MGT100H1 Chapter Notes - Chapter 8: Theory Z, Collective Bargaining, Theory X And Theory Y
Chapter 8: Human Resource Management: From Recruitment to Labor Relations
●Human resources: the people behind the people
○Human resource management: the function of attracting, developing, and retaining
employees who can perform the activities needed to meet organizational objectives
○Core responsibilities:
■Employee recruitment and selection
■Employee training and performance evaluation
■Employee compensation and benefits
■Employee separation
■Planning for staffing needs
●Orientation, training, and evaluation
○Training programs
■On-the-job training
■Classroom and computer-based training
■Performance appraisals
●Performance appraisal: evaluation of and feedback on an employee’s
job performance
●Compensation: the amount employees are paid in money and benefits
○Motivation for employees to excel:
■Profit sharing: bonus based on company profits
■Gain sharing: bonus based on productivity gains, cost savings, or quality
improvements
■Lump-sum bonus: one-time cash payment or option to buy shares of company
stock based on performance
■Pay for knowledge: salary increase based on learning new job tasks
○Employee benefits: additional compensation - such as vacation time, retirement savings
plans, profit-sharing, health insurance, gym memberships, child and leder care, and
tuition reimbursement - paid entirely or in part by the company
○Flexible benefits
■Offer a choice of benefits, including different types of medical insurance, dental
and vision plans, and life and disability insurance
■Paid time off (PTO)
○Flexible work
■Flexible work plans allow employees to adjust their working hours or their places
of work according to their needs
■Flextime allows employees to set their own work hours within certain limits
■Compressed worksheet allows employees to work longer hours on fewer days
■Job sharing programs allow two or more employees to divide up the tasks of one
job
■Telecommuters are connected to their employers through the internet, voice and
video conferencing, and mobile devices that allow employees to perform their
jobs from home
●Employee separation
○Employee separation: broad term for the loss of an employee for any reason, voluntary
or involuntary
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MGT100H1 Full Course Notes
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Document Summary
Chapter 8: human resource management: from recruitment to labor relations. Human resources: the people behind the people. Human resource management: the function of attracting, developing, and retaining employees who can perform the activities needed to meet organizational objectives. Performance appraisal: evaluation of and feedback on an employee"s job performance. Compensation: the amount employees are paid in money and benefits. Profit sharing: bonus based on company profits. Gain sharing: bonus based on productivity gains, cost savings, or quality improvements. Lump-sum bonus: one-time cash payment or option to buy shares of company stock based on performance. Pay for knowledge: salary increase based on learning new job tasks. Employee benefits: additional compensation - such as vacation time, retirement savings plans, profit-sharing, health insurance, gym memberships, child and leder care, and tuition reimbursement - paid entirely or in part by the company. Offer a choice of benefits, including different types of medical insurance, dental and vision plans, and life and disability insurance.
