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RSM100Y1 (431)
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Chapter 8

RSM 100 - Chapter 8 - Summary Notes

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University of Toronto St. George
Rotman Commerce
John Oesch

RSM 100Y – Chapter 8: Managing Human Resources Human Resource Management Set of activities aimed at recruiting, and maintaining an efficient workforce. Human Resource Planning Job Analysis: Determining the specific duties and qualities required for a job Job Description: Outlines objectives/responsibilities for a job, skills required, relationship to other positions, conditions under which the job will be performed Job Specification: Specific skills, education, training that is required Forecasting HR Demands Based on sales forecast, or trends in the past within the company… must examine: Internal Supply of Labour – People in house who could do the job External Supply of Labour – People outside who could do the job Replacement Chart – Tells who holds a position, for how long, and their replacement Skills Inventories – Keeps track of training, education, skills, experience and career path Recruiting Human Resources Internal Recruiting – Looking at present employees to fill new positions External Recruiting – Attracting people outside an organization to apply for a job Internships – Short-term paid position for students to focus on specific project Selecting Human Resources Application Forms – Gather relevant data about an applicant Tests – Evaluate their skills, abilities, competencies, education Assessment Centre – A series of tasks and small tests over a period of time to get a more complete evaluation of a candidate; can also be done via video skits Interviews – Once all checks are passed, they meet with the HR people  Loosing effectiveness as people are good at giving the “right” answers all the time  Testing becoming more effective Steps to selecting employees: Application  Interview #1  Test  References  Interview #2  Hire me! Developing Human Resources New Employee Orientation: Getting the employees to understand policies and culture Training and Development Work-Based Programs On-the Job training – Learning job related tasks by doing Vestibule Training – Simulates actual job conditions (Flight simulators) Systematic Job Rotation – Moves an employee around to get lots of skills Instructional Based Programs Lecture or discussion Approach – SCHOOOOOL! Off-the Job Training – Central training site, or Computer/Online Based Training Team Building/Group Based Builds team spirit through “fun” or “challenging” activities (Kinex bridge!!) Evaluating Performance Performance Appraisal: Evaluates how an employee is performing their job Information may come from subordinates, peers and supervisors (360-feedback) Providing Feedback: Usually hard for managers to do since it’s mostly negative Methods for Appraising Performance Ranking Method – Rank employees from best to worst performing Forced Distribution – Bell-curve performance of employees Rating Method – Evaluate statements from 1 – 10, or Strongly Agree/Disagree Critical Incident – Recall and describe an example of good or poor performance Compensation of Workers Wages = Hourly Pay for low-level jobs vs. Salary = Yearly/monthly pay Pay Surveys – A compilation of all compensations for various positions
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