HRESMID

• Management development


  A process used to create effective managers
• Manager


  Anyone who works between the executive and entry-level personnel within an organization and helps those people perform labor to ensure the company reaches its goals
• Management development programs

  • Enable managers to enhance their existing skills, such as resolving conflicts and communicating with others
• 3 Components or Strategies used to provide Management Development

  • Management education
  • Management training
  • On the job experiences
• Management education


  Learning the theoretical foundations of management through formal programs, providing essential knowledge on topics like organizational behavior and decision making, serving as a base for effective leadership in practical situations
• Management training


  Training activity that focuses on improving an individual's skills as a leader and manager
• On the job experiences

  Managers learn and acquire various skills and knowledge by doing the job assigned, can be used along with other techniques of management development
• On the job experiences techniques

  • Coaching
  • Job rotation
• Describing a manager's job: Long hours, primarily focused within the organization, high activity levels, fragmented work, varied activities, primarily focused on oral communication, many contacts, much information gathering is conducted
• Mintzberg's managerial roles


  Interpersonal, informational and decisional
• Interpersonal roles


  • Figurehead
  • Leader
  • Liaison
• Informational roles


  • Monitor
  • Communication (Disseminator)
  • Spokesperson
• Decisional roles


  • Entrepreneur
  • Disturbance Handler
  • Resource Allocator
  • Negotiator
• Competency skills


  Skills or personal characteristics that contribute to effective performance, including human resource management, leadership, goal and action management, directing subordinates, focus on others, specialized knowledge
• 5 Functions of Management (POSDICON)

  • Planning
  • Organizing
  • Staffing
  • Motivating
  • Controlling
• Leader


  Someone who can influence others and who has managerial authority
• Leadership


  The process of leading a group and influencing that group to achieve its goals
• Types of Leadership Style

  • Autocratic
  • Democratic
  • Consultative
  • Persuasive
  • Laissez-faire
  • Paternalistic
• Transactional leaders


  Lead primarily by using social exchanges (or transactions), work on the organizational line to get things done in perfection and expect followers to do the same
• Transformational leaders

  Stimulate and inspire (transform) followers to achieve extraordinary outcomes, work along with followers by encouraging, increasing morale, and motivation
• Management


  • Allows managers to see the greater context and set long- and short term company targets and objectives, means teamwork, the manager should be able to work with subordinates, the leader manager must realize the importance of people working harmoniously with the aim of effectively reaching the target goals of the company, the process of getting things done effectively and efficiently, with and through people
• Skills and Competencies of a Manager

  • Technical skills (possessing expert job knowledge)
  • Human skills (working well with others)
  • Conceptual skills (analyze and diagnose)
• Core Disciplines of Management Development

  • Shared vision
  • Mental models
  • Personal mastery
  • Team learning
  • Systems thinking

  
• Steve Jobs: 'It doesn't make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.'
• Biggest motivators at work

  • Salary
  • Status
  • Achievement
  • Recognition
  • Advancement
  • Work Itself
  • Growth
  • Responsibility
  • Relationship with peers
  • Working conditions
  • Personal life
  • Relationship with employees
  • Organizational policy
  • Relationship with managers
  • Supervision
  • Job Security
• Benefits of Proper Compensation

  • Attracts talent
  • Motivates Employees
  • Rewards Performance
  • Reduces Turnover
  • Manages Compensation Budget
• Intrinsic rewards


  Come from the job itself, such as pride in one's work, feelings of accomplishment, being part of a work team
• Extrinsic rewards


  Come from a source outside the job, mainly by management, such as money, promotions, benefits
• Compensation

  A systematic approach to providing monetary value to employees in exchange for work performed, can achieve purposes like assisting in recruitment, job performance, and job satisfaction
• Compensation objectives

  • To recruit and retain qualified employees
  • To increase or maintain morale
  • To determine basic wage and/or salary
  • To reward for job performance
• Wages

  Hourly compensation paid to operating employees, the basis for wages is time, intended to pay the "Blue Collar Workers"
• Salary

  Income paid to an individual on the basis of time, often given to pay the "White Collar Employees"
• Determining what to pay

  • Job evaluation helps set pay structure, job analysis information determines the relative value, or rank, of each job, other pay structure factors include labor market conditions, collective bargaining, individual skill differences
• Types of Compensation

  • Base pay
  • Commissions
  • Overtime wages
  • Tip income
  • Bonus pay
  • Recognition pay
  • Benefits
  • Stock options
  • Other non-cash benefits
• Compensation received by an employee from work is considered as one of the most important motivator for an employee's retention from his work
• Receiving a high pay allows an individual to buy what they need and to acquire things that give them satisfaction, status, and convenience
• Compensation can be a source of dissatisfaction/frustration if it is not designed and administered accordingly on the theories and principles which should guide the actions of managers
• From the point of view of employees, it is not enough that they receive their pay but they have to see that the pay they receive is commensurate to the effort they put into their job and the qualifications they possess
• Important

  Motivator for an employee's retention from his work
• Employees always take pride in the amount of check that they receive every payday