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Introduction To Business > Chapter 9 (Attracting and Retaining the Best Employees) > Flashcards

Chapter 9 (Attracting and Retaining the Best Employees) Flashcards

(45 cards)

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1
Q

Define Human Resources Management:

A

Human Resources Management: All activities involved in acquiring, maintaining and developing a company’s human resources

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2
Q

What are the 5 steps in Acquiring Human Resources?

A

Acquiring Human Resources:

  1. Planning
  2. Job Analysis
  3. Recruiting
  4. Selecting
  5. Orientation
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3
Q

Define Planning:

A

Planning: the development of strategies to meet the future needs regarding human resources

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4
Q

What are the 3 steps in Planning?

A

Steps in Planning:

  1. Forecast the Demand for Human Resources
  2. Forecast the Supply for Human Resources
  3. Match Supply with Demand
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5
Q

What are the techniques for Forecasting the Supply of Human Resources?

A

Forecasting the Supply for Human Resources:

  1. Replacement Chart: a list of key personnel and their possible replacements in a company
  2. Skills inventory: a computerized data bank containing information on the skills and experiences of all present employees
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6
Q

What are the 4 methods to reduce the workforce?

A

Ways to Reduce the Workforce:

  1. Firing (direct): removal due to individual employees’ actions
  2. Layoff (direct): removal due to company; requires immediate monetary compensation for all unspent vacation time.
    * Note: A company’s decision to layoff employees more often results in either a net loss or no change.
  3. Attrition (indirect): removal due to the deliberate choice to not replace after the loss of an employee
  4. Early Retirement: removal by encouraging early retirement
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7
Q

What are methods to Cope with Diversity Challenges?

A

Coping with Diversity Challenges:

  1. Facilitate support groups for immigrants to encourage managers to value diversity
  2. Recruit minority employees and train them to be managers
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8
Q

`Define Job Analysis:

A

Job Analysis: A systematic procedure for studying jobs

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9
Q

What is addressed in Job Analysis?

A

Job Analysis addresses Job Description and Job Specialization

  1. Job description: a list of the elements that make up the specific jobs (i.e. job responsibilities, conditions, equipment used)
  2. Job specialization: a list of the qualifications required to perform the specific job (i.e. skills, education, experience)
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10
Q

Define Recruiting:

A

Recruiting: the process of attracting qualified job applicants

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11
Q

What are the pros/cons of external recruiting vs. internal recruiting?

A

External Recruiting: the assessing and recruiting of available job candidates, outside of current employee pool, to fill and perform open positions in a company
Pros: offers fresh perspectives
Cons: expensive, possibility of causing resentment among existing employees

Internal Recruiting: the assessing and recruiting of current employees to fill and perform open positions in a company
Pros: motivates current employees and retains quality personnel
Cons: creates a cost to fill vacant position, creates the cost of training

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12
Q

Define Selecting:

A

Selecting: the process of gathering information from applicants and using the information to choose the most appropriate applicants

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13
Q

What are the 5 Methods of Selecting?

A

Methods of Selecting:

  1. Applications
    * Note: forbidden to ask for birth date, ethnicity, etc. that can create unfair biases
  2. Tests
    * Note: often repeats the same question in different forms to test for consistency
  3. Interviews
    * Note: the least scientific and consistent process, requires caution & thorough planning
  4. References:
    * Note: all references must be true or regardless of other factors, you’re fired!
  5. Assessment Centers:
    * Note: Simulations and role-playing that tests for your ability to handle stress
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14
Q

Define Orientation:

A

Orientation: the process of acquainting new employees, which can range from brief and informal to long and formal

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15
Q

What are the 3 Methods of Maintaining?

A

Methods of Maintaining:

  1. Compensation
  2. Benefits
  3. Relations
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16
Q

Define Compensation:

A

Compensation: the payment received in return for labor

*Note: temporary benefit and easily loses effectiveness after time

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17
Q

Define Compensation System:

A

Compensation System: The policies and strategies that determine employee compensation

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18
Q

What are the 3 Steps in Compensation System?

A

Steps in Compensation System:

  1. Wage Level
  2. Wage Structure
  3. Individual Wages
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19
Q

Define Wage Level:

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A

Wage Level: The company choice to position the general level of pay at, above, or below the market wage for the industry

20
Q

Define Wage Structure:

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A

Wage Structure: the internal compensation structure that sets the relative pay levels for the different employee positions

21
Q

Define Individual Wages:

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A

Individual Wages: The specific payments that the individual employee receives

22
Q

Define Comparable Worth:

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A

Comparable Worth: a concept that seeks equal compensation for jobs requiring about the same level of education, training and skills

23
Q

If an employee is making more than the wage structure, what are the company’s options?

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A

Inform employee and offer an ultimatum: (a) communicate to the employee to expect no or limited future raise (2) offer training to employee for a position so employee is qualified for future financial mobility

24
Q

What are the 5 Types of Compensation?

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A

5 Types of Compensation:

  1. Time-Based Wages (Hourly, Weekly, Monthly)
  2. Commissions (Minimum Salary + % of Commissions Earned)
  3. Incentive Payments (Salary Increases)
  4. Lump-Sum Payments (a single payment of money, as opposed to a series of payments made over time)
  5. Profit-sharing
25
What are Employee Benefits?
Employee Benefits: additional rewards provided indirectly 1. Paying for time not worked 2. Company cafeterias 3. Stock-option plans 4. Tuition-reimbursement plans 5. Child-care services 5. Health, life and dental insurance 6. Pension and retirement programs 7. Workers' compensation insurance 8. Unemployment insurance
26
What are the 3 questions asked for Training and Development?
1. Is it needed? 2. What type of training? 3. What is the cause?
27
What are the Methods for Training and Development?
1. On-the-job 2. Simulation 3. Classroom Teaching 4. Conferences & Seminars 5. Role-Playing
28
What are the uses and risks of a Performance Appraisal?
Uses: 1. Informs workers on current progress and suggests future goals 2. Provides basis for distributing awards 3. Helps monitor selection, training and development Risks: 1. Fear of workers' response to evaluation results in change of evaluation 2. Critique on personalities in evaluations results in deaf ears
29
What are the 5 Types of Performance Feedback:
Types of Performance Feedback: 1. Tell&Sell: evaluated by supervisor, attempts to persuade employee to accept 2. Tell&Listen: told by supervisor, gives employees a chance to respond 3. Problem-Solving: self-evaluated by employee and employee sets goals: supervisor often comments for mutually-established goals 4. Mixed Review: uses tell-and-sell process for administrative and problem-solving process for development and creating goals 5. 360-degree evaluation: evaluated by superiors, peers and subordinates
30
What is NLRB?
National Labor Relations Board (NLRB): Established by the National Labors Relations Act (1935); guarantees basic rights to employees to organize into unions and engage in collective bargaining and collective strike for better employee terms and conditions
31
What is the Taft Hartley Act?
Taft Hartley Act: also known as the Labor-Managment Relations Act, established in 1947 to balance union power and managment power through restricting the activities and power of labor unions
32
What is Fair-Labor Standards?
Fair Labor Standards: established in 1938, it established minimum wage and overtime pay rate *Note: managers are exempt
33
What is the Equal Pay Act?
Equal Pay Act: established in 1963, it aims to abolish wage disparity based on gender
34
What is Title VII of the (Civil Rights) Act? | *Note: EEOC
Title VII of the Act: executed by the Equal Employement Opportunity Commissions (EEOC) which was established by Title VII, prohibits discrimination based on sex, race, color, religion or national origin *Note: complaints of discrimination must be filed to the EEOC within 180 days
35
What is the Age Discrimination in Employment Act?
Age Discrimination in Employment Act (1967-1986): prevents discrimination against people aged 40 or older
36
What is the Occupational Safety and Health Act?
Occupational Safety and Health Act (1970): regulates the degree employees can be exposed to hazardous substances and specifies/reinforces safety equipment
37
What is the WARN Act?
Worker Adjustment and Retraining Notification (WARN): established in 1988; it requires a 60-day notice for employees regarding plant closure or layoff of >50 employees
38
What is the Employment Retirement Income Security Act?
Employment Retirement Income Security Act: established in 1974, it regulates company retirement programs and provides federal insurance programs for plans that go bankrupt
39
What is the Civil Rights Act?
Civil Rights Act: established in 1991, it facilitates lawsuits for sexual discrimination and collects punitive damages
40
What is the Americans with Disabilities Act?
Americans with Disabilities Act (1990): prevents discrimination against qualified job candidates with disabilities and requires reasonable accomandation
41
What is 401 (k)?
401 (k): retirement savings contributions are provided and matched by employer, deducted from employees paycheck before taxation, only accessible for age 59 1/2 and up
42
Define Reasonable Accommodation:
Reasonable Accommodation: modifications or adjustments in a work environment to enable qualified, disabled employees to perform a central job function *Note: situation-based, not black or white
43
What is the Family and Medical Leave Act?
Family and Medical Leave Act (1993): when a company has >50 employees, it is required to provided <12 weeks of leave without pay on birth (or adoption) of an employees' child or when his/her immediate family is ill
44
What is the Affordable Care Act?
Affordable Care Act (2010): for companies with >50 full-time employees, requires companies to make health insurance or provide assessment (gives employees the right to buy health insurance)
45
What is Affirmative Action?
Affirmative Action: (1) Requirements: >50 employees, employers hold federal contracts in excess of $50,000 (2) Employers are required to (1) actively encourage job applications from minorities and (2) hire qualified employees from minorities

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