Chapter 1 Flashcards
The World of Human Resources Management (36 cards)
Human resources management (HRM)
The process of managing human talent to achieve an organization’s objectives
Overall Framework for HRM visualized
Left Affecting Middle:
Competitive Challenges
Middle being Affected:
Human Resources
Right Affecting Middle:
Employee Concerns and Issues
Competitive Challenges (HRM Framework) examples
- Challenges in the marketplace & economy
- Globalization
- Sustainability
- Technology
- Productivity and cost challenges
- Leveraging employee differences
Human Resources (HRM Framework) examples:
- Planning
- Job design
- Recruitment
- Staffing
- Training & Development
- Appraisal
- Communications
- Compensation
- Benefits
- Labour Relations
- International HR
Employee Concerns and Issues (HRM Framework) examples
- Job security
- Healthcare
- Diversity issues
- Age, gender, and generational issues
- Retirement issues
- Education levels
- Employee rights and privacy
- Work attitudes and employee engagement
- Work-life balance
How did the COVID-19 pandemic change the way that people are managed in organizations?
The pandemic affected how we now recruit, select, train, appraise, and reward employees
Means that companies use to modify operations to be more successful
Reengineering, downsizing, and outsourcing
Six Sigma
A set of principles and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement
Top trends or competitive issues/challenges (List them)
- Responding strategically to crisis, changes, and disruptions in the local and global marketplace
- Setting and achieving corporate social responsibility and sustainability goals
- Advancing HRM with technology
- Containing costs while retaining top talent and maximizing productivity
- Responding to the demographic and diversity challenges of the workforce
- Adapting to educational and cultural shifts affecting the workforce
Reengineering
The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed
Downsizing
Planned elimination of jobs
Outsourcing
Contracting out work that was formerly done by employee
Change management
a systematic way of bringing about and managing both organizational changes and changes on the individual level
Reactive changes
Changes that occur after external forces have already affected performance
Proactive changes
Change initiated to take advantage of targeted opportunities
Globalization
The trend to opening up foreign markets to international trade and investment
Corporate Social Responsibility
The responsibility of the firm to act in the best interests of the people (stakeholders) and communities affected by its activities
Sustainability
Doing business in a way that does as little harm to the environment and depletes as few natural resources as possible
Collaborative software
Software that allows workers to interface and share information with one another electronically
Knowledge Workers
Workers whose responsibilities extend beyond the physical execution of work to include planning, decision making, and problem solving
Human Resources Information System
A computerized system that provides current and accurate data for purposes of control and decision making
Workforce (HR) analysis
The process of gathering and analyzing data to improve a firm’s human resources management
Furloughing
A situation in which an organization asks or requires employees to take time off for either no pay or reduced pay
Offshoring
The business practice of sending jobs to other countries
