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UNLV – MGT 301 – CHAPTER 9 NOTESCH9 Human Resource ManagementHuman Capital:Economic Potential of employee knowledge, experience and actions.Social Capital:The economic potential of working relationships.Knowledge Worker:someone who’s main job is to interpret information.Strategic Human Resource Planning: a)Understand current employee needsb)Predict future employment needsJob Analysis:Determine basic elements of a jobJob Description and Job Specification: Specifies what the job entailsHR Inventory:A report showing employee’s information such as name, training, languages, etc.Internal Recruiting:Making people already working in the organization aware of employment opportunities.External Recruiting:Attracting applicants from outside of the organization.RJP (Realistic Job Preview):Gives candidates positive and negative features of a job (Hence the name).Unstructured Interview:Regular informal interview just to find out what the applicant is like.Structured Interview: a)Type 1 Situational:standard questions, comparing responses to standard answers.b)Type 2 Behavioral-Description:find out information on applicant from the past. Employment tests:Ability tests, performance tests, personality tests, integrity tests, and others.Reliability:How consistent measurement of tests are.Validity:free of biases and to the point testing for its purpose.Compensation:a)Wages or Salariesb)Incentivesc)BenefitsBase Pay:Basic Wage5 Steps of Training:a)Assessmentb)Objectivesc)Selection
UNLV – MGT 301 – CHAPTER 9 NOTESd)Implementatione)EvaluationPerformance Management:a)Define Performanceb)Monitor & Evaluate Performancec)Review Performanced)Provide ConsequencesPerformance Appraisal:a)Assess an employee’s performanceb)Provide him or her with feedbackObjective Appraisals:Are based on facts and are often numericalSubjective Appraisals:Manager’s perception of employee based on traits and behaviorFormal Appraisals: Conducted at specific times, based on measurements stablished in advanceInformal Appraisals: Conducted unscheduled and less rigorous360 Degree Assessment: when appraisal is provided by supervisor, peers, subordinates and clientsForce Ranking Performance Review System:all employees are compared against one another and are given grades based on performance1963 Equal Pay Act1964 Civil acts right (no discrimination based on race, color, religion…)1967 Age Discrimination in Employment Act [ADEA] 1970 Occupational Safety & Health Act [OSHA] (Minimum health and safety standards)1974 Privacy Act1974 Employee Retirement Income Security Act [ERISA] (rules for pensions)1985 Consolidated Omnibus Budget Recognition Act [CROBRA] (extension of health insurance after termination)