AFM131 Lecture Notes - Lecture 11: Succession Planning, Job Rotation, Performance Appraisal

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Changing demographics: mass retirements, succession planning, knowledge retention. Health care, elder care, child care, and opportunities for the disabilities. Purpose: determine the number and types of employees needed by the firm: prepare human resource inventory. Human resource inventory (h s nh n s ) list of all employees and detailed information about each, such as name, age, skills. Recruitment activities used to obtain a sufficient number of the right people at the right time. Internal sources transfers, promotions, employee recommendations, retrained employees, and department reorganizations. External sources employment agencies, new graduates, job fairs, co-op schools. Recruiting has become very difficult for some reasons. Some organizations have policies that demand positions from within, operate under union regulations, or offer low wages. People need to be hired who fit in with the culture and leadership style of the organization. Sometimes people with the necessary skills are not available. Selection process of gathering and reviewing information and deciding who to hire.