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Textbook Summary Chapter 8 Concise notes following the textbook, without any of the extra examples and data sets the book has.

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Department
Rotman Commerce
Course
RSM100Y1
Professor
John Oesch
Semester
Winter

Description
RSM 100Y1 Chapter 8 The Foundations of Human Resource Management Human Resource Management: Set of organizational activities directed at attracting, developing and maintaining an effective workforce. Strategic Importance of HRM: Human resources are critical for effective organizational functioning. Effectiveness of HR functions have substantial impact on the firms bottom-line performance. Human Resource Planning: 1. Job Analysis A detailed study of the specific duties in a particular job and the human qualities required for that job. a) Job Description: Lists the duties of a job, its working conditions, the tools, materials and equipment. b) Job Specification Lists the skills, abilities and other credentials needed to do the job. 2. Forecasting HR Demand and Supply Managers assess trends in past HR usage, future organizational plans and general economic trends. This helps to predict HR needs. a) Forecasting Internal Supply: The number and type of employees who will be in the firm at some future date. b) Forecasting External Supply The number and type of people who will be available for hiring from the labor market. c) Replacement Charts An HR technique that lists each important managerial position, who occupies it, how long s/he will stay in it before moving on, and who (by name) is now qualified or soon will be qualified to move into it. d) Skills Inventories (Employee Information Systems) Computerized systems that contain information on each employees education, skills, work experience and career aspirations. For external supply, companies must consult government reports and figures supplied by universities. 3. Matching HR Supply and Demand After comparing future demand and internal supply, managers can make plans to manage predicted shortfalls or overstaffing. If theres a shortfall, new employees can be hired, present employees can be kept and moved to understaffed areas, retirement can be prolonged, etc. If there is a need to hire, forecasts help managers to plan how to recruit. Temporary workers can also help staffing problems as they are flexible. If overstaffing is expected, the managers can tranfer employees, not replace individuals who quit, encourage early retirement or fire employees. Staffing the Organization Recruiting Human Resources Recruiting: The process of attracting qualified persons to apply for the jobs that are open. 1. Internal Recruiting Considering present employees as candidates for openings. Promotions. 2. External Recruiting Attracting people outside the organization to apply for jobs. This can be done through NEWSPAPER, INTERNET ADVERTISING, CAMPUS INTERVIEWS, EMPLOYMENT AGENCIES, EXECUTIVE SEARCH FIRMS, UNION HIRING HALS, REFERRALS BY PRESENT EMPLOYEES, HIRING WALK-INS, JOB FAIRS, and INTERNSHIPS. Selecting Human Resources Validation: The process of determining the predictive value of information. Employers will validate and select the most potentially successful applicants. 1. Application Forms This is used to gather background information about the applicant in order to understand the kind of person/employee s/he will be. 2. Tests All tests used on applicants must be job related and a valid predictor of performance. The results cannot be used to discriminate. a) Assessment Center A series of exercises in which candidates perform realistic management tasks under the watchful eye of expert appraisers. b) Video Assessment Potential hired are shown videos of realistic work situations and are then asked to choose a course of action to deal with the situation. 3. Interviews Sometimes a poor predictor of job success since biases affect subsequent evaluation. The interview validity can be improved by training interviewers to be aware of the biases and ask a set of ready-made questions. Interviewers can also ask curve-ball questions to see how well applicants think on the spot. Behavior-based Interviewing: An approach to improving interview validity by asking questions which focus the interview much more on behavior than on what a person says. 4. Other Techniques Physical Examinations Lie detectors (although now illegal in many places) Drug tests
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