MGT 4350 Study Guide - Midterm Guide: Dynamic Equilibrium, Business Process, Job Analysis
Document Summary
Staffing models and strategy: sample questions and answers. Human capital refers to the knowledge, skill, and ability of people and their motivation to use them successfully on the job. For the average organization, employee costs (wages or salaries and benefits) are under 10% of its total revenue. Staffing is the process of acquiring, deploying, and retaining a workforce of sufficient quantity and quality to create positive impacts on the organization"s effectiveness. Acquisition activities involve external staffing systems that govern the initial intake of applicants into the organization. Internal staffing systems work in fundamentally different ways than external staffing systems. Organizations should attempt to eliminate all employee turnover if at all possible. Employee turnover does not represent a significant cost to most organizations. Staffing is more of a process than an event. Staffing the organization requires attention to both the quantity and quality of people brought into, moved within, and retained by the organization.
