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RSM100Y1 (287)

chapter 8

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Rotman Commerce
Stojanovic Dragan

CHAPTER 8 MANAGING HUMAN RESOURCESTHE FOUNDATIONS OF HUMAN RESOURCE MANAGEMENTset of organizational activities directed at attracting y Human Resource Management HRMdeveloping and maintaining an effective workforce y Takes place within a complex and everchanging environmental context and is increasingly being recognized for its strategic importance The Strategic Importance of HRM y Human resources are critical for effective organizational functioning y Is considered extremely important now due to increased legal complexities the recognition that human resources are a valuable means for improving productivity and the awareness of the costs associated with poor HRM y Managers realize that effective HR function has substantial impact on a firms bottomlime performance y Poor HRplanning can result in spurts of hiring followed by layoffscostly in terms of unemployment compensation payment training expenses and morale y Poor compensation systems do not attract keep and motivate good employees and outmoded recruitment practices can expose the firm to expensive and embarrassing legal action Human Resource Planning y The starting point in attracting qualified human resources is HR planning which involves job analysis and forecasting the demand for and supply of labour1 Job Analysis y Means analyzing the nature of jobs and requires assessment of job description and job specificationlists the duties of a job its working conditions and the tools materials and y Job Descriptionequipment used to perform it y Job Specification lists the skills abilities and other credentials needed to do the job2 Forecasting HR Demand and Supply y Is basically managers planning for the organizations future HR needs y Managers start by assessing trends in past HR usage future organizational plans and general economic trends y Forecasting the supply of labour involves two tasksForecasting internal supplythe number and type of employees who will be in the firm at some future dateForecasting external supplythe number and type of people who will be available for hiring from the labour market at large y Simplest approach merely adjusts present staffing levels for anticipated turnover and promotions a Replacement Chartsy Is an HR technique that lists each managerial position who occupies it how long he or she will probably stay in it before moving on and who by name is now qualified or soon will be qualified to move into it y This technique allows ample time to plan development experiences for people identified as potential successors to critical managerial jobs b Skills Inventories or Employee Information Systemsy Are computerized systems that contain information on each employees education skills work experience and career aspirations y This system can quickly locate every employee who is qualified to fill a certain position y Forecasting external supply of labour is a different problem altogetherhow does manager know how many electrical engineers will be looking for a job in Oshawa in 3 years from now y To get an idea of future availability of labour planners must rely on information from outside sources such as government reports and figures supplied by colleges and universities3 Matching HR Supply and Demand y After comparing future demand and internal supply managers can make plans to manage predicted shortfalls or overstaffing y If shortfall is predicted new employees can be hired present employees can be retrained and transferred into understaffed areas individuals approaching retirement age can be convinced to stay on or laboursaving or productivityenhancing systems can be installed y If organization needs to hire the external laboursupply forecast helps managers plan how to recruit according to whether the type of person needed is readily available or scarce in the labour market y Use of temporary workers helps managers in staffing by giving them extra flexibility y If overstaffing is expected to be a problem main options are transferring the extra employees not replacing individuals who quit encouraging early retirements and laying people off STAFFING THE ORGANIZATION y A study showed that the top three characteristics employers are looking for when hiring are a good work ethic reliability and willingness to stay on the job Recruiting Human Resourcesthe process of attracting qualified persons to apply for the jobs that are open y Recruitingy Some recruits are found internally while others come from outside the organization
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