HRM 3

• The Strategic Management Process. Planning is always "goal-directed"; that’s why courses of action must be directing in getting a certain goal.
• Strategic Management The process of identifying and executing the organization’s strategic plan by matching the company’s capabilities with the demands of its environment.
• • Corporate level strategy Type of strategy that identifies the portfolio of businesses that, in total, comprise the company and the ways in which these businesses relate to each other.
• • Competitive strategy A strategy that identifies how to build and strengthen the business’s long-term competitive position in the marketplace.
• • Functional Strategy A strategy that identifies the broad activities that each department will pursue in order to help the business accomplish its competitive goals.

   
• Strategy Map - A strategic planning tool that shows the “big picture” of how each department’s performance contributes to achieving the company’s overall strategic goals.
• HR scorecard related chain of activities required for achieving the company’s strategic aims and for monitoring results.
• Digital dashboard - presents the manager with desktop graphs and charts, showing a computerized picture of how the company is doing on all the metrics from the HR scorecard process.
• Talent Management The goal-oriented and integrated process of planning, recruiting,

  developing, managing, and compensating employees.
• • Job Analysis The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it.
• • Job Descriptions A list of a job’s duties, responsibilities, reporting relationships, working conditions, and supervisory responsibilities – one product of a job analysis.
• • Job Specifications A list of a job’s “human requirements,” that is, the requisite education, skills, personality, and so on - another product of a job analysis.
• Recruitment and Selection – which helps managers decide the kind of people to recruit and hire.
• Performance Appraisal – which helps managers identify and learn the duties and performance standards of one employee versus the other.
• Compensation – which helps managers assess the appropriate salary and bonus of each employee per department.
• Training – which helps managers pinpoint the necessary training needed by employees.
• Job Identification – this section includes the job title, job location, immediate supervisor’s title and information regarding salary / pay scale.
• Job Summary – describes the essence of the job together with its major functions or activities; plus, the expectations of management to the applicant and future employee.
• Responsibilities and Duties – defined as the heart of the job description. This contains the job’s significant responsibilities and duties; it may also include jobholder’s authority limits.
• Job Specifications – shows what type of person should you hire and for what qualities you should test that person – basically the traits and experiences needed to do the job effectively.
• Specifications for Trained versus Untrained Personnel – For trained employees, the process is relatively straightforward, because you’re looking primarily for traits like experience. For untrained personnel, it’s necessary to identify traits that might predict success on the job.
• Specifications Based on Judgment – Most job specifications come from the educated guesses of people like supervisors and are based mostly on judgment.
• Job Specifications Based on Statistical Analysis – More difficult than judgment as it determine the statistical relationship between two factors:

  (1) predictor and (2) criterion.
• • Job-Requirement Matrix A more complete description of what the worker does and how and why he or she does it; it clarifies each task’s purpose and each duty’s required knowledge, skills, abilities, and other characteristics.