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Unformatted text preview: HUMAN RESOURCES MASTER STUDY GUIDE Main Concepts The Challenge of Human Resources Management Strategy and Planning Managing the Y Generation Equal Opportunity Job Analysis, Employee Involvement and Schedules Recruitment and Career Employee Selection Training and Development Appraising and Improving Performance The Challenge of Human Resources Management Human Resources Management- Managing human capital and intellectual assets to achieve organizations objectives Why Study HRM?- HRM issues are relevant to line managers because HRM is in change of: Staffing Designing jobs Developing skillful employees through training Finding ways to improve performance Finding ways to reward employee success Competitive Advantage Through People- Using employees as competitive leverage against other organizations 1. Core Competencies- Knowledge sets that distinguish it from its competitors 2. Competitive Advantage through people is achieved by: Having Value Rare and unavailable to competitors Difficult to imitate Provide synergy to the company Managing Change Change- When an organization undergoes a new process/development 1. Types of Change a. Reactive Change- Change that occurs after external forces have occurred b. Proactive Change- Change initiated to take advantage of an opportunity 2. Managing Change Through People- Creating a change programs help keep employees focused on success of the business on a whole 3. Failures/ Weaknesses when Managing Change a. Not establishing urgency b. Not cohesive group c. No vision of new idea d. No communication e. Not removing obstacles Page 1 of 22 HUMAN RESOURCES MASTER STUDY GUIDE f. Not planning or creating short-term goals g. Declaring victory too soon h. Not solidifying changes in corporate culture Containing Costs During change, costs may arise thus containing costs is essential a. Ways to Contain Costs a. Downsizing- Planned elimination of jobs Layoffs b. Outsourcing- Contracting with companies outside of organization to perform tasks that were once done internally c. Off Shoring- Sending jobs to other countries d. Employee Leasing- Process of dismissing employees who are then hired by leasing company and contracting with that company to lease back the employees i. Creating/contracting a separate HR company and re-hiring old employees b. Costs to Layoffs a. Re-hiring costs b. Vacation/sick day payouts c. Pension/benefit payoffs d. Loss of trust in management e. Lack of staffers when economy recovers f. Survivors are paranoid about job security c. Benefits to not laying off a. Loyal, more productive workforce b. Higher customer satisfaction c. Readiness when economy recovers d. Recruiting edge (saying you cannot get fired when you join this workforce) e. Workers arent afraid to be innovative knowing job is safe Productivity Enhancers- Encourage worker productivity through motivation, environment and ability a. Motivation- Job enrichment, promotions, coaching, feedback, rewards...
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- Fall '07