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Chapter 8

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University of Toronto St. George
Rotman Commerce
John Oesch

CHAPTER 8 MANAGING HUMAN RESOURCES Human resource management (HRM) set of organizational activities directed at attracting, developing, and maintaining an effective workforce. Takes place w/in a complex and ever- changing envtal context and is increasingly being recognized for its strategic importance o Strategic Importance of HRM Sometimes called personell. Now its importance stems from increased legal complexities, the recognition that human resources are a valuable means for improving productivity, and the awareness of the costs associated w/ poor human resource management. Impact on a firms bottom-line performance Poor HRM can result in spurts of hiring followed by layoffs- costly in terms of unemployment compensation ypayments, training expenses, and morale. o Human resource planning Its the starting point in attracting qualified human resources. =HR planning involves job analysis and forecasting the demand for and supply of labour JOB ANALYSIS o Job analysis: detailed study of the specific duties in a particular job and the human qualities required for that job o Job description: the duties of a job, its working conditions, and the tools, materials, and equipment used to perform it o Job specification: the skills, abilities, and other credentials needed to FORECASTING HR DEMAND AND SUPPLY o After managers have analyzed the jobs that must be performed w/in an org, they can start planning for the orgs future HR needs They start by assessing trends in past HR usage, future organizational plans, gral. Econ. Trends Good sale forefast is often the foundation, especially for smaller orgs Historical data can then be used to predict demand for diff. types of employees, such as operating employees and sales representatives o Forecasting the supply of labor involves 2 tasks Forecasting internal supply: # and type of employees wholl be in the firm at some future date Forecasting external supply: # /type of ppl who will be available for hiring from the labor market at large o Large orgs use extremely sophisticated models to keep track of the present/future distributions of professionals and managers Replacement charts: an HR technique that lists each imp. Managerial position, who occupies it, how long he/she will probably stay in it before moving on, and who (by name) is now qualified or soon will be qualified to imove into it. This technique allows ample time to plan devtal experiences for ppl identified as potential successors to critical managerial jobs Skills inventory: competerized systems that contain info on each empoyees education, skills, work experience, and career aspirations. can facilitateboth planning/identifying ppl for transfer/promotion Forecasting the external supply of labour is a diff. problem altogether. MATCHING HR SUPPLY AND DEMAND o After comparing future D and internal S, managers can make plans to manage predicted shortfalls or overstaffing STAFFING THE ORGN o Study has found that the top 3 characteristics empoyers are looking for when they hire ppl are: Good work ethic Reliability Willingness to stay on the job o *staffing of the business is one of the most complex and imp. Aspects of good HR manag o Recruiting Human Resources Recruiting = the process of attracting qualified persons to apply for the jobs thatre open Internal Recruting= considering present employees as candidates for openings External recruiting = attracting ppl outside the org. to apply for jobs o Methods for this includes: newspaper;enternet advertising; campus interviews; employment agencies, etc o Internships: ST paid positions where students focus on a specific project o Selecting HR Validation: the process of determining the predictive value of info Application forms efficient method of gatering info about the applicants previous work history, educational background, and other job-related. Grally used informally to decide whether a candidate merits further evaluation, and interviewers use app forms to familiarize themselves w/ candidates b4 interviewing them Testso Must be job related an must be a valid predictor of performance. They should be administered and scored consistently, and all candidates should be give same directions/time/envt Assessment centre: a series of exercises in which candidates perform realistic management tasks under the watchful eye of expert appraisers Video assessment: potential hires are shown videos of realistic work situations and are then asked to choose a course of action to deal w/ the situation + reliable, cheap and versatile Interviews : popular selection device.. but sometimes poor predictor of job success b/c biases first impressionetc o Behavior based interviewing: an approach to improving interview validity by asking ?s which focus the interview muce > on behavior than on what a person says. Approach to improving interview validity Other techniques o Ex. Physical examination DEVELOPING HUMAN RESOURCES
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