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52 Cards in this Set
- Front
- Back
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human resource management (HRM) |
the process of determining human resource needs & then recruiting, selecting, developing, motivating, evaluating, compensating & scheduling employees to achieve organizational goals |
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HRM includes branches such as |
recruitment, selection, training & development, motivation, evaluation, compensation & beliefs, career management scheduling, employee management relations |
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employees are the ______ ______ |
ultimate resource |
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5 major steps taken by companies |
1. understand the external environment 2. understand the internal environment 3. select most critical human resource topics & set priorities 4. initiate projects with dedicated teams 5. secure support from top management |
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5 steps involved in the the human resource planning process |
1. preparing a human resource inventory of the organization's employees 2. preparing a job analyses 3. assessing future human resource demand 4. assessing future human resource supply 5. establishing a strategic plan |
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job analysis |
a study of what is done by employees who hold various job titles |
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job description |
a summary of the objectives of a job, the type of work to be done, the responsibilities & duties, the working conditions & the relationship of the job to other functions |
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job specifications |
a written summary of the minimum qualifications required of workers to do a particular job |
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recruitment |
the set of activities used to obtain a sufficient number of the right people at the right time |
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selection |
the process of gathering information & deciding who should be hired under legal guidelines to serve the best interests of the individual & the organization |
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a typical selection process involves 5 steps |
1. obtaining complete application 2. conducting initial & follow-up interviews 3. giving employment tests 4. conducting employment background investigations 5. establishing trial periods |
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contingent workers |
workers who do not have regular, full-time employment |
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training & development |
all attempts to improve productivity by increasing an employee's ability to perform. Training focuses on short-term skills, whereas development focuses on long-term abilities |
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training & development programs include 3 steps |
1. assessing the needs of the organization & the skills of the employees to determine training needs 2. designing training activities to meet the identified needs 3. evaluating the effectiveness of the training |
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employee orientation |
the activity that introduces new employees to the organization; to fellow employees; to their immediate supervisors & to the policies, practices, values & objectives of the firm |
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on-the-job training |
training in which the employee immediately begins his or her tasks & learns by doing or watches others for a while & then imitates them all right at the workplace |
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apprentice programs |
training programs involving a period during which a learner works alongside an experienced employee to master the skills & procedures of a craft |
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off-the-job training |
training that occurs away from the workplace & consists of internal or external programs to develop any of variety of skills or to foster personal development |
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online training |
training programs in which employees "attend" classes via the internet |
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vestibule training |
training done in schools where employees are taught on equipment similar to that used on the job |
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job stimulation |
the use of equipment that duplicates job conditions & tastes so that trainees can learn skills before attempting on the job |
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management development |
the process of training & educating employees to become good managers & then monitoring the progress of their managerial skills over time |
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training programs include |
on-the-job coaching, understudy positions, job rotation, off-the-job courses & training |
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enabling |
giving workers the education & tools they need to make decisions |
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networking |
the process of establishing & maintaining contacts is key managers in one's own organization & other organizations & using those contacts to weave strong relationships that serve as informal development systems |
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mentor |
an experienced employee who supervises, coaches, & guards lower-level employees by introducing them to the right people & generally being their organizational |
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performance appraisal |
an evaluation in which the performance level of employees is measured against established standards to make decisions about promotions, compensation, additional training or firing |
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6 steps at how to look at the performance-appraisal process |
1. establishing performance standards 2. communicating standards 3. evaluating performance 4. discussing results 5. taking corrective action 6. using the results to make decisions |
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pay equity |
equal pay for work of equal value |
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gender wage gap |
the difference between wages earned by men & wages earned by women |
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salary |
fixed compensation computed on weekly, bi-weekly, or monthly pay periods |
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hourly wage or daywork |
wage based on the number of hour or days worked |
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piecework system |
wage based on the number of items produced rather than by the hour |
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commission plans |
pay based on some percentage of sales |
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bonus plans |
extra pay for accomplishing or surpassing certain objectives |
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2 types of bonus plans |
monetary & cashless |
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profit-sharing plans |
annual bonuses paid to employees based on the company's profits pay based on pre-determined percentage |
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gain-sharing plans |
annual bonuses paid to employees based on achieving specific goals such as quality measures, customer satisfaction & production targets |
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cost-of-living allowances (COLA's) |
annual increases in wages based on increases in the consumer price index, usually in union contracts |
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stock options |
right to purchase stock in the company @ specific price over a specific period of time |
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fringe benefits |
benefits such as sick-leave pay, vacation pay, pension plans & health plans that represent additional compensation to employees beyond base ways |
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cafeteria-style benefits plans |
benefits plans that allow employees to choose which benefits they want up to a certain dollar amount |
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flextime plan |
work schedule that gives employees some freedom to choose when to work, as long as they work the required number of hours |
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core time |
the period when all employees are expected to be at their job stations |
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compressed work week |
work schedule that allow an employee to work a full number of hours per week but in fewer days |
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job sharing |
an arrangement where by two part-time employees share one full-time job |
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turnover rate |
a measure of the percentage of employees that leave a firm each year |
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employment equity |
employment activities designed to "right past wrongs" by increasing opportunities for minorities & women |
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reverse discrimmination |
the unfairness that unprotected groups may perceive when protected groups receive preference in hiring & promotion |
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toughest HRM issues |
•Changingdemographics•Undereducated/unpreparedfor jobs •Single-parentand two-income families •Shift inemployee attitudes toward work•Economy •Overseaslabour pools •Changein demand for benefits •Healthcare, elder care, child care, andopportunities forpeople with disabilities•Employeeloyalty |
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demographic changes could include |
mass retirements, succession planning, knowledge retention |
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training & development activities |
employee orientation, on-the-job training, apprentice programs, off-the-job training, online training, vestibule training, job stimulation |
