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Chapter 6-HR Supply

Chapter 6-HR Supply - Chapter 6 Ascertaining HR Supply Many...

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Chapter 6: Ascertaining HR Supply Many organizations give preference to internal supply, because selecting these individuals for training and development, and subsequent promotion, enables the organization to reinforce employee loyalty and performance Other reasons for giving preferential consideration to your own workforce to fill job openings include: o Current employees are already socialized to the norms, rules, and procedures of your organization o The employer posses detailed knowledge (as listed on its HRMS skills inventories) of the employees’ performance and KSAs over time (ex. Work history and experience) Human Resources Supply HR supply: The source of workers to meet demand requirements, obtained either internally (current employees) or from external agencies, or both Note: We work out HR Demand first . Methods Many of the same methods we used for HR Demand forecasting work for HR supply Trend analysis (how people have been sourced in the past) Delphi / Nominal Group (supply can be discussed in addition to demand) Value of Internal Hiring Consider: External hires get paid 18-20% more Have more education and experience BUT Are 61% more likely to be laid off or fired and 21% more likely to voluntarily turnover And for their first 2 years, their performance was lower Skills and Management Inventories 1. Examination of the number and capabilities of current employees a. Skills inventory- individualized personnel record held on each employee except those currently in management or professional positions i. Information included: 1. Personnel information 2. Education, training, and skills competencies 3. Work history 4. Performance ratings
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5. Career information 6. Hobbies and interests ii. Must be kept current and employees should be given frequent opportunities to update or correct their personal entries b. Management inventories: enhanced skills inventories because they contain all of the above information except for the following: i. A history of management or professional jobs held ii. Record of management or professional training courses and dates of completion iii. Key accountabilities for the current job iv. Assessment centre and appraisal data v. Professional and industry association memberships Succession Planning/Replacement Analysis Succession planning is critical to effective organizational functioning Helps the organization in being more effective to fill vacant positions The HR supply source comes from: 1. Internal: Current employees 2. External: Potential employees 3. Both: Internal and external Critical to effective organizational functioning Ø Succession management: The process of ensuring that pools of skilled employees are trained and available to meet the strategic objectives of the organization Ø Replacement management: The process of finding employees for key managerial positions Two aspects to succession planning: 1. Long-term succession: Process of training and work experience to enable individuals to assume higher-level job appointments in the future
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