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Unformatted text preview: Management Exam 2 Human Resources • Jack Welch o Manager of the century o CEO of GE-transformed the company by increasing the importance of HR; believes role of chief HR officer is more important than CFO o “getting the right people in the right jobs is a lot more important than developing a strategy” o 3 words for business operations: people, product, and profits o winning companies practice differentiation; distinction between top, middle, and bottom performers o elevate HR to a position of power in order to manage people well o Vitality curve-“20-70-10” system; top 20% of the workforce are the most productive, the vital 70 work adequately, and the other 10% are nonproducers and should be fired o “a company that bets its future on its people must remove the lower 10 and keep removing each year always raising the bar of performance and increasing the quality of leadership” o Two views:candor and differentiation o Stressed the importance of management development and training; importance of being up front and honest regarding employees’ performance General Electric Vitality Curve • CEO factory; GE creates a surplus of top management • “A” players-top 20% filled with passion and the 4 E’s-energy, energize their teams, edge, execute • “B” players-vital 70% who are the heart of the company, may not be visionary or the most driven • “C” players-bottom 10% who can’t get the job done; procrastinators • GE success factors:talent is a core strategic resource, hr are respected partners, line managers are responsible and accountable for people development, integrated management development system • Human Resource Management Process o Attracting Qualified Employees-recruiting>Selection o Developing Qualified Employees-Training>Performance Appraisal o Keeping Qualified Employees-Compensation>Employee Separation o Feedback loop-the number and kind of employees who leave the company affect HR needs and planning • Employee Legislation o Federal employment laws o Adverse impact and employment discrimination o Sexual harassment laws Abercrombie& Fitch • Lawsuit alleged that A&F violated Title VII of the Civil Rights Act • Recruiting and hiring practices that discriminated against minorities, women, and adopted a restrictive marketing image • “good looking people attract other good looking people” • Focused on selling a sexual image and a certain look more apparent in white people • Fired Asian-Americans, Latinos, and blacks, or demoted them to non- sales positions • Settlement-benchmarks for hiring and promotion of women, latinos, African Americans, and Asian Americans; Vice President of Diversity responsible for reporting the CEO for progress of fair employment practices; hired recruiters; equal employment opportunity and diversity training; hired 25 new recruiters to focus on females/minorities, and training their employees with hiring authority in equal employment opportunity and diversity •...
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This note was uploaded on 12/01/2010 for the course BMGT 364 taught by Professor Wellman during the Spring '08 term at Maryland.
- Spring '08