MGT ch 9 notes pp.docx - MGT Ch 9 notes pp 1 Strategic...

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MGT Ch. 9 notes pp 1 Strategic Human Resource Management Human Resource (HR) Management •Consists of activities managers perform to plan for, attract, develop, and retain an effective workforce •HR professionals are key business partners for the organization’s other leaders as those leaders maintain their teams and grow the organization •Fortune50companies credit a significant part of the competitive advantage to strategic HR initiatives Human Capital - Economic or productive potential of employee knowledge, experience, and actions Knowledge Worker - Someone whose occupation is principally concerned with generating or interpreting information as opposed to manual labor Social Capital - Economic or productive potential of strong, trusting, and cooperative relationships Evaluating Current Employees’ Roles Job Analysis - To determine, by observation and analysis, the basic elements of a particular job Job Description - A summary of the essential functions of the position—what the job holder does, why, and how -The product of a job analysis Job Specification - A description of the minimum qualifications a person must have to perform the job successfully -Often called “Minimum Qualifications” Types of Recruiting Internal Recruiting •Making people already employed by the organization aware of the job opening(s) •Candidates are solicited using formal job postings •LinkedIn •Organization’s career page •Online job boards, etc. External Recruiting •Attracting qualified applicants from outside of the organization Selection Process: Overview Selection Process - Screening of applicants to hire the best candidate Three Key Aspects of the Selection Process •Background information-(Application, resume, references, linkedin and social media) •Interviewing- (Unstructured interview: ordinary convo, loose structure, probing) (structured: same standardized questions) •Employment tests-
Validity and Reliability 2 Validity - The test measures what it purports to measure and is free of bias Reliability - The degree to which a test measures the same thing consistently •An individual’s score should remain relatively the same overtime Compensation Three Parts to Compensation •Wages and salaries •Incentives •Benefits Positioning New Employees for Success

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