Introduction to HRM

Flashcards about Human Resource Management

Human Resource Management

The process of acquiring, training, appraising, and compensating employees, as well as developing policies and strategies for employee retention.

Human Resource Development

Not limited to training and development; includes individual career planning, organization development, performance management, and appraisal.

Authority

The right to make decisions, direct the work of others, and give orders.

Line Authority

Authority that line managers possess, creating a superior-subordinate relationship.

Staff Authority

Authority that staff managers possess, creating an advisory relationship.

Recruiters

Search for qualified job applicants.

Equal employment opportunity (EEO) representatives

Investigate and resolve equal employment opportunity grievances.

Job analysts

Collect information about job duties and prepares job descriptions.

Compensation managers

Develop compensation plans and handle benefits programs.

Training specialists

Plan, organize, and direct training activities.

Labor relations specialists

Advise management on all aspects of union-management relations.

Shared services agreements

Create centralized HR units shared by all departments to assist line managers.

Corporate HR teams

Assist top management in top-level issues.

Embedded HR teams

HR generalists who provide employee selection and other assistance to departments.

freelancers and independent contractor-gig workers

On-demand workers

Human Capital

Knowledge, skills, and abilities of a firm’s workers that produces economic value

Globalization Trends

extending their sales, ownership, and/or manufacturing to new markets abroad

Strategic Human Resource Management

formulating and executing HR policies and practices that produce employee competencies and behaviors

HR department lever

HR manager ensures that the HR management function is delivering services efficiently

employee costs lever

advising top management about company’s staffing levels setting and controlling compensation, incentives, and benefits

strategic results lever

policies and practices that produce employee competencies and skills

Evidence-based HRM

using the best-available evidences in making decisions about HRM practices

Adding Value

helping employees improve in a measurable way as a result of HR manager’s actions

Sustainability

judged not just on profits, but also on their environmental and social performance

Employee Engagement

being psychologically involved in, connected to, and committed to getting one’s jobs done engaged employees have higher connectivity with work tasks = push more effort to accomplish task-related goals

Ethics

principles of conduct governing an individual or group standards use to decide proper conduct

Planning, organizing, staffing, leading, and controlling.

Basic Functions in the Management Process

Planning

Basic Function in the Management Process concerned with goals, rules, plans, and forecasts.

Organizing

Basic Function in the Management Process concerned with task delegation, department and authority establishment, communication channels.

Staffing

Basic Function in the Management Process related to recruitment, selection, compensation, evaluation, and training.

Leading

Basic Function in the Management Process focused on motivating, directing, and influencing employees to achieve organizational goals.

Controlling

Basic Function in the Management Process that involves monitoring performance, comparing it to goals, and taking corrective action as needed.

Human Resource Department

usually provides specialized assistance to line managers in large organizations.

Labor Force Trends

labor force grows more slowly because the labor force participation rate is falling.

Unbalanced Labor Force

unemployment rate are low (usually in jobs that don’t require college educations) while in others, unemployment rates are relatively high (usually in jobs that require college educations)