chapter 10

• Human resources management (HRM)–Formal systems for the management of people within an organization.
• Human capital-The knowledge, skills, and abilities of employees that have economic value
• Strategic Human Resources Management:

  • creates value
  • is rare
  • is difficult to imitate
  • is organised
• Planning process:  the process of analyzing your people needs and planning ahead to meet them
• there are three stages to the planning process:

  planning

  programming

  evaluating
• planning:

  1. organisational strategic planning
  2. human resource planning
  3. HRM environmental scanning
• Programming: Human Resources activities

  • recruitment and selection
  • training and development
  • performance appraisals
  • reward systems
  • labour relations
• Evaluating: results

  • productivity
  • quality
  • innovation
  • turnover
  • absenteeism
• HR planning = demand forecast and supply forecast
• demand forecast:

  Determining how many and what type of people are needed
• supply forecasts:

  (Internal & External)How many and what types of employees the organization actually will have.
• Job analysis

  process is used to determine placement of jobs: Job description and Job specification. 
• Recruitment: Internal and external.

  •The development of a pool of applicants for jobs in an organization
• selection: Choosing from among qualified applicants to hire
• selection:

  • Applications and Resumes
  • interviews
  • reference and background checks
  • personality test
  • drug test
• interviews:

  Unstructured interview Vs Structured interview
• structured:

  • asking all applicants the same questions and comparing their responses to a standardized set of answers
  • Situational vs Behavioral description interview 
•  unstructured:

  • without any set format questions
  • not predetermined 
  • ask questions which come to his/her mind on the spot.
• training and development:

  needs assessment

  trainning

  development
• types of training:

  • Orientation training
  • team training
  • diversity training
• orientation training:

  Training to introduce new employees to the company and familiarize them with policies, procedures, culture.
• Team training:

  Training to develop skills and perspectives to collaborate with others.
• diversity training:

  focus on identifying and reducing hidden biases. Developing the skills needed to manage a diversified workforce.
• Performance appraisal (PA) is the assessment of an employee’s job performance:

  Administrative and Developmental Purpose

  trait, results, behavioural
• Management by objectives (MBO)

  • A process in which objectives set by a subordinate and a supervisor must be reached within a given time period.
  • “Increase sales by 20% during the following year”
• 360- degree appraisals :

  Process of using multiple sources of appraisal to gain a comprehensive perspective of ones full performance.