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Study Guide

[MHR 523] - Final Exam Guide - Comprehensive Notes for the exam (33 pages long!)


Department
Human Resources
Course Code
MHR 523
Professor
Danielle Lamb
Study Guide
Final

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Ryerson
MHR 523
FINAL EXAM
STUDY GUIDE

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MHR 523 Week 3
HR Planning
The process of forecasting future human resources requirements to ensure that the organization will have
the required # of employees with the necessary skills to meet its strategic objectives.
HRP for the oldest company in the world: Kongo Gumi in Japan for building temples and coffins
Can we ID some HR lessons to be learned from each?
Kongo Gumi
o Long term thinking; apprenticeship was 10 year process
Target Canada
o Marketing didn’t resonate with target market
o Cultural differences between retail market in Canada and US
Strategic Importance of HRP
Helps organization
o Meet strategic goals and objectives
o Achieve economies in hiring new workers
o Make major market labour demands successfully
o Anticipate and avoid shortages and surpluses of HR
o Control or reduce labour costs
Steps in HRP Process
Forecasting the availability of candidates (HR Supply)
Forecasting future HR needs (on demand)
Programs to balance supply and demand
HR Demand: # of employees and skill sets needed in future
HR supply: internal availability of workers
Environment scanning: Assessing factors that affect the external labor markets as well as an
organization’s ability to find and secure talent from outside the organization
Economic conditions
Market and competitive trends
New/revised laws, decisions of courts
Social concerns eg. Healthcare, childcare, education
Technological changes affecting processes, products, people
Demographic trends
HR Supply: What are the main 2 sources? Internal or External? If you were a HR manager, what factors
would you consider to decide whether to recruit internally or externally? Pros/cons?
Hiring Internal
Pros
Cons
Knowledge of business from specific
human capital
Positive culture, increased moral
Employer knows employee
Save on recruitment/selection costs
Less training required
Hire new staff to fill post of person
promoted/transferred
Limit yourself to less skilled choice
Fresh ideas > diversity; promoting from
within only recycles people
Tension between coworkers when
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ID High Potential Employees
What are some of the pros/cons of letting an employee know he/she has been IDed as high
potential?
If they find out their valuable, the employee might start asking for more money
Ego boost
Animosity by other employees
Forecasting Supply of External Candidates
Market conditions assessed
o General economic conditions: Interest rates, wage rates, inflation, unemployment rates
o Labour market conditions: Demographics; education levels, age, gender, marital status
o Occupational market conditions: Relevant occupations as applicable eg. engineers,
skilled labour, accountants
Skills inventories
o An individualized record held on each employee except those currently in management or
professional positions
o Summarizes employee’s education, experience, interests, skills, work history, readiness
for promotion
Management inventory
o An individualized record for managerial, professional, or technical personnel that
includes all elements in the skills inventory with the addition of info on specialized
responsibilities and accountabilities
Replacement charts
o Visual representations of who will replace whom in the event of a job opening
Replacement summaries: lists of likely replacements for each position and their relative strengths
and weaknesses
Succession/replacement analysis
o Succession planning: critical to effective organizational functioning
o Helps the organization in being more effective in filling vacant positions
o Process of ensuring suitable supply of successors for current and future senior or key jobs
so that the careers of individuals can be effectively planned and managed
o Focus on developing people
Markov model
o Model that produces a series of matrices that detail the various patterns of movement to
and from the various jobs in the organization
o Method of forecasting internal labor supply that involves tracking the pattern of
employee movements through various jobs and developing a transitional probability
matrix
Ethical Dilemma: Is headhunting unethical?
Forecasting HR Demand
HR demand numbers must include not only the numbers of staff required to achieve objectives
but also replacements for all types of losses
o Retirements: regular/early
o Quits: voluntary/involuntary
o Long term leave eg. LTD, sabbatical, maternity, paternity
o Promotion out/transfers out
o Change in organizational structure
o Adding or closing parts of the operation
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