Human Resource Management Flashcards

Vocabulary flashcards based on lecture notes about Human Resource Management, Workforce Planning, Recruitment, Selection, Performance Management, Employee Training, Management Development, and Compensation & Benefits.

Human Resource Management (HRM)

The strategic approach to managing people within an organization to maximize their performance and well-being while achieving business goals.

Strategic Human Resource Management

Aligns HR practices with company's long-term objectives, aiding in shaping business strategies and focusing on talent management, employee engagement, and workforce planning.

Workforce Planning

The process of determining an organization’s current and future workforce needs, ensuring the right number of people with the right skills at the right time.

Human Capital Theory

Employees' skills, education, and experience are seen as valuable assets.

Demand and Supply Forecasting

Predicting future employee needs based on business growth and external factors.

Workforce Optimization Theory

Focuses on using the existing workforce effectively by improving productivity and using employee skills in the best way.

Strategic Human Resource Management (SHRM)

Aligning HR plans with the company's business strategy helps ensure the right workforce to achieve organizational goals.

Labor Market Theory

Considers external factors like competition for talent and economic conditions when planning for workforce needs.

Contingency Theory

Recognizes that workforce planning should adapt to changes in the business environment.

Stocktaking

Looking for internal and external factors that impact the companies operation.

Forecasting

The practice of predicting what will happen in the future by considering past and present events.

Recruitment

Drawing in individuals at the right time, in adequate numbers, and with the necessary qualifications to apply for positions within an organization.

Internal Recruitment

The process you use to hire staff members to fill open positions within a company.

External Recruitment

Happens when a hiring team promotes a position to candidates who do not currently work for the company.

Employee Requisition

Outlines the job title, department, required start date, and other relevant details for a new hire.

Recruitment Sources

The locations where skilled candidates can be found.

Recruitment Methods

The particular techniques and strategies used to draw potential candidates to the organization.

Screening

Evaluating job applicants involves scanning resumes and selecting candidates who match the job description.

Selection

The process of assessing candidates ' qualities, expertise, and experience narrows the pool of applicants to identify the best person for the role.

Resume screening

A common technique that assesses if candidates meet the job criteria.

Background checks

Can help ensure that shortlisted candidates' credentials are accurate.

Skill tests

Can help determine if a candidate has the skills and abilities needed for the job.

Reference checks

Can provide insights from an applicant's previous employers, managers, and peers.

Personality tests

Can help companies find which candidates are most likely to succeed.

Screening calls

Can help get to know candidates better and evaluate their motivation.

Hiring decision

The process of choosing who will be employed based on their skills and experience.

Performance Management

A goal-oriented process that is directed toward ensuring that organizational processes are in place to maximize the productivity of employees, teams, and ultimately, the organization.

MASLOW'S HIERARCHY OF NEEDS THEORY

Employees are motivated by fulfilling basic needs first (physiological, safety) before moving toward higher-level needs (esteem, self-actualization).

Hygiene Factors

Salary, work conditions—prevent dissatisfaction.

Motivational Factors

Recognition, achievement—drive productivity and job satisfaction.

EXPECTANCY THEORY

States that people are motivated when they believe their effort will lead to good performance and rewards.

GOAL-SETTING THEORY

Employees perform better when given clear, specific, and challenging goals, coupled with feedback.

TRANSFORMATIONAL LEADERSHIP THEORY

Leaders inspire employees through a shared vision and motivation, fostering commitment and high performance.

Performance Appraisal

To evaluate employee effectiveness, provide feedback, identify development needs, support career growth, motivate employees, set clear expectations, justify HR decisions, and improve communication between employees and management.

Traits

Personal characteristicslike initiative, adaptability, leadership ability, work ethic, and appearance, which can be subjective to assess.

Behaviors

Observable actions and work practicesthat contribute to performance,such as communication skills, teamwork, problem-solving, and meeting deadlines.

Competencies

Specific skills and knowledge required for a role, including technical expertise, analytical ability, customer service, and project managementskills.

Goal Achievement

Measuring performance againstset targets and objectives, ensuring they are SMART (Specific, Measurable, Achievable, Relevant, and Time-bound).

Performance Appraisal

Formal evaluations of an employee's work performance that are carried out on a regular basis by supervisors.

360-Degree Feedback

Gets feedback from superiors, colleagues, coworkers, and even from clients.

Key Performance Indicators (KPIs)

Evaluations that monitor specific goals and targets connected to an employee's role.

Checklists

Simple tools where managers check off whether employees meet specific tasks, skills, or behaviors.

Rating Scales

Standardized scales, like 1–5, are used to rate how well employees perform in specific areas, like as productivity, teamwork, and communication.

Orientation

Process which is used to introduce new employees to know about their jobs, places, friends, supervisors, and organization.

Onboarding

Process of integrating new employees into the workplace in an intelligent matter.

TRAINING NEED ANALYSIS

is the process of collecting data to determine what training employees need to have so that training can be developed to improve the effectiveness of employees and thereby, help the organization meet its business objectives.

TRAINING DESIGN

A structured process of planning and developing a learning experience that aims to equip individuals with the knowledge, skills, and behaviors necessary to achieve specific goals.

TRAINING EVALUATION

It is concerned with the measurement of the training success or effectiveness.

Self-Directed Learning (SDL)

Emphasizesthat individualstake the initiative in diagnosing their learning needs,setting goals, identifying resources, and evaluating their progress.

Cognitive Learning Theory

Emphasizesthe role of mental processesin learning.

Management development

The process of developing the skills and competencies needed to perform in management positions, eitherin existing managers orthose new to management

Systems Theory

Suggests that organizations are complex systems made up of interconnected component.

Situational Leadership Theory

Suggests that effective leadership depends on the situation.

Management development plan

A structured process that helps managers improve their skills and become more effective leaders.

Compensation management

How a company decides and gives pay, bonuses, and benefits to employees.

EQUITY THEORY

Employees perceive fairness in their compensation based on their inputs and outcomes relative to others.

EXPECTANCY THEORY

Suggests that employees will be motivated to work towards a goal if they believe that their efforts will lead to a desired outcome.

MCCLELLAND'S ACQUIRED NEEDS THEORY

Proposes that employees are driven by three acquired needs: need for achievement, need for affiliation, and need for power.

SELF-DETERMINATION THEORY

Suggests that employees are motivated by three innate psychological needs: autonomy, competence, and relatedness.

MASLOW'S HIERARCHY OF NEEDS

Proposes that employees have different levels of needs, ranging from basic physiological needs to self-actualization

Pay model

A framework for designing and understanding the compensation system for employees.

Collective Bargaining

Allows labor unions to negotiate wages and benefits for their members, often resulting in higher pay and better benefits compared to non-unionized workplaces.

Competition

Refers to how organizations set salaries in response to market competition.

Match the competition

Paying the market or going rate for labor.

Lead the competition

Paying higher wages than competing employers.

Lag the market

Paying slightly less than the prevailing levels in the marketplace.

INTERNAL ALIGNMENT

Refers to how compensation is structured within an organization to ensure fairness, equity, and consistency among employees based on roles, responsibilities, and contributions.

EXTERNAL ALIGNMENT

Refers to how an organization's pay levels compare to those of its competitors in the market.

Job Evaluation

Ranking the roles based on based on factors like skills, responsibilities, and the impact of the position.

Pay Structure

Establishing salary ranges or grades for various roles or job categories.

Person-based pay structure

Compensates employees based on their skills, knowledge, and competencies rather than just their job roles.

Pay Transparency

Refers to orgazations openly sharing salary ranges pay structures and even individual salaries in some cases.

Pay Equity

It ensures that employees receive equal pay for equal work regardless of gender, race, onother demographic factors.

Compensation For Remote Work

The shift to remote and hybrid work has led to new compensation strategies.

Employee benefits

Refer to the compensation or rewards that an organization provides to its employees in addition to their regular salary or wages.

EFFICIENCY WAGE THEORY

This theory states that employees are more productive when they receive higher wages and benefits.

SOCIAL EXCHANGE THEORY

This theory proposes that employees form relationships with their employers based on the exchange of benefits and rewards.

TOTAL REWARDS THEORY

This theory suggests that employees are motivated by a combination of financial and non-financial rewards.

Social Security System (SSS)

A government-run program in the Philippines that provides financial assistance and social benefits to its members.

Philippine Health Insurance Corporation (PhilHealth)

A tax-exempt Government Corporation attached to the Department of Health.

Pag-IBIG Fund

The Home Development Mutual Fund (HDMF).

13th Month Pay

The company must grant a pay equivalent to one month pay to all eligible employees.

Vacation Leave

Allows employees to take time off with pay for rest, relaxation, or personal matters.

Bereavement Leave

A workplace policy that enables you to take time off to grieve the loss of a loved one.

Overtime pay

An additional pay of 25% of a covered employee's hourly rate for work performed during overtime.

Talent management

Is how companies find, develop, and keep the best employees to help the business succeed.

Employee benefits as rewards

Are additional perks that companies provide beyond salary to recognize and appreciate their employees.

Employee benefits package

A collection of non-wage compensation offered to employees in addition to their salary.

Financial Planning

Saving enough money to support living expenses, healthcare, and leisure activities in retirement.

Healthcare Planning

Planning for healthcare needs, including insurance, medical expenses, and potential long-term care.

Lifestyle & Emotional Readiness

Defining a fulfilling and engaging lifestyle in retirement, including hobbies, social connections, and personal growth opportunities.