Class 9: HRM

Human Resource Management

Managing an organization's most important resource: people.

What are the Human resource practices?

- Recruitment/selection

- Compensation/benefits

- Onboarding and L&D

- Performance management

- Employee relations

Human Capital

The right employee working effectively in an organization.

Social Capital

The right employees working together cohesively.

Internal Recruiting

Hiring candidates from within the organization.

External Recruiting

Hiring candidates from outside the organization.

Hybrid Approaches (Referrals and Boomerangs)

Using the Inside to Hire from the Outside

Selection

Its the process of screening applicants and choosing the best candidate

Selection process

going through:

Background information

Interviews

Employment Tests

Legally Defensible Selection Tools

Selection methods compliant with discrimination laws.

Background Information

Verification of applicants' information and history.

- Application forms

- Resumes

-Background checks

What are the 3 types of interviews?

- Structured

- Situational

- Behavior

Employment Tests

Assessments measuring ability, performance, personality, and Integrity.

Ways to manage an effective workforce

- Wages or salaries

- Incentives

- Benefits

Wages

Hourly pay for work performed.

Salary

A fixed amount of money paid to an employee for each pay period.

Incentives

Motivational rewards for achieving specific goals.

work Benefits

Employee perks like medical coverage and retirement plans.

Onboarding

Effective programs that can generate many benefits and help newcomers Lear the Ropes.

Positive Onboarding

Enhances commitment, satisfaction, and productivity that increases customer satisfaction and overall helps with lowering the turnover.

Negative Onboarding

Leads to decreased satisfaction and higher turnover.

Performance Management

Process of assessing employee performance and development.

Steps of Performance management

Step 1: Define performance

Step 2: Monitor and evaluate performance

Step 3: Review performance

Step 4: Provide Consequences

Step 1 of Performance Management

Set goals and communicate performance expectations

Step 2 of Performance Management

Measure and evaluate progress and outcomes

Step 3 of Performance Management

Deliver feedback and coaching

Step 4 of Performance Management

Administer valued rewards and appropriate punishment

Objective Appraisals

Performance evaluations based on measurable results.

Subjective Appraisals

Performance evaluations based on personal judgment.

Who should make performance appraisals?

- Supervisors

- peers

- Subordinates

- Self

- Customers/Clients

How to make performance Appraisals

- 360-degree Assessment

- Rating

- Ranking

360-Degree Assessment

Appraisal by multiple sources

Rating performance appraisals example

3 out of 5 on "communication"

Ranking performance Appraisals example

You are 1,245 out of 2,311 employees

Managing promotions

Moving UPWARD

Managing Transfers

Moving SIDEWAYS

Managing Disciplining and Demotion

Moving DOWNWARD

managing Dismissal

Moving OUT

diversity inclusive model

includes all ways in which employees are different and similar

Ex: Spiritual beliefs, cultural values, etc.

Diversity today is defined in the terms of:

- race

- gender

- age

- lifestyle

- Differently ability