Unit 10

Contingent workers

workers who don't have regular full time employment that take on short term projects/fill temporary needs

Employee lifecycle (ELC)

considers how employees progress through a company

Recruitment

the process of attracting and selecting quality talent that best fit the needs for the roles within a company

Onboarding

the process of providing orientation for new employees

Development

focus on enhancing the potential of employees, both professionally and personally, by providing learning opportunities to develop their skills

Retention

focus on continually motivating and engaging your employees, with the aim to manage employee satisfaction to keep top talent

Offboarding

managing employee departures (voluntary/involuntary)

Flextime plans

where employees can arrive and leave work at times that can accommodate their personal and professional responsibilities, as long as they are at work within core times

Fringe benefits

optional benefits that a company may grant which can attract and retain employees

Job rotation

training to groom future leaders by providing them with exposure to different areas of the business, gaining new skills, and connecting with many others in the company

Pay equity

looks at equal pay for work of equal value where all employees are assessed on neutral performance factors like skill, effort, and responsibility

Internal equity

looks at whether people within an organization are compensated fairly

External equity

looks at how compensation may compare to competitors or industry averages

Performance appraisals (evaluations)

measure actual performance against standards to make decisions

Profit sharing

a bonus awarded if the company is able to reach certain targets and shared with the team that helped reach them

Turnover rate

the percentage of employees that leave the company each year

Understudy positions

where emerging leaders support leaders with planning and tasks, effectively taking on more responsibilities that they might inherit in the future

Knowledge management

capture the wealth of knowledge and best practices that could be lost upon the departure of the retiring employee

steps in the employee life cycle

recruitment
onboarding
development
retention
offboarding

5 steps in the recruitment plan

prepare job description
use recruitment tools
conduct initial screen of applicants
interview
offer the job

performance appraisal steps

establish/communicate standards
evaluate performance
share/discuss results
make decisions

how to manage employee satisfaction

compensation
employee benefits
workplace perks
work arrangements

examples of Canadian laws that protect employee rights

employment standards
workplace health and safety regulations
employment equity and human rights

HRM trends/issues today

multigenerational workforce