach)
or
by increasing the amount that employees produce by adding more human and/or
physical capital to the process (the investment approach).
External analysis is what step? what do they analyze?
step 2
check business environment(tech, demography, legal, economy, social attitudes)
competition enviroment (customers, rivals, suppliers, stakeholders)
and external labour supply (local or remote)
Subsytems of HPWS (high performace work systems)
- engage employees in decision making
2.developing talent through referall incentives and employee branding - employee empowerment, creating policies to create a voice for employees
- aligning leaders that can support growth through traing and assesment
pros of HPWS
info exchange, motivates creativity, increases commitment, reduces job strain, feel supported by managers
strategic formulation
step 4
formulation process in terms of what is possible; that is, whether a firm has the types and numbers of people available to pursue a given strategy.