MGT 3230 Chapter Notes - Chapter 13: Human Resource Management, Strategic Management, Full-Time Equivalent
Document Summary
Chapter 13: human resource management and staff training issues. 5 critical areas to ensure achievement of financial objective: employees. Steps in the process of managing store employees: recruit and select employees, socialize and train new employees, motivate and manage employees to achieve store performance goals, evaluate employee performance and provide feedback, compensate and reward employees. Managing merchandise merchandising (visual standards), reduce inventory losses. Who work well with employees keep them happy and there is less chance they leave. Well trained employees are knowledgeable and know how to prepare a store visually. Exceptional service is intangible and may be difficult to simply copy by competitors. The strategic objective of human resource management is to align the capabilities and behaviors of employees with the: short-term goals of the retail firm long-term goals of the retail firm. Full time equivalent = net sales/full time equivalent hours.
