Chapter 1: The Rewards and Challenges on Human Resource Management Flashcards Preview

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Flashcards in Chapter 1: The Rewards and Challenges on Human Resource Management Deck (38)
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1

collaborative software

software that allows workers to interface and share information with one another electronically

2

corporate social responsibility

the responsibility of the firm to act in the best interests of the people and communities affected by its activities

3

downsizing

planned elimination of jobs

4

employee leasing

the process of dismissing employees who are then hired by a leasing company )which handles all HR-related activities) and contracting with that company to lease back the employees

5

furloughing

a situation in which an organization asks or requires employees to take time off for either no pay or reduced pay

6

home-shoring

occurs when a firm relocates jobs abroad back to its domestic market

7

human capital

the knowledge, skills, and other capabilities (KSAO's) of individuals that have economic value to an organization

they cannot be managed the same way that companies manage jobs, products and technologies

8

human resource information systems (HRIS)

a computerized system that provides current and accurate data for purposes of control and decision making in HR

consider:
- fit of the application to the firm's employee base
- ability to upgrade or customize the application
- compatibility with current system
- user friendliness
- collaboration capabilities
- recruiting and applicant tracking
- scheduling
- availability of technical support
- time required to implement and train staff members to the use of HRIS
- initial costs and annual maintenance costs

9

human resource management (HRM)

the process of managing human talent to achieve an organization's objectives

the goal is to attract and retain the best talent!

10

knowledge workers

workers whose responsibilities extent beyond the physical execution of work to include planning, decision-making, and problem-solving

11

line managers

non-HR managers who are responsible for overseeing the work of other employees

12

nearshoring

occurs when a firm relocates jobs abroad to nations closer to its domestic market

13

offshoring

the business practice of sending jobs to other countries; work that was previously carried out in one country is moved to another country

14

outsourcing

contracting outside the organization to have work done that formerly was done by internal employees

15

sustainability

doing business in a way that does as little harm to the environment and depletes as few natural resources as possible

16

what can understating HRM do for your firm?

understanding HRM practices and issues can help you better compete in the marketplace - as an employee, manager, or HR manager

an organization's success increasingly depends on the knowledge, skills, and abilities of its employees. to "compete through people," organizations have to do a good job of managing human capital: the knowledge, sills, and capabilities that have value to organizations

17

how is globalization requiring HRM personnel to respond?

it influences the number and kinds of jobs that are available

and requires that organizations balance a complicated set of issues related to managing people working under different business conditions in different geographies, cultures, and legal environments

the fast pace of globalization along with corporate scandals over the years has led to a new focus on corporate social responsibility and sustainability . companies are finding that having a good reputation for pursuing these efforts can inhale their revenues and improve the caliber of talent they are able to attract

18

what transition are HRM personnel having to manage as it pertains to changing work demands?

technology has tended to reduce the number of jobs that require little skill and to increase the number of jobs that require considerable skill, a shift we refer to as moving from touch labor to knowledge labor

19

how are HRM personnel maximizing productivity in the workplace?

productivity is "output gained from a fixed amount of inputs." organizations can increase their productivity either by reducing their inputs (the cost approach) or by increasing the amount that employees produce by adding more human and/or physical capital to the process

to maximize productivity and contain costs, organizations have to manage the size of their workforces (offshoring, near shoring, outsourcing, downsizing, furloughing, using part-time employees, and leasing them from professional employment agencies)

20

How are HRM personnel responding to the growing diversity of the workforce?

having to do more to address employee concerns and to maximize the benefit of different kinds of employees

HR managers have to keep abreast of the educational abilities of the talent available to their organization

21

what role do HR managers play when it comes to meeting challenges the firm faces?

they are called on for strategic advice and ethics counsels

various service activities

policy formulation and implementation

employee advocacy

22

what is the goal of HR?

to support companies in gaining a competitive edge through the following:
- bring in and retain top talent
- ensure employee rights
- build the company's reputation
- protect the company from legal issues
- prepare the company for future challenges

23

what are the functions of HR departments?

- job analysis
- HR planning (succession planning and organization charts)
- recruiting
- selection
- training and development
- performance management
- compensation
- benefits
- unions
- safety and health
- DOCUMENTATION

24

what do HR supervisors do?

- help define jobs
- motivate, with support from pay, benefits, and other rewards
- forecast HR needs
- communicate policies
- provide training
- interview and select candidates
- appraise performance
- recommend pay increases and promotions

25

what are three types of HR challenges?

environmental (internet revolution/legal issues/downsizing)

organizational (teams/downsizing/evaluating HR results)

and individual (attraction/retention/productivity/stress and work-family balance)

HR DEALS WITH THESE ON A DAILY BASIS

26

hot topics and trends in HRM

- training, faster pacing, and virtual teams
- technology development
- globalization
- diversity

the aging workforce are retiring (gen X and baby boomers) and the markets are experiencing a shortage of talent

this has opened the door to some age-related harassment in the workplace with many employees of large companies being older

27

globalization in HRM

due to globalization, firms have to balance a complicated set of issues

- different geographies, including different cultures, employment laws, and business practices, and the safety of employees and facilities abroad

the internet and social media have created more informed workforces around the world, which makes people harder to retain when opportunities to work have never been more public

28

HRM and maximizing productivity

the US remains the world's most productive country

outputs gained from a fixed amount of inputs

29

managing the size of the workforce

part of managing productivity is matching the size of the workforce to the demand and requirements of a firm given technology, the firm's strategic direction, and global competition

can be achieved through:
- offshoring
- outsourcing
- nearshoring
- homeshoring
- furloughing

30

managing pay and benefits in HRM

most firms closely monitor employee pay and benefit programs. skyrocketing health care costs and complying with the nation's new health care reform laws (obamacare), are perhaps the biggest concerns companies are facing when it comes to compensation and benefits

they can manage benefits through employee leasing