Define HUMAN RESOURCE MANAGEMENT
consists of the activities managers perform to plan for, attract, develop, and retain an effective workfoce.
Define STRATEGIC HUMAN RESOURCE PLANNING.
Consists of developing a systematic, comprehensive strategy for understanding current employee needs and predicting future employee needs.
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
Define HUMAN CAPITAL
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
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
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.
Define JOB DESCRIPTION
summarizes what the holder of a job does, and why they do it.
Define Job Specification
describes the minimum qualifications a person must have to perform the job successfully.
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
process of locating and attracting qualified applicants for jobs open in the organization.
Define Internal recruitment. List some advantages and disadvantages.
Making people already employed by the organization aware of job openings.
- -employees more inspired
- -more loyal
- -morale enhanced
- -working hard can lead to more opportunities
- -recruitment is cheaper
- -fewer risks
- -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
Define EXTERNAL RECRUITING. list advantages and disavantages