review #3 - HRM Strategic Human Resource Mgmt managing the...

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HRM Strategic Human Resource Mgmt managing the HRM system to support the organization’s strategy and goals Firms with excellent HRM Systems have greater market value per employee 1. Internal Recruiting Pro: Job candidates and qualifications are relatively known, motivates employees Con: Often costly if job skills must be learned on the job 2. External Pro: Brings in new skills and ideas Con: Outsider’s actual capabilities and fit (e.g., with organizational culture) are relatively unknown 3. Selection Tools, including validity and advantages Assessing applicant’s qualifications in order to hire the most appropriate candidates o Standard Tools: Resumes and application forms – initial screening Interviews – almost universal and reasonably valid Written tests - measure intelligence, ability, personality. – popular; validity varies Reference checks – tough to get negative information o Performance-simulation tests Work sampling - perform key tasks (non-managerial jobs) Assessment center - simulate challenges of managerial jobs Most valid, but expensive Training vs. Development 1. Action Learning Link conceptual learning with actual job tasks a. Major issue with non-technical training is the “now what do I do on my real job” problem. Routines and inertia can suppress innovation .
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Powerful because employee learns techniques and concurrently - as part of the curriculum - uses them on an actual project in their job. General Electric example – making a report to your boss’s boss 2. Compensation & Benefits Trends - Compensation trends are following the move towards flat, flexible, responsive organizations: a. Reduce number of pay levels – “bands” not levels b. Skill-based pay c. Pay for performance 3. Benefits a. Legally required: social security, workers’ compensation b. Voluntary: health insurance, retirement, day care c. Cafeteria-style and other flexible benefits plans i. Examples: Netflix, IBM 4. Pay for performance (pros) Eg commissions; bonuses; employee stock options Increased motivational leverage o Large changes (tied to current performance) rather than small o Encourage focus on team or organizational goals Flexible o Allows costs to naturally vary with firm success o Reduced need for downsizing or salary “cuts”. Performance Management Two core goals of performance management; why do they conflict? : Appraising and developing employee performance 1. Growth and development requires understanding and support. 2. Appraisal requires objectivity and tough evaluation decisions. 3. Employees want feedback, but want to maintain positive self-images. Two reasons managers do a poor job on performance appraisals
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review #3 - HRM Strategic Human Resource Mgmt managing the...

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