Chapter 9 - Chapter 9 HUMAN RESOURCE MANAGEMENT Function of...

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Chapter 9 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. CORE RESPONSIBILITIES 1. Employee recruitment and selection 2. Employee training and Performance Evaluation 3. Employee Compensation and Benefits 4. Employee Separation 5. Planning for Staffing Needs 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 1. Must follow legal requirements a. Civil Rights Act of 1964 b. Equal Employment Opportunity Commission c. Civil Rights Act of 1991 2. Failure to follow these exposes company to risk of litigation 3. Hiring is a costly process for employers 4. Some employers require employment tests ORIENTATION AND TRAINING 1. Newly hired employees often complete an orientation program a. Inform employees about company policies b. Employee manuals c. Describe benefits/program 2. Training Programs a. On-the-job training b. Classroom and computer-based training c. 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. COMPENSATION
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Wages- compensation based on an hourly pay rate or the amount of output produced Salary- compensation calculated on a periodic basis, such as weekly or monthly Most firms base compensation decisions on five factors o Salaries and wages paid by other companies that compete for the same people o Government legislation, including the federal, state, or local minimum wage o The cost of living o The firm's ability to pay o Worker productivity EMPLOYEE BENEFITS 1. Employee benefits- Rewards such as retirement plans, health insurance, vacation,
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Chapter 9 - Chapter 9 HUMAN RESOURCE MANAGEMENT Function of...

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