3. Strategic Human Resource Management

Strategic Planning

Long term planning executed by top management.

Tactical Planning

Short to long-term planning carried out by middle management.

Operational Planning

Daily to weekly planning managed by middle management.

Contingency Planning

Planning primarily handled by top management to prepare for unexpected events.

Autocratic Leadership

A leadership style where a single leader holds complete control with little input from team members.

Democratic Leadership

A leadership style that encourages team member participation in decision-making.

Free-rein Leadership

A leadership style characterized by minimal supervision.

Maslow's Hierarchy of Needs

A theory stating that people's needs depend on what they already possess.

Physiological Needs

Basic needs like food and shelter, related to wages and workspace.

Safety Needs

Protection needs associated with health benefits and safety standards.

Social Needs

Belonging needs fulfilled through teamwork and group activities.

Esteem Needs

Recognition needs that can be satisfied by awards and privileges.

Self-actualization Needs

Fulfillment needs related to creative projects and personal advancements.

Hygiene Factors

Extrinsic factors that prevent dissatisfaction but do not motivate (e.g., good pay, working conditions).

Motivator Factors

Intrinsic factors that truly motivate employees (e.g., achievement, recognition, growth).

Expectancy Theory

Theory stating that people are motivated when their efforts lead to performance and rewards.

Equity Theory

Theory suggesting employees compare their input-output ratio to others to assess fairness.

Human Resource Management

Process of attracting, developing, and retaining employees to meet organizational goals.

Strategic Management

Analyzing competitive situations and devising plans to achieve strategic goals.

Orientation

Process that helps new hires understand company expectations and culture.

Training Programs

Programs analyzing employee performance, preferences, and learning pace.

On-the-job Training

Training method where employees learn through performing tasks under supervision.

Classroom Training

Traditional in-person training format, now often shifted online post-COVID.

Accenture Connected Learning

Training solution that combines classroom and digital formats for adaptability.

Management Development

Focus on improving leadership and interpersonal skills.

Performance Appraisal

Evaluation and feedback process regarding an employee's job performance.

Downsizing

Reducing workforce to cut costs and streamline operations.

Effective Performance Reviews

Regular reviews linked to organizational goals and conducted as a two-way conversation.

Peer Reviews

Assessment where co-workers evaluate each other's performance.

360-degree Reviews

Feedback collected from multiple sources around an employee.

Cloud-based Software

Tools that streamline performance evaluations via digital platforms.

Compensation

Total monetary and benefits package influencing employee lifestyle and satisfaction.

Wage

Hourly or task-based pay that may include overtime.

Salary

Fixed periodic pay received by employees.

Creative Support

Support programs such as on-site daycare and fitness centers offered by employers.

Cafeteria Plans

Benefit programs allowing employees to choose benefits that suit their needs.

Paid Time Off (PTO)

Combined bank for vacation, sick, and personal days.

Flexible Work

Work arrangements accommodating personal needs in hours and location.

Flextime

Option for employees to choose their work hours within established time blocks.

Compressed Workweek

Schedule allowing longer hours over fewer workdays.

Job Sharing

Method where two employees share one job position.

Home-based Work Program

System enabling employees to work from home using digital tools.

Gig Economy

Rise of temporary, freelance, and contract work alongside mobile workers and automation.

Profit Sharing

Scheme allowing employees to share in the company's profits.

Gain Sharing

Program providing group rewards for productivity gains.

Lump-sum Bonus

One-time cash payment based on performance.

Pay for Knowledge

Salary increase granted for learning new job tasks.

Employee Separation

Loss of an employee for various reasons.

Voluntary Turnover

When an employee chooses to leave an organization.

Exit Interviews

Tool for HR to understand the reasons behind employee departures.

Involuntary Turnover

Termination of an employee due to performance issues or other considerations.

Goal-setting Theory

Theory emphasizing that goals focus attention and energize effort.

Goal Specificity

The clarity of targets in goal-setting.

Goal Difficulty

Challenging goals are said to be more motivating.

Goal Acceptance

Agreement and commitment to the established goals.

Performance Feedback

Tracking progress towards goals.

Management by Objectives (MBO)

Technique aligning individual goals with organizational objectives.

Job Enlargement

Increasing the variety of tasks assigned to a job role.

Job Enrichment

Enhancing job responsibilities to empower decision-making and skill development.

Job Rotation

The practice of rotating employees through different roles to enhance engagement.

Theory X

Assumes employees dislike work and require coercion to perform.

Theory Y

Assumptions that employees enjoy work and seek responsibility.

Theory Z

Concept emphasizing worker involvement as key to productivity.

Self Determination Theory

Explains motivation through the fulfillment of basic needs.

Trends in Changing Workforce

Expectations of autonomy, competence, relatedness, and growth.

Labour Unions

Organized groups advocating for improved working conditions.

Labour Relations Boards

Entities overseeing union formation and disputes.

Collective Bargaining

Negotiation process between unions and management.

Grievance Procedure

Formal process for resolving contract violations.

Mediation

A non-binding process involving a neutral third party to provide suggestions.

Arbitration

Legally binding decision-making by an agreed-upon arbitrator.

Union Tactics

Methods used by unions such as strikes, picketing, and boycotts.

Management Tactics

Strategies employed by management including lockouts and strikebreakers.

Strategic Human Resource Management

Planned human resource activities to help organizations achieve goals

Balanced scorecard

performance appraisal based on the perspective of financials, customers, internal processes, and learning/growth