MGMT 1000 Chapter 8 & 10: Business- Chapter 8 and 10 Textbook Notes

• School: University of Guelph
• Department: Management
• Course: MGMT 1000
• Professor: Kathleen Rodenburg

Document Summary

Human resource management= set of organizational activities directed at attracting, developing, and maintaining an effective workforce. Human capital is a tangible indicator of the value of the ppl who work in an organization. Job description: lists duties of the job; working conditions and tools, materials, and equipment used to perform it. Job specification: lists the skills, abilities, and other credentials needed to do the job. After understand jobs to be done, can start planning future hr needs. Assess trends in past hr usage, future organizational plans, and general economic trends. Historical ratios can be used to predict demand for types of employees. Big companies use much more complicated models to predict hr needs. 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 ppl who will be available for hiring from the labour market at large.