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Rotman Commerce (1,015)
RSM100Y1 (431)
Chapter 8

Chapter 8 summary

8 Pages
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Department
Rotman Commerce
Course Code
RSM100Y1
Professor
Michael Szlachta

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Chapter 8
Human resource management (HRM) the set of organizational activities directed at
attracting, developing, and maintaining an effective workforce
HRM (or personnel) has increased in importance in the last two decades. This new
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
with poor HRM.
Poor human resource planning can result in spurts of hiring followed by layoffs—costly in
terms of unemployment compensation payments, training expenses, and morale
The starting point in attracting qualified human resources is HR planning, which involves
job analysis and forecasting the demand for and supply of labour
Job analysis analyzing the nature of jobs, requires the assessment of two items:
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
these two things are necessary to develop appropriate selection methods and job-
relevant performance appraisal systems and to set equitable compensation fees
After managers have analyzed the jobs, they can start planning for the organizations future
HR needs. The manager starts by assessing trends in past HR usage, future organizational
plans, and general economic trends. Historical data can be used to predict demand for
different types of employees, such as sales representatives.
Forecasting the supply of labour involves two tasks:
forecasting internal supply—the 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
the simplest approach merely adjusts present staffing levels for anticipated turnover
and promotions
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Replacement chart lists each important managerial position, who occupies it, how long he
or she will stay before moving on, and who (by name) is now qualified or soon will be
qualified to move into her/his position.
Employee information systems, or skills inventories these systems are usually
computerized and contain information on each employees education, skills, work
experience, and career aspirations.
To facilitate both planning and identifying people for transfer or promotion
This system can locate every employee who is qualified to fill a position requiring,
say, a degree in chemical engineering, blah blah blah.
Forecasting the external supply of labour is hard because how is a manager going to
predict how many electrical engineers will be seeking work 3 years from now
Planners must rely on outside sources such as government reports and figures
supplied by colleges and universities
After comparing future demand and internal supply, managers can make plans to manage
predicted shortfalls or overstaffing. If a shortfall is predicted, new employees can be hired,
present employees can be retrained and transferred into understaffed areas
If the organization needs to hire, the external labour-supply forecast helps managers plan
how to recruit according to whether the type of person needed is readily available or scarce
in the labour market
Staffing the organization
Recruiting the process of attracting qualified persons to apply for the jobs that are open
Internal recruiting considering present employees as candidates for openings
External recruiting involves attracting people outside the organization to apply for jobs
Internships short-term paid positions where students focus on a specific project
Validation the process of determining the predictive value of information in regards to
hiring candidates that will be most successful in their job
The first step is selection is getting the candidate to fill out a form to gather information
about them, its to decide whether the candidate deserves further evaluation by the
employer (interview).
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Tests of ability, aptitude, or knowledge relevant to a particular job are usually the best
predictors of job success
Assessment centre a series of exercises in which candidates perform realistic
managements tasks under the watchful eye of expert appraisers
Video assessment potential hires are shown videos of realistic work situations and then
asked to choose a course of action to deal with the situation
The interview is a poor predictor of job success because biases that are inherent in the way
people perceive and judge others on first meeting affect subsequent evaluations
curveball questions
Pre-made questions of all candidates
Behavior-based interviewing an approach to improving interview validity by asking
questions which focus the interview much more on behavior than on what a person says
Developing Human Resources
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
Employees must be continually trained and developed to improve the quality of the
contributions they make to the organization. The starting point in assessing training and
development needs is conducting a needs analysis—determining the organizations true
needs and the training programs necessary to meet them. This analysis generally focuses
on two things: the organizations job-related needs and the capabilities of the current
workforce
Work-based programs a technique that ties training and development activities directly to
task performance
On-the-job training the employee is placed in the actual work situation and is
shown how to perform a task by a supervisor or an experienced employee
Systematic job rotations and transfers this method is most likely to be used for
lower-level managers or for operating employees being groomed for promotions to
supervisory management positions. The employee is systematically rotated or
transferred from one job to another. The employee thus learns a wider array of tasks,
and acquires more abilities.
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Description
Chapter 8 Human resource management (HRM) the set of organizational activities directed at attracting, developing, and maintaining an effective workforce HRM (or personnel) has increased in importance in the last two decades. This new 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 with poor HRM. Poor human resource planning can result in spurts of hiring followed by layoffscostly in terms of unemployment compensation payments, training expenses, and morale The starting point in attracting qualified human resources is HR planning, which involves job analysis and forecasting the demand for and supply of labour Job analysis analyzing the nature of jobs, requires the assessment of two items: 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 these two things are necessary to develop appropriate selection methods and job- relevant performance appraisal systems and to set equitable compensation fees After managers have analyzed the jobs, they can start planning for the organizations future HR needs. The manager starts by assessing trends in past HR usage, future organizational plans, and general economic trends. Historical data can be used to predict demand for different types of employees, such as sales representatives. 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 the simplest approach merely adjusts present staffing levels for anticipated turnover and promotions www.notesolution.com
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