Chapter 9 - Chapter 9: *the biggest competitive advantage...

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Chapter 9 : *the biggest competitive advantage in human resources is PEOPLE. HRM : consists of the activities managers perform to plan for, attract, develop and retain an effective workforce. People are the organization’s most important resource. **Purpose is to get optimal work performance to help realize company’s mission & vision. -Human capital : the economic or productive potential of employee knowledge and actions. A present and future employee with the right combination of knowledge, skills, and motivation to excel represents human capital with the potential to give the org. a competitive advantage. -Social Capital : the economic or productive potential of strong, trusting, and cooperative relationships Strategic Human Resource Planning : consists of developing a systematic, comprehensive strategy for understanding current employee needs and predicting future employee needs. Current employees: This requires that you do a job analysis and write a job description and specificiation. -Job Analysis : determines by observation and analysis the basic elements of the job. Can be done in an interview, observation of the flow of work. -Job Description : summarizes what the holder of the job does and how and why they do it. -Job Specification: describes the minimum qualifications a person must have to perform the job successfully. Education, experience, etc. **Doing all this helps make sure you don’t hire under/overqualified people, also, makes it easier to match things from peoples resumes to see if they are good for the job. Future employees needs: you have to become knowledgeable about the staffing the organization might need and the likely sources of that staffing. **you can predict that jobs will periodicially become unoccupied and you will need to the pay the same salaries and meet the same criteria about minority hiring to fill them. Also if growth period you know you need to hire more people ** you can recruit interally or externally. HR inventory : a report listing your organization’s employees by name, education, training, langauages and other important info to see if they are in the qualified pool for a job opening. National Labor Relations Board : enforces procedures whereby employees may have to vote to have a union and for collective bargaining (negotiations between management and employees about disputes over compensation, benefits, working conditions, and job security). Fair Labor Standards Act: established minimum living standards for workers engaged in interstate commerce, including provision of a federal min. wage (7.25 currently), and max work
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week (40 hours) and child labor laws. Salaried executives are NOT a part from overtime/work hours. Title VII of Civil Rights 1964
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This document was uploaded on 11/02/2011 for the course MGT 3304 at Virginia Tech.

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Chapter 9 - Chapter 9: *the biggest competitive advantage...

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