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Define HUMAN RESOURCE MANAGEMENT
consists of the activities managers perform to plan for, attract, develop, and retain an effective workfoce.
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Define STRATEGIC HUMAN RESOURCE PLANNING.
Consists of developing a systematic, comprehensive strategy for understanding current employee needs and predicting future employee needs.
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List the STRATEGIC HUMAN RESOURCE MANAGEMENT PROCESS
- 1. Plan human resources needed
- 2. Recruit & Selecty People
- 3. Orient, train & Develop
- 4. Perform Appraisals of people
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Define HUMAN CAPITAL
INDIVIDUAL KNOWLEDGE
The economic or productive potential of Employee Knowledge and actions.
A present or future employee with the right combination of knowledge, skills, & motivation to excel represents HC with the potential to give the organization a competitive advantage
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Define SOCIAL CAPITAL
- INTERPERSONAL RELATIONSHIPS
- The economic or productive potential of strong, trusting and cooperative relationships.
Example: Smuckers: "Listen with your full attention, look for the good in others, have a sense of humor, and say thank you for a job well done." They have a 3% employee turnover rate
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Define JOB ANALYSIS
Determine the basic elements of a job by observation and analysis.
Example: US POSTAL SERVICE SENT SPECIALISTS TO RIDE WITH COURIERS AND NOTE WHAT PROBLEMS THEY ENCOUNTERED.
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Define JOB DESCRIPTION
summarizes what the holder of a job does, and why they do it.
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Define Job Specification
describes the minimum qualifications a person must have to perform the job successfully.
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What is the purpose of job analysis, job description, and job specification?
- Helps to avoid hiring over qualified people (more expensive)
- helps to avoid hiring under qualified ppl
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Define Recruitment
process of locating and attracting qualified applicants for jobs open in the organization.
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Define Internal recruitment. List some advantages and disadvantages.
Making people already employed by the organization aware of job openings.
- ADVANTAGES:
- -employees more inspired
- -more loyal
- -morale enhanced
- -working hard can lead to more opportunities
- -recruitment is cheaper
- -fewer risks
- DISADVANTAGES:
- -restricts competition for positions
- -limits fresh talent
- -limits fresh viewpoints
- -employees may assume that longevity/seniority results in promotion
- -creates a vacancy in the organization
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Define EXTERNAL RECRUITING. list advantages and disavantages
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