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12 Cards in this Set
- Front
- Back
What is HRM? |
Process of managing human talent to achieve an organizations objectives |
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What is HRM Planning? |
Process of anticipating and providing for the movement of people into, within and out of an organization |
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Strategic Planning and HR Planning: |
Mission - basic purpose of the organization |
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Step 2: Environmental Analysis |
You're preparing to launch your first business, what do you look for? Business: -Opportunity Threats HR: industry trends -legislation |
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Step 3: Internal Analysis |
Business: HR: difficult to imitate rare organized Composition Culture, sole of the organization, what sets you part from other companies Forecasting a Firm's Demand for Employee's -predicting the number and types of people an organization needs select a meaningful figure, divide by employees and will get sales per employee |
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Internal Analysis: Forecasting a Firm's Demand for Employee's |
Predicting the number and types of people an organization needs Quantitative Approach:select a meaningful figure, divide by employees and will get sales per employee |
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Internal Analysis: Forecasting the Supply of Employees |
Staffing tables - graphic representation of an organization along with number of employes currently occupying those jobs and future employment requirements Replacement Charts - current job holders who are potential replacements when a job opening occurs |
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Step 4: Formulating A Strategy |
Corporate, focuses on markets in which they compete 1. Increased employee productivity Business - how companies will compete Functional- translate strategic priorities in areas of the organization Vertical Fit: connection between business objectives and major initiatives in HR, for example if it is focused on low cost HR must be focused on reliable behaviour and productivity Horizontal Fit: HR practices are aligned |
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Step 5: Strategy Implementation |
Organizations strive for a proper balance between demandconsiderations and supply considerations You have established trends in supply and demand, now what? Increase Workforce: -recruitment -selection Decrease Workforce: Layoff- strategy – reduced shifts, reduced workweek this reduces emotional andcosts of production Attrition – natural departure of employees through death, retirement, quitting Termination – employer separating an employee fromorganization permanently |
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Step 6: Assessment |
Benchmarking - comparing organizations practices and processes to other companies |
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Measuring Horizontal Fit |
3 Steps: 3. Managers evaluate each HR practice on a sale of -5 to 5 and by tallying it up they can get a clear idea of which HR practices are working |
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HR Practices |
Sales Productivity |