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Midterm

MHR 523 Study Guide - Midterm Guide: Videotelephony, Balanced Scorecard, Organizational Communication


Department
Human Resources
Course Code
MHR 523
Professor
Nina Cole
Study Guide
Midterm

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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
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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
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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
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