Chapter 9 Notes

Chapter 9 Managing Human Resources Notes The Foundations of Human Resource Management N human resource management (HRM) : set of organizational activities directed at attracting, developing, and maintaining an effective workforce; HRM takes place within a complex and ever-changing environmental context and is increasingly being recognized for its strategic importance The Strategic Importance of HRM N HRM has new importance, which stems from increased legal complexities, the recognition that human resources are a valuable means for improving productivity, and the awareness today of the costs associated with poor HRM Human Resource Planning Job Analysis N job analysis : a detailed study of the specific duties in a particular job and the human qualities required for that job N a job analysis is made up of the job description and the job specification N job description : the objectives, responsibilities, and key tasks of a job; the conditions under which it will be done; its relationship to other positions; and the skills needed to perform it N job specification : the specific skills, education, and experience needed to perform a job Forecasting HR Demand and Supply N forecasting the supply of labour involves two tasks: forecasting internal supplythe number and type of employees who will be in the firm at some future date forecasting external supplythe number and type of people who will be available for hiring from the labour market at large N replacement chart : an HR technique that lists each important managerial position, who occupies it, how long he or she will probably stay in it before moving on, and who (by name) is now qualified or soon will be qualified to move into it N employee information systems (skills inventories) : computerized systems that contain information on each employees education, skills, work experience, and career aspirations Matching HR Supply and Demand N after comparing future demand and internal supply, managers can make plans to manage predicted shortfalls or overstaffing N if shortfall, new employees can be hired, present employees can be refrained and transferred into understaffed areas, individuals approaching retirement can be convinced to stay on, or labour-saving or productivity-enhancing systems can be installed N if overstaffing is expected to be a problem, the main options are transferring the extra employees, not replacing individuals who quit, encouraging early retirement, and laying people off Staffing the Organization Recruiting Human Resources N recruitin