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Chapter 8

RSM100- Chapter 8 [Managing Human Resources].docx

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University of Toronto St. George
Rotman Commerce
John Oesch

Managing Human Resources [Chapter 8] The foundations of human resource management  Human resource management (HRM): set of organizational activities directed at attracting, developing, and maintaining an effective workforce. 1. Planning for human resources: conduct job analysis  forecast demand for labour  forecast internal supply for labour & forecast external supply of labour  develop plan to match demand with supply  Human resource planning involves job analysis and forecasting the demand for and supply of labour o Job analysis: a detailed study of the specific duties in a particular job and the human qualities required for that job Requires two assessments:  Job description: lists the duties of a job, its working conditions, and the tools, materials, and equipment used to perform it  Job specification: lists the skills, abilities, and other credentials needed to do the job o Forecasting HR demand and Supply  Assess trends in past HR usage, future organizational plans, and general economic trends Involves 2 tasks  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 people who will be available for hiring from the labour market at large o Replacement charts: An HR technique that lists each important managerial position, who occupies it, how long they will stay in it before moving on, and who is now qualified or soon will be to move into it (at higher levels of the organization) o Employee information systems (or skills inventories): computerized systems that contain information on each employees education, skills, work experience, and career aspirations (to facilitate both planning and identifying people for transfer or promotion)  After comparing future demand and internal supply, managers can make plans to manage predicted shortfalls or overstaffing Staffing the organization 2. Recruiting human resources: the process of attracting qualified persons to apply for the jobs that are open  some are found internally or externally  Internal recruiting: considering present employees as candidates for openings (recommended, promotion etc)  External recruiting: attracting people outside the organization to apply for jobs (eg. newspapers, internet) i. Internships: short term paid positions where students focus on a specific project 3. Selecting human resources  Validation: the process of determining the predictive value of information  Managers use selection techniques like application forms, tests, interviews, and other techniques o Application forms: o Tests: of ability, skills, or knowledge, some see how well they do on “big 5” personality dimensions  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 with the situation o Interviews: might as curveball questions that you aren’t expecting to see how you’ll think on the spot  Behaviour-based interviewing: an approach to improving interview validity by asking questions which focus the interview much more on behaviour than on what a person says o Other techniques: physical examination, polygraph (lie detector), drug tests Developing human resources  Need training after hired so begin with orientation and then assessment of training and development needs 1. Orientation: the process of introducing new employees to the company’s policies and programs, the co workers and supervisors they will interact with, and the nature of their job 2. Training and development: focuses on the organizations job related needs and the capabilities of the current workforce. Techniques used to deliver information: work based programs, instructional based programs, team building and group based training 1. Work based programs (on the job training): a technique that ties training and development activities directly to task performance o On the job training: those development programs in which employees gain new skills while performing them at work o Systematic job rotations and transfers: a technique in which an employee is systematically rotated or transferred from one job to another 2. Instructional based programs (off the job training): those development programs in which employees learn new skills at a location away from the normal work site o Management development programs: programs that try to enhance conceptual, analytical, and problem solving skills o Usually uses the lecture or discussion approach: an instructional based program in which a trainer presents material in a descriptive fashion to those attending a trainee program o Most large companies run formal in-house management development programs like networking and mentoring:  Networking: informal interactions among managers for the purpose of discussing mutual problems, solutions, and opportunities  Mentoring: having a more experienced manager sponsor teach a less experienced manager - A more technically oriented type of off the job training is computer assisted instruction and vestibule training o Vestibule training: a work simulation in which the job is performed under conditions closely simulating the actual work environment 3. Team building and group based training  Various outdoor training exercises (physical obstacles) Evaluating employee performance  Performance appraisal: the specific and formal evaluation of employees to determine the degree to which they are performing effectively The performance appraisal process  Conducting the performance appraisal o 360 degree feedback: gathering information from a managers subordinates, peers, and superiors when assessing the mangers performance (best one because includes many sources)  Providing performance feedback o Next step is providing feedback, coaching, and counseling Methods for appraising performance  Most methods rely on judgments and ratings  Ranking methods and rating methods are popular o Ranking methods:  Simple ranking method: a method of performance appraisal that requires a manager to rank order from top to bottom or from best to worst each member of a particular work group or department (generally global or overall performance)  Forced distribution method: a method of performance appraisal that involves grouping employees into predefined frequencies of performance ratings o Rating methods:  Graphic rating scale: a method that involves a statement of question about some aspect of an individuals job performance for which the rater must select the response that fits best (most popular)  Critical incident method: a technique of performance in which raters recall examples of especially good or poor performance by an employee and then describe what the employee did (or did not do) that led to success or failure Providing compensation and benefits  Compensation: the set of rewards that organizations provide to individuals in return for their willingness to perform various jobs and tasks within the organization o Eg. base salary, incentives, bonuses, benefits, and other rewards Determining basic compensation  The base level of wages of salary paid to an employee  Wages: hourly compensation paid to operating employees  Salary: dollars paid at regular intervals in return for doing a job, regardless of the amount of time or output involved  Merit pay plans: compensation plans that formally base some portion of compensation on merit (individual performance and contribution
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