Talent Planning and Acquisition (16%) Flashcards
Human Capital ROI
A measure that combines comp and ben cost, subtracting that sum from operating expenses, then subtracting the org’s revenue number, and dividing that composite by comp and ben costs
HR Expense Factor
A measure of the total HR Expense/ the total operating expense in the org’s cash flow statement
HR to EE Ratio
Gauges how an HR dept’s staff # compares to the # of workers in the org. HR FTE/FTE x 100.
Cost Per Hire
Helps orgs know how much is needed to bring in a new hire. Includes expenses: recruiting, advertising, agency fees, EE referral program, relocation, interview, travel, pay and ben. (tallied and divided by # of new hires)
Total Comp Expense per EE
compensation cost plus benefits cost divided by the total number of full-time employees.
Absentee Rate
the total days workers were absent in a month, divided by the average number of employees who were on-the-job in that month, multiplied by 100.
ROI vs Return on Equity
Comparison of profit vs loss. Amount of money and org makes compared to the average investment of each of the company’s shareholders.
Economic Environment Metrics
Metrics that characterize the overall economy, such as the av income of potential customers
HR Value Added
Revenue / # of employees
HRM in Growth Strategy (entrepreneurial stage)
Help the company achieve greater productivity and profitability. Recruiting top talent and using EE resources to do so (referrals, relo, etc.)
HRM in Concentration Strategy
A company abandons unprofitable products and services to focus on profitable ones. Support business units retained by the company; (as well as EEs)
HRM in Mergers & Acquisitions Strategy
Practices can be deployed before deal is broached (process map identifying org dept. and interconnectivity), during due diligence, integration planning and implementation.
HRM Questions for Mergers and Acquisitions
EE Resourcing: Who will occupy which job in C Suite/Board?
L&D: Similar work cultures?
Performance & Reward, Provision of Services: how to best retain talent, performance and rewards system align
HRM in Downsizing
Elim of jobs in effort to improve org’s productivity and profitability with layoffs (temp) or dismissals (perm)
- Comm details to EEs and handle benefits concerns
- Review EEO legal issues/wrongful discharge
- Help maintain morale
Core Competency
Specific function that a firm regards as central to its success and is something difficult for competitors to imitate.
Competitive Advantage
An org attribute that differentiates it from rivals and increases market share.
Strategic Planning
Outlining of the purpose, goals, and performance expectations for an org.
Tools for Forecasting Workforce Needs
Unit demand Trend Projection Probabilistic Model Workload analysis Ratio Analysis Delphi Technique Nominal Group Technique Job bidding Succession planning Dual career ladder Replacement charting TO Forecasting
Replacement Charting Tool
Tool to help succession planning. Categorizes EE in 4 ways:
- “Ready for promo”
- “Developed for future promo”
- “Satisfactory in current position”
- “Replace”- Retirement, transfer, promo, leave, poor perf.
Dual Career Ladder Tool
Tool of Promotion of promising EEs who have no interest in taking on managerial or supervisory positions. Promo to more advanced technical positions.
Job Bidding Tool
Tool for EE may express interest in position in org before position is actually avail to be filled. Filling vacancies with internal candidates.
Nominal Group Technique Tool
Tool Panel of experts, participants actually meet - attending a structured meeting to come to an agreement about a solution to a problem.
Delphi technique Tool
Tool to forecast future job needs by combining the input and expertise of many professions who never met but who come to a consensus over time. Collecting judgements and predictions
Ratio Analysis Tool
Tool Determining whether an org has enough EEs to meet requirements of company. Predict when new hires may be needed. Looking at history of workforce/sales or production.
Work-load Analysis Tool
Tool Looking at the output or productivity the org expects to achieve in the immediate future. Employment needs are calculated in reverse.
Probabilistic model Tool
Tool Predictions about the future conditions using computer stimulations.
Trend projections
Tool Trend projections involve predicting future employment needs based on expectations of how some employment-related factor may change over time.
Unit Demand Tool
Tool One way to forecast long-term workforce needs is to ask unit managers to report on both the volume of business activity they anticipate in the coming years as well as how many people are needed to carry out that activity.
Job Analysis
Process of analyzing duties, responsibilities and tasks of a job
Job Description
A statement of the tasks performed on a job and the purpose of the job
Job Specification
A listing of the skills, knowledge, and abilities needed for a job
Position Analysis Questionnaire (PAQ)
involves evaluating jobs along six major dimensions; information input, mental processes, work output, relationships with other persons, job context, and other job characteristics. PAQ can also help with comparisons of different jobs to determine their similarities.
3 Techniques to job anlaysis
Interviewing, Questionnaire, Observation
Job Description
A statement of the tasks performed on a job and the purpose of the job
KSA
Knowledge, skills, ability
Testing for Reliability (4)
Alternate-forms: using diff measuring instruments
Inter-rater: Having ppl make judgements of content (having the same/agreeing content)
Test-retest: How llikely it is that a test taker would have the same performance at another point in time
Split-Halves: A single test split into two parts using the same measurement
Content Validity
Job exam tests skills relevant to the job candidate is applying; “face validity”
Criterion Validity
Focuses on whether a particular test measurements correspond to other specific measurements or particular traits
Types of Criterion Validity (2)
Predictive: Results of that test correspond with the results from some similar criterion sampled at a later point
Concurrent: Outcomes of the test are consistent with the outcome of other measurements conducted at the same time.
Construct Validity
Test must measure what it claims to measure. Ex: employment exam measures performance and predicts job success
Equal Pay Act of 1963
Requires that men and women in the same workplace be given equal pay for equal work
Uniform Guidelines on Employee Selection Procedures
A set of fed rules that state that all procedures used as a basis for staffing decisions must be valid and relevant to job perf.
McDonnell-Douglas tests
Used as the basis for establishing prima facie case of disparate treatment discrimination
Four-Fifths Rule
Suggests that disparate impact exists if a selection criteria results in a selection rate for a protected class that is less than 4/5ths of that for the majority group
cohort analysis
evaluates whether a person or group has been treated similarly or differently than other people or groups in a similar situation. If several people are laid off, and there are claims that the layoff is discriminatory, that claim may be supported if other people with similar positions and roles — people in the same cohort — are not included in the layoff. On the other hand, if people in similar roles and positions who are not members of the group that is claiming they were discriminated against, that would suggest no such discrimination occurred.
availability analysis
looks at the number of individuals who are members of protected classes — minorities, women, and people with disabilities — who are qualified for employment. Someone is qualified for employment if they have the relevant skills and qualifications, are within the immediate labor area, and are in the geographic area from which employees could reasonably be recruited or willing to commute to the business.
impact ratio analysis
determines whether an organization’s employment of individuals who are members of protected classes (minorities, women, and people with disabilities) is reflective of how represented those individuals are in the larger labor force. If the percentage of an organization’s employees who are members of these groups is very low or very high, then that would indicate the organization may be discriminating against such employees.
Job Design
The arrangement of work to increase both employee motivation and productivity.
5 Dimensions of Worker Motivation
- Skill Variety 2. Task identity 3. Task significance 4. Autonomy 5. Feedback
5 Diff Approaches to Job Design
- Mechanistic 2. Motivational 3. Biological 4. Perpetual -motor 5. Relational
Mechanistic Approach
Works best with jobs that are highly specialized and involve routine tasks.
Biological Approach
Rooted in ergonomics, the study of how workers best perform and use equipment.
Motivational Approach
Takes into account the various personal rewards achieved through performing job tasks.
Relational Approach
Emphasizes timely, accurate communication and a spirit of collaboration and teamwork.
Perpetual-Motor Approach
Based on an understanding of neurology and the mental demands of a particular job.
Title VII of the Civil Rights Act of 1964
Stipulates that it is illegal for private employers, state and local governments and educational institutions with 15 or more employees to discriminate against race, color, religion, sex or national origin in job descriptions.
Age Discrimination in Employment Act
Makes it illegal to discriminate against anyone 40 or older from holding a job in a private enterprise with 20 or more workers or a government agency or union with more than 25 members.
Fair Labor Standards Act
Mandates that an employer stipulate whether duties and tasks will require mandatory overtime work, as well as whether the job will pay the legal minimum wage.
COBRA
Requires employers to extend a health care coverage purchase option after an employee is terminated or resigns.
Fair Claims Act
If a work environment is legally unsafe, whistleblower protection may be afforded to workers asked to perform those duties and tasks through this act.
Family and Medical Leave Act
Men and women are entitled to a defined maternity leave benefit in accordance with this act.
