Importance of HRM (3 reasons)
- Can be a significant source of competitive advantage as various studies have concluded., 2. Important part of org strategies, 3. Impacts organizational performance
High-performance Work Practices
Work practices that lead to both high individual and high organizational performance
External Factors That Affect the HRM Process
The Econ’s Effect on HRM, Employee Labor Unions, Legal Environment of HRM, Demographic Trends
Labor Union
Organization that represents workers and seeks to protect their interests through collective bargaining
Affirmative Action
Organizational programs that enhance the status of members of protected groups
Work Councils
Nominated or elected employees who must be consulted when mgmt makes decisions involving personnel
Board Representatives
Employees who sit on a company’s BoD and represent the interests of the firm’s employees
Human Resource Planning
Process by which managers ensure that they have the right number and kinds of capable people in the right places and at the right times
2 Steps of HR Planning
- Assessing Current HR, 2. Meeting future HR needs
Job Analysis (Current Assessment of HR)
Assessment that defines a job and the behaviors necessary to perform it
Using info from the Job Analysis, managers develop/revise ____ and ____
Job Description, Job Specification
Job Description
Written statement describing a job (content, environment, and conditions of employment)
Job Specification
States the minimum qualifications that a person must possess to successfully perform a given job (knowledge, skills, and attitudes needed)
Future HR Needs are determined by the org’s ____, ___, ___
mission, goals, strategies
Recruitment See: Page 320 Exhibit 12-4 Recruiting Sources
Locating, identifying, and attracting capable applicants
Decruitment See: Page 320 Exhibit 12-5 Decruitment Options
Reducing an organization’s workforce
Selection See: Page 321 Exhibit 12-6
Screening job applicants to determine who is best qualified for the job
Valid Selection Device
Characterized by a proven relationship between the selection device and some relevant criterion
Reliable Selection Device
Measures the same thing consistently
Selection Tools - See: Page 322 Exhibit 12-7
N/A
Realistic Job Previews (RJP)
Includes both positive and negative info about the job and the company
Providing Employees with Needed Skills and Knowledge
Orientation, Employee Training
Types of Orientation
Work unit orientation (familiarize with the goals of the work unit, how the job contributes to the work unit’s goals, and an intro to coworkers) and Organization Orientation (company’s goals, history, Philosophy, Procedures and Rules, relevent HR Policies)
Types of Employee Training See: Page 325, Exhibit 12-8
General and Specific
Training Methods (Under Employee Training) See: Page 326 Exhibit 12-9
N/A
Retaining Competent, High-Performing Employees
Employee Performance Mgmt, Compensation and Benefits
Performance Mgmt System
Establishes performance standards that are used to evaluate employee performance
Skill-based Pay
Pay system that rewards employees for the job skills they can demonstrate
Variable Pay
Pay system in which an individual’s compensation is contingent on performance
Downsizing
(Layoff) Planned elimination of jobs in an org
Sexual Harassment
Any unwanted action/activity of a sexual nature that explicitly or implicitly affects an individual’s employment, performance, or work environment
Family-Friendly Benefits
Benefits that accommodate employees’ needs for work-life balance
HR Costs
Employee Health Care Costs, Employee Pension Plan Costs