Studied by 1 person
human capital
organization's investment in attracting, retaining and motivating an effective workforce
talent management
view that the people in an organization represent a portfolio of valuable talents and skills that can be effectively managed and tapped in ways best targeted to organizational success
job analysis
systematic analysis of jobs within an organization
job description
list of objectives, responsibilities and key tasks of a job
job specification
list of the specific skills, education and experience needed to perform a job
forecasting internal supply
relates to the number and type of employees who will be in the firm at some future date
replacement chart
shows how long a person will be in the position and who is qualified to move into that position
employee information systems
systems that contain information on each employee's education, skills, work experience and career aspirations
forecasting external supply
relates to the number and type of people who will be available for hiring from the labour market at large
matching HR supply and demand
comparing future demand and internal supply, managers make plans to handle this
recruiting
process of attracting qualified people to apply for available jobs
internal recruiting
considering present employees as candidates for opening
external recruiting
attracting people outside the organization to apply for jobs
job fairs
candidates browse through the positions available and talk face to face with recruiters
internships
short-term paid or unpaid positions where students focus on a specific project
validation
process of determining the predicitive value of information
application forms
recruiters use this data to decide if a candidate should be further evaluated
assessment centre
provider of a series of exercises in which management candidates perform realistic management tasks while being observed by appraisers
video assessment
showing potential hires videos of realistic work situations and asking them to choose a course of action to deal with the situation
behaviour based interviewing
approach to improving interview validity by asking questions that focus the interview much more on behaviour than on what a person says
new employee orientation
process of introducing new employees to the company's policies and programs, the co-workers and supervisors they will interact with and the nature of their job
needs analysis
determines the organization's needs and the training programs necessary to satisfy those needs
on the job training
placing the employee in an actual work situation and having a supervisor or experienced employee demonstrate how to perform on the task
job rotation
having employees learn a wide variety of tasks and acquire more abilities as they are moved from one job to another
off the job training
training performed at a location away from the work site
vestibule training
employees performing work under conditions that closely stimulates the actual work environment
management development programs
developmental programs in which manager's conceptual, analytical and problem-solving skills are enhanced
networking
informal interactions among managers, both inside and outside the office, for the purpose of discussing mutual problems, solutions and opportunities
mentoring
having a more experienced manager sponsor and teach a less experienced manager
performance appraisal
formal program for evaluating how well an employee is performing a job; knowing how effective they are in recruiting and selecting employees
appraisal process
manager defines performance standards
simple ranking method
subjective method where the manager ranks their employees from best to worst performer in a department
forced distribution
grouping employees into predefined frequencies of performance ratings
critical incident method
an example of good or bad performance from the employee
furloughing
workers have hours and pay reduced but retain full benefits
pay surveys
shows compensation being paid to employees by other employers in a particular geographic area, industry or occupational group
job evaluation
method for determining the relative value of a job to the organization so that employees are compensated appropriately
piece-rate incentive plan
compensation system in which an organization pays an employee a certain amount of money for every unit produced
pay for knowledge plans
encourages workers to learn new skills and become proficient at different jobs
pay for performance plans
managers are rewarded for especially productive outputs
workforce management systems
schedules the most productive staff to work at the store's busiest times
profit sharing plans
incentive program in which employees receive a bonus depending on the firm's profits
gainsharing plans
incentive program in which employees receive a bonus if the firm's costs are reduced because of their greater efficiency or productivity
mandated protection plans
plan that protects employees when their income is threatened or reduced by illness, disability, death, unemployment or retirement
wellness programs
concentrates on preventing illness in employees rather than simply paying expenses when they get sick
cafeteria style benefit plans
employees are allocated a certain sum to cover benefits and can "spend" this allocation on the specific benefits they prefer
equal employment opportunity regulations
regulations to protect people from unfair or inappropriate discrimination in the workplace
Anti-discrimination laws
ensures that any individual who wishes to obtain a job has an equal opporutnity to do so
comparable worth
legal concept that aims at paying equal wages for jobs that are of comparable value to the employer
defined benefit pension plan
guarantees employees a certain annual income when they retire
defined contribution plan
companies must contribute a certain amount of money each year for employee pensions
target benefit pension plan
target benefit is defined and the contribution necessary to get such a benefit is calculated
knowledge workers
workers who are experts in specific fields and add value because of what they know rather than how long they have worked or the job they do
contingent workers
employee who works for an organization on something other than a full or part time basis
labour union
group of individuals working together to achieve shared job-related goals
labour relations
overall process of dealing with employees who are represented by a union
collective bargaining
process by which union leaders and company management negotiate terms and conditions of employment; ongoing process involving both the drafting and administration of the terms of a labour contract
fair employment practices
prohibits an employer from refusing employment based on a person's race or religion
bargaining unit
individuals grouped together for purposes of collective bargaining
certification vote
vote supervised by a government representative to determine whether a union will be certified as the sole bargaining agent for the unit
decertification
process by which employees legally terminate their union's rights to represent them
closed shop
union-employer relationship in which the employer can hire only union members
agency shop
all employees for whom the union bargains must pay union dues, but don't have to join the union
open shop
employer may hire union or non-union labour, employees pay no dues
craft unions
organized by trade
industrial unions
organized according to industry
local union
basic unit of union organization in a specific geographical area
independent local union
union that is not formally affiliated with any labour organization
contract issues
compensation, benefits, job security, management rights, working hours, etc.
strike
employees temporarily walk off the job and refuse to work
picketing
having workers march at the entrance to the company with signs explaining reasons to strike
sympathy strikes
one union strikes in sympathy with a strike initiated by another union
wildcat strikes
strikes that aren't authorized by a union or that occur during the life of a contract
sickout
large number of workers call in sick
lockout
employers physically deny employees access to workplace
strikebreakers
replacements for the absent employees
employers' association
groups of companies that come together to plan strategies and exchange info about how to manage their relations with unions
concillation
settles contract dispute by having a neutral third party help the two sides clarify the issues that are separating them
mediation
neutral third party is asked to hear arguments from both the union and the management and offer a suggested resolution
arbitration
neutral third party imposes a binding settlement on the disputing parties
voluntary arbitration
disputing parties agree to submit the dispute to outside judgement
compulsory arbitration
used to settle disputes between government and public employees
Note
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