Class Notes (808,757)
Canada (493,380)
AFM 131 (188)
David H A (87)
Lecture 11

AFM 131 Lecture 11: Human Resources Management Notes

5 Pages
Unlock Document

University of Waterloo
Accounting & Financial Management
AFM 131
David H A

Human Resources Management: Finding and Keeping the Best Employees Working with People Is Just the Beginning: • Human Resource Management – the process of determining human resources needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals • Human Resource Management called “personnel” and involved clerical functions such as screening applications, keeping records, processing the payroll, and finding new employees when necessary • Roles and Responsibilities of Human Resource Management: 1. Organizations’ recognition of employees as their ultimate resource 2. Changes in laws that rewrote many traditional practices Developing the Ultimate Resource: • Major shift from traditional manufacturing industries to service and high-tech manufacturing industries that require highly technical job skills • This shift means that many workers must be retrained for new, more challenging jobs • They are ultimate resource as people develop ideas that eventually become the products that satisfy customer’s wants and needs • In the past, if you needed qualified people, you simply hired them. If they do not work out, you fired them and found others. This was done by functional departments that employed them, such as accounting and marketing. • Now, qualified employees are scarcer, which makes recruiting and retaining people more important and difficult Human Resource Challenges: • Changes with the most dramatic impact on business is changes in the labour force • Ability to compete in global markets depend on people with good ideas • Challenges and Opportunities in Human Resources: o Shortage of trained workers in growth areas such as computer technology, biotechnology, robotics, green technology, and the sciences o Large # of skilled and unskilled workers from declining industries, such as Determining Your Human Resource Needs: • Job Analysis – a study of what is done by employees who hold various job titles • Job Description – a summary of the objectives of a job, the type of work to be done, the responsibilities and duties, the working conditions, and the relationship of the job to other functions • Job Specifications – a written summary of the minimum qualifications required of workers to do a particular job Five Steps in the Human Resource Planning: 1. Preparing a human resource inventory of the organization’s employees 2. Preparing a job analysis 3. Assessing future human resource demand 4. Assessing future human resource supply 5. Establishing a strategic plan Recruiting Employees from a Diverse Population: • Recruitment – the set of activities used to obtain a sufficient number of the right people at the right time Selecting Employees Who Will Be Productive: • Selection – the process of gathering information and deciding who should be hired, under legal guidelines, to serve the best interests of the individual and the organization Five Step Selection Process: 1. Obtaining complete application forms 2. Conducting initial and follow-up interviews 3. Giving employment tests 4. Conducting background investigations 5. Establishing trail (probationary) periods Hiring Contingent Workers: • Contingent workers – workers who do not have regular, full-time employment Training and Developing Employees for Optimum Performance: • Training and 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 • Orientation – the activity that introduces new employees to the organization; to fellow employees; to their immediate supervisors; and to the policies, practices, values, and objectives to the firm • On-The-Job Training – training at the workplace that lets the employee learn by doing or by watching others for a while and the imitating them • Apprentice Programs – training programs during which a learner works alongside an experienced employee to master the skills and procedures of a craft • Off-the-Job Training – internal or external training programs away from the workplace that develop any of a variety of skills or foster personal development • Online Training – training programs in which employees complete classes via the internet • Vestibule Training – training done in schools where employees are taught on equipment similar to that used on the job • Job Simulation – the use of equipment that duplicates job conditions and tasks so that trainees can learn skills before attempting them on the job Management Develo
More Less

Related notes for AFM 131

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.