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Flashcards covering key concepts in Human Resource Management.
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What is Human Resource Management?
Maximizing the effectiveness of the workforce through recruiting talent, promoting career development, and boosting organizational effectiveness.
What must HR do to gain respect and recognition?
Focus on raising the value of the firm's human capital, and senior management must recognize the role of HR.
What is job analysis?
The study of jobs within an organization, including analyzing the activities an employee performs, the tools and equipment used, and the working conditions.
What is internal recruiting?
Transferring or promoting employees within the company.
What are examples of external recruiting resources?
Employment websites, newspaper ads, trade associations, colleges/universities, employment agencies, and employee referrals.
List the steps in the selection process:
Application, Interviews, Testing, References and background checks
Describe a structured interview.
Develop a list of questions prior to the interview, focusing on behaviors and experiences.
What is the STAR method?
A method to answer behavioral interview questions: Situation, Task, Action, Result.
What are contingent workers?
Temporary full-time workers, independent contractors, and on-call workers.
What are some benefits of training and development?
Increase innovation, technology adoption, productivity, motivation, and decrease liability.
What is the first step in the development process?
Effective orientations.
What is on-the-job training?
Employees begin working under the guidance of experienced employees.
What is off-the-job training?
Training that takes place away from the job setting, such as classroom training and job simulations.
What are performance appraisals?
Formal feedback to compare actual performance to the expected results, impacting compensations, incentives, promotions, transfers, and terminations.
What factors influence compensation?
Competition, Contribution, Ability to pay, Cost of living, Legislation
Define compensation.
The combination of pay and benefits, including wages, salary, and non-cash compensation.
Provide examples of pay for performance.
Commission, Bonuses, Profit sharing, Stock options, Pay for knowledge
List examples of optional benefits.
Extra paid vacation days, paid sick days, extended health care, retirement programs, and product discounts.
What are cafeteria-style benefits?
Employees are provided with a set dollar amount to spend on company benefits, tailoring them to individual needs.
List examples of flexible scheduling.
Flextime, Compressed Workweek, Telecommuting
What is Employment standards legislation?
Defines minimum workplace standards, such as hours of work and minimum wage
What does Employment Equity Act aims to achieve?
Aims to achieve equality in the workplace; applies to all federally regulated employers that have 100 or more employees