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8 Pages

Management (MGT)
Course Code
Chris Bovaird

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Chapter 8 Foundation of human resources management: Human resource management (HRM) is the set of organization activities directed at attracting developing and maintaining an effective workforce. The strategic importance of HRM The importance has grown dramatically in complexities, the recognition that human resources are a valuable means for improving productivity, and the awareness today of the cost associated with poor human resource management. Poor human resource planning can result in spurts of hiring followed by layoffs costly in terms of unemployment compensation payments, training expenses, and morale. Human Resource Planning Job Analysis: - is a systematic analysis of jobs within an organization. Job Description - lists of duties of a job, its working condition, and tools, materials, and equipment used to perform it. Job specification Lists the skill abilities and other credentials needed to do the job. Forecasting HR demand and Supply: The manager starts by assessing trends in past HR usage, future organization plans, and general economic trends. Forecast of sales the demand of employees etc. Forecasting the supply of labor involves: Forecasting internal supply the number and type of employees who will be in the firm at some future date. Forecasting external supply the number and type of people who will be available for hiring from the labor market at large. Also, large companies keep track of future distribution of professionals and managers. So they can keep track the competition of professions in the future. Replacement Charts At higher levels of the organization, managers make plans for specific people and position. Common use replacement chart which list each important managerial position who occupies it, how long will he or she stay before moving, and whos qualified to move into it. This will allow companies to evaluate or give developmental experience for people identified as potential successor to critical managerial jobs. www.notesolution.com
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