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Midterm Review

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Ryerson University
Human Resources
MHR 523
Nina Cole

MHR523 Midterm Exam Review CHAPTER ONE: THE STRATEGIC ROLE OF HUMAN RESOURCES MANAGEMENT Human Resources Management (HRM): - Refers to the management of people in organizations to drive successful organizational performance and achievement of organizations strategic goals - HR professionals are responsible for ensuring that the organization finds and hires the best individuals available, develops their talent, creates productive work environment Formulating and implementing HRM systems including: 1) Recruitment 2) Performance Appraisal 3) Compensation Managing Human Capital: - The knowledge, education, training, skills, and expertise of an organizations workforce - Perceived as a Competitive Advantage Three HR Practices: 1) Profit Sharing 2) Results-oriented performance evaluation 3) Employment security Effective HR practices are related to better organizational performance For example: outcome-based incentives for salespeople have positive impact on sales, customer satisfaction, and profit Human Resource Management Responsibilities (2 Categories): Operational (Administrative) Category (Traditional) - HR professionals hire and maintain employees and then manage employee separations - HR Services include: analyzing jobs, planning future workforce requirements, selecting employees, orienting and training employees, managing compensation and reward plans, communicating with employees - Outsourcing: the practice of contracting with outside vendors to handle specified functions on a permanent basis Strategic Category (Recent) - Strategy: the companys plan for how it will balance its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage - HR is focused on ensuring that the organization is staffed with the most effective human capital to achieve its strategic goals - Environmental Scanning: identifying and analyzing external opportunities and threats that may be crucial to an organizations success Measuring the Value of HR: Metrics The use of various metrics, or statistics to measure the results of HR, is common Balanced scorecard: a measurement system that translates organizations strategy into a comprehensive set of performance measures EXTERNAL Environmental Influences 1) Economic Conditions: a. Affect supply and demand for products and services, which have a dramatic impact on the number and types of employees required as well as on employers ability to pay wages and provide benefits b. Healthy economy, companies tend to hire more workers as demands for product and services increase c. During a downturn, some firms reduce pay and benefits by offering early retirement or by laying off and terminating employees (unemployment rates rise, and companies feel overwhelmed with all the applicants due to the vacancies advertised) d. Productivity: the ratio of an organizations outputs (goods and services) to its inputs (people, capital, energy and materials) i. To raise productivity level, managers must find ways to produce more outputs with the current input levels, or use fewer resources to produce current output levels e. Job Sectors: i. Primary Sector: includes agriculture, fishing and trapping, forestry and mining ii. Secondary Sector: Manufacturing and construction iii. Tertiary or Service Sector: Public Administration, personal and business services, finance, trade, public utilities, transportation/communications 2) Labour Market/Workforce Issues: a. Increasing Workforce Diversity b. Diversity: the attributes that humans are likely to use to distinguish themselves from others (Race, gender, age, values and cultural norms) c. Visible and ethnic minorities entering the Canadian workforce is expected to continue to grow at a faster pace contrary to the remaining population d. Common targeted minorities within the workforce: Women, Disabled, Aboriginals e. Generational Differences: i. Traditionalists (Before 1946): Grew up in an era of hardship (World War/Great Depression) - tend to be quiet loyal and self-sacrificing - Majority retired, however, others remain in the workforce (Wal-Mart: Seniors who greet) ii. Baby Boomers (1946-1964): Dominate the workforce in terms of number, grew up within the time of major optimism (Womens movement) - career focused workaholics who experienced a lot of competition in the work place iii. Sandwich Generation: individuals with responsibility for rearing young dependants as well as for assisting elderly relatives who are no longer capable of functioning totally independent - offered flexibility in labour hours, more lenient towards work ethic iv. Generation X (1965-1980): smaller group than the Boomers, grew up as divorce rates began to skyrocket - first technological-literate generation - independent, provides out-of-the-box thinking v. Generation Y (1980-present): Children of baby boomers, members are beginning to enter the workforce - techno-savy, comfortable with diversity, impatient and action-oriented - expect to change jobs frequently f. Contingent/NonStandard workers: workers who do not have regular full-time employment status 3) Technology: a. A wide-range of technology available to organizations to perform duties in a convenient manner (Twitter/Facebook, video conferencing etc. b. Technology allows working and managing a dispersed workforce easier and enable people to work anywhere and everywhere c. Disadvantage, business done via internet may conflict with family time d. Concerns towards data control, accuracy, right to privacy and ethics brought upon new technology e. Computerized control systems are used to monitor employee speed, accuracy, and efficiency in some firms f. Monitoring employee email, voice mail, telephone conversations, and video surveillance. 4) Government: a. Laws by governments impact the employer-employee relationship in Canada b. One factor that makes employment law in Canada challenging is that there are 14 different jurisdictions involved (10 provinces, 3 territories, 1 federal) c. Enforcing different types of human rights, employment standards, labour relations, health and safety, and workers compensation varies depending on province/territory d. Commonality amongst jurisdictions, however, considerable variations include: minimum wage, overtime pay requirements, vacation entitlement e. Employment Insurance and Pension Plan applies to all employers and employees across Canada 5) Globalization: a. Refers to the appearance of a single global market for most products and services b. Firms extend business operations abroad c. Emergence of one world economy d. Increased international competition e. Multinational corporations: conduct business around the world, seek cheap skilled labour f. HR professionals must become familiar with employment legislations in other countries and manage ethical dilemmas when labour standards are lower than those in Canada 6) Environmental Concerns: a. Sustainability, Climate change, Global warming, Pollution and Carbon Footprint, Extinction of Wildlife Species, Ecosystem Fragility b. All concerns ideally motivate the behavior of employees INTERNAL Environment Influences 1) Organizational Culture: a. Core values, beliefs and assumptions that are widely shared by members of an organization (Often conveyed through an organizations mission statement) 2) Organizational Climate: a. Prevailing atmosphere that exists and impacts employees b. Friendly or unfriendly, open or secretive, rigid or flexible, innovative or stagnant c. Influenced by leadership, HR policies, organizational communication 3) Empowerment a. Providing workers with the skills and authority to make decisions that would be made by managers History of Human Resource Management
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