Troy University HRM-4481 Exam 1 Terms

competitive advantage

something that a company can do differently from its competitors allowing it to perform better, survive, and succeed in its industry

strategic staffing

The process of staffing an organization in future-oriented and goal-directed ways that support the organization's business strategy and enhance organizational effectiveness.

What are the seven components of strategic staffing?

Workforce Planning

Sourcing Talent

Recruiting Talent

Selecting Talent

Acquiring Talent

Deploying Talent

Retaining Talent

Workforce Planning

the process of predicting an organization's future employment needs and the availability of current employees and external hires to meet those employment needs and execute the organization's business strategy

Sourcing Talent

Locating qualified individuals and labor markets from which to recruit

Recruiting Talent

All organizational practice and decisions that affect either the number of types of individuals willing to apply and accept job offers

Selecting Talent

Assessing job candidates and deciding whom to hire

Acquiring Talent

Involves putting together job offers that appeal to chosen candidates, and persuading job offer recipients to accept those job offers and to join the organization

Deploying Talent

Assigning talent to appropriate jobs and roles in the organization

Socializing

The process of familiarizing newly hired and promoted employees with their job, workgroup, and organization as a whole

Process Goals (goals during the hiring process)

Attracting sufficient numbers of appropriately qualified applicants

Complying with the law and organizational policies

Fulfilling any affirmative action obligations

Meeting hiring timeline goals

Staffing efficiently

Outcome Goals (goals after hiring)

Hiring successful employees

Hiring individuals who will be eventually promoted

Reducing turnover rates among high performers

Hiring individuals for whom the other HR functions will have the desired impact

Meeting stakeholder needs

Maximizing financial return on firm's staffing investment

Enhancing employee diversity

Enabling organization flexibility

Enhancing business strategy execution

Business Strategy

How a company will compete in its marketplace

Sources of Competitive Advantage

Innovation

Cost

Service

Quality

Branding

Distribution

Speed

Convenience

First to Market

What are the Three Types of Business Strategy?

Cost Leadership Strategy

Differentiation Strategy

Specialization Strategy

Cost Leadership Business Strategy

Strive to be the lowest cost producer for a particular level of product quality (examples: Walmart, Dell, FedEx)

Differentiation Business Strategy

Developing a product or service that has unique characteristics valued by customers (examples: Nike, Johnson&Johnson)

Specialization Business Strategy

Focus on a narrow market segment or niche and pursue either a differentiation or cost leadership strategy within that market segment (examples: Starbucks, Red Lobster)

Operational Excellence

Maximizing the efficiency of the manufacturing or product development process to minimize costs

Customer Intimacy

Deliver unique and customizable products or services to meet the customers' needs and increase customer loyalty

Growth Strategy

Company expansion organically (happening as the organization expands from within by opening new locations) or through mergers and acquisitions

Talent Philosophy

A system of beliefs about how employees should be treated

The Uniform Guidelines on Employee Selection Procedures (1978)

Defines discrimination and good conduct for validity studies, and suggest ways for identifying adverse impact and ensuring the appropriateness of a staffing process

The Society of Human Resource Management (SHRM)

Represents over 200,000 human resource practitioners and provides a code of ethics for its members

Human Resource Strategy

The linkage of the entire human resource function with the firm's business strategy in order to improve business strategy execution

Staffing Strategy

The constellation of priorities, policies, and behaviors used to manage the flow of talent into, through, and out of an organization over time

Competitive Talent Advantage

Acquiring a stock of quality talent that creates a competitive advantage

Human Process Advantage

Superior work processes that create a competitive advantage

Employee

Someone hired by another person or business for a wage or fixed payment in exchange for personal services, and who does not provide the services as part of an independent business

Independent Contractor

Performs services wherein the employer controls or directs only the result of the work

Contingent Workers

Any job in which an individual does not have a contract for long-term employment

Employment at Will

Either party can terminate the employment relationship at any time, for just cause, no cause, or any cause that is not illegal, with no liability as long as there in no contract for a definite term of employment

Labor Unions

Legally representing workers, organizing employees and negotiating the terms and conditions of union members' employment

Closed Shop Union Model

Exclusively employs people who are already union members

Union Shop Union Model

Employs both union and non-union workers, but new employees must join the union within a specified time limit

Agency Shop Union Model

Requires non-union workers to pay a fee to the union for its services in negotiating their contract

Open Shop Union Model

Does not discriminate based on union membership in employing or keeping workers

Right To Work Law

Guarantees that no person can be compelled, as a condition of employment, to join or not to join, nor pay dues to a labor union

Goal of Risk Management

Identify, assess, and resolve risks to the organization before they become serious threats through risk assessment and risk control

Equal Employment Opportunity (EEO)

Employment practices are designed and used in a "facially neutral" manner

Affirmative Action (AA)

The proactive effort to eliminate discrimination and its effects, and to ensure nondiscriminatory results in employment practices in the future

Affirmative Action Plan

Describes in detail the actions to be taken, procedures to be followed, and standards to be adhered to, when it comes to establishing an affirmative action program

Staffing Quotas

Establish specific requirements that certain percentages of disadvantaged groups be hired to equalize their proportional representation of underrepresented groups in the company's workforce with their proportions in the organization's relevant labor market

Disparate Treatment

Intentional discrimination based on a person's protected characteristic

Adverse (Disparate) Impact

When an action has only a disproportionate effect on a protected group, regardless of the employer's intent

Uniform Guidelines of Employee Selection Procedures

States that organizations must keep records of applicant flow statistics and applicant selection rates must be calculated

The 80% Rule

A selection rate of any race, sex, or ethnic group which is less than 80% of the rate for the group with the highest rate will generally be regarded as evidence of adverse impact

To win a negligent hire case, an employer must be able to prove:

The existence of an employment relationship between the employer and worker,

Employee's unfitness,

Employer's actual constructive knowledge of the employee's unfitness,

Employee's act or omission causing the third party's injuries,

Employer's negligence in hiring the employee as the most likely cause of plaintiff's injuries

Negligent Retention

Focuses on situations in which a company knowingly retains employees who have a high risk of injuring themselves or others

Negligent Referral

Misrepresenting or failing to disclose complete and accurate information about a former employee

Algorithmic Bias

Occurs when the data used reflects and continues previous biases, creating "discrimination by algorithm"

Job Analysis

Systematic process of identifying and describing the important aspects of a job and the characteristics workers need to perform the job well

Job Design

Specifying the content and relationship method of doing a job, and the relationship between jobs, to meet both the technological and organizational job requirements and the social and personal requirements of the workers

Job Redesign

Changing the job to increase work quality or productivity

Workflow Analysis

Analyzes how work progresses through the organization to improve efficiency by identifying bottlenecks, redundant tasks, and inefficient workspaces to enable better resource use

Job Families

Groupings of jobs that either call for similar worker characteristics or contain parallel work tasks

Future-Oriented Job Analysis

Job analysis technique for analyzing how jobs will look in the future

Essential Functions

Fundamental duties of a position

Job Description

A written description of the duties and responsibilities associated with the job itself

Person Specification

Summarizes the characteristics of someone able to perform the job well

Essential Criteria

Job candidate characteristics that are critical to the adequate performance of a new hire

Desirable Criteria

Job candidate criteria that may enhance the new hire's job success, but that are not essential to adequatejob performance

Competency Modeling

A job analysis method that identifies the necessary worker competencies for high performance

Competencies

More broadly defined components of a successful worker's repertoire of behavior needed to do a job well

Job Rewards Analysis

Identifies the intrinsic and extrinsic rewards of a job

Intrinsic Rewards

Rewards that are non-monetary and derived from the work itself and the firm's culture

Extrinsic Rewards

Rewards that have monetary value

Total Rewards

Intrinsic Rewards + Extrinsic Rewards

Employee Value Proposition (EVP)

Intrinsic and extrinsic rewards and employee receives by working for a particular employer in return for their job performance