Business Notes 2

Business Notes 2 - C hapter 9 H uman Resource Management...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 9: Human Resource Management, Motivation, and Labor- Management Relations Human resource management: function of attracting, developing, and retaining enough qualified employees to perform the activities necessary to accomplish organizational objectives. Three main objectives: 1) Providing qualified, well-trained employees for the organization 2) Maximizing employee effectiveness in the organization 3) Satisfying individual employee needs through monetary compensation, benefits, opportunities to advance, and job satisfaction Responsibilities - Core responsibilities of human resource management o Employee recruitment and selection o Planning for staffing needs o Employee separation o Employee compensation and benefits o Employee training and performance evaluation Recruitment and selection Issues - 25% of human resource professionals report a shortage of job candidates with degrees in science, engineering, technology and mathematics - 78 million Baby Boomers will retire with only 46 million Generation X workers to replace them - HR must be creative in searching for qualified employees. - Businesses look both internally and externally Selecting and Hiring Employees
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
- Must follow legal requirement o Civil Rights Act of 1964 o Equal Employment Opportunity Commission programs o Civil Rights act of 1991 - Failure to follow these exposes company to risk of litigation - Hiring is extremely costly for employers - Some employers require employment tests. Orientation and Training - Newly hired employee often completes an orientation program o Inform employees about company policies o Employee manuals o Describe benefits/ programs o Training - Training Programs o On- the- job training o Classroom and computer- based training o Management development Performance Appraisals - Performance appraisal- evaluation of an employee’s job performance - Some firms conduct peer reviews while other firms allow employees to review their supervisors and managers - 360- degree performance review: a process that gathers feedback from a review panel that includes co-workers, supervisors, team members, subordinates, and sometimes customers
Image of page 2
- Brag book: book about ourselves: including resume, e-mails from a boss [if its nice], awards, etc. Compensation - Wages: compensation based don an hourly pay rate or the amount of output produces - Salary: compensation calculated on a periodic basis, such as weekly or monthly - Most firms base compensation decisions on five factors: 1) Salaries and wages paid by other companies that compete for the same people 2) Government legislation, including the federal, state, or local minimum gage 3) The cost of living 4) The firm’s ability to pay 5) Worker productivity Employee Benefits - Employee benefits: rewards such as retirement plans, health insurance, vacation, and tuition reimbursement provided for employees either entirely or in part at the company’s expense o 30% of total employee compensation - Some benefits required by law: o Social security and Medicare contributions o
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern