Expert answer:Research paper 12 to 15 pages
Expert answer:Topic: Human Resource Management – Attracting and Retaining the Best EmployeesKey Points:
Discuss the objectives, the process, and the scope of marketing.Identify the role of the customer in marketing.Explain each element of marketing strategy.Describe the consumer and business decision-making process.Discuss the key elements of marketing research.Explain the roles of social responsibility and technology in marketing.
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Attracting and
Retaining the Best
Employees
99
Foundations of Business, 4th ed., by Pride/Hughes/Kapoor
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Objectives
① Describe the major components of human
resources management.
② Identify the steps in human resources
planning.
③ Describe cultural diversity and understand
some of the challenges and opportunities
associated with it.
④ Explain the objectives and uses of job
analysis.
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
2
Learning Objectives (cont’d)
⑤ Describe the processes of recruiting,
employee selection, and orientation.
⑥ Discuss the primary elements of employee
compensation and benefits.
⑦ Explain the purposes and techniques of
employee training and development.
⑧ Discuss performance appraisal techniques
and performance feedback.
⑨ Outline the major legislation affecting human
resources management.
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
3
Human Resources Management (HRM):
An Overview
All the activities involved in acquiring, maintaining,
and developing an organization’s human resources
HRM Activities
• Human resources planning
– Determining the firm’s human resource needs
• Job analysis
– Determining the exact nature of the positions
• Recruiting
– Attracting people to apply for positions
• Selection
– Choosing and hiring the most qualified applicants
• Orientation
– Acquainting new employees with the firm
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
4
Human Resources Management (HRM):
An Overview (cont’d)
Maintaining
• Employee relations
– Increasing employee job satisfaction through satisfaction
surveys, communication programs, exit interviews, and fair
treatment
• Compensation
– Rewarding employee effort through monetary payments
• Benefits
– Providing rewards to ensure employee well-being
Development
• Training and development
– Teaching employees new skills, new jobs, and more effective
ways of doing their present jobs
• Performance appraisal
– Assessing employees’ current and potential performance levels
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
5
Human Resources Management (HRM):
An Overview (cont’d)
Responsibility for HRM
• Shared responsibility of line managers and
staff HRM specialists
• Staff specialists develop specific HR
activities (e.g., training and development)
and deliver them with the assistance and
input of line managers
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
6
Human Resources Planning
The development of strategies to meet a
firm’s future human resources needs
Forecasting human resources demand
• Factors affecting HR demand
– The firm’s overall strategic plan
– The firm’s past history of staffing levels
– Evolving technologies
– Industry staffing practices
– Projected economic trends
• HR staff determine both the number of
employees needed and their qualifications
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
7
Human Resources Planning (cont’d)
Forecasting human resources supply
• Factors affecting HR supply
– The firm’s present workforce and any internal
changes or movements
• Supply forecasting techniques
– Replacement chart
– List of key personnel and their possible replacements
within the firm
– Skills inventory
– Computerized data bank containing information on the
skills and experience of all present employees
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
8
Human Resources Planning (cont’d)
Matching supply with demand
• If demand is greater than supply, then the firm must
recruit and select new employees
• If supply is greater than demand, then the firm must
prepare plans to reduce the workforce through
– Layoffs: dismissing employees from the workforce until
they are needed again
– Attrition: normal reduction of the workforce that occurs
when employees leave the firm
– Early retirement: allowing or encouraging persons to
retire early with full benefits
– Firing may be necessary to remove excess employees
from the workforce
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
9
Cultural Diversity in Human Resources
Differences among people in a workforce owing to race,
ethnicity, and gender
Advantages of diversity
• Cost savings from properly managing and integrating diversity
into the company
• Attracting the best personnel
• Marketing advantages due to a better understanding
of different cultural groups
• Improved creativity
• Increased organizational flexibility in the placement
of personnel
• Fresh viewpoints for problem solving and decision making
• Bilingual skills bring numerous benefits to the organization
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
10
Cultural Diversity in Human Resources (cont’d)
Coping with diversity challenges
• Train and educate managers to respect and
manage diversity
• Recruit minority employees and train them to be
managers
• Train managers to view diversity positively
• Teach English as a second language
• Facilitate support groups for immigrants
• Have a strong commitment from upper
management to diversity goals for the organization
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
11
Job Analysis
A systematic procedure for studying jobs to
determine their various elements and requirements
Job description
• A list of the elements that make up a particular job
– Duties to be performed, working conditions, the jobholder’s
responsibilities, the tools and equipment used on the job
Job specification
• A list of the qualifications required to perform a
particular job
– Skills, abilities, education, and experience
Used for recruiting, selecting, evaluation, and
compensation decisions
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
12
Recruiting, Selection, and Orientation
The process of attracting qualified job applicants
Goal is to attract the “right” number of applicants
External recruiting
• Sources
– Websites, newspaper ads, employment agencies, college
campuses, employee referrals, open houses, walk-in
applicants
• Advantages
– Fresh perspectives and varied backgrounds of new hires
– Attracting applicants with the required skills and
knowledge
• Disadvantages
– Expense
– May cause resentment among existing employees
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
13
Recruiting, Selection, and Orientation (cont’d)
Internal recruiting
• Promotion or transfer
• Job posting may be required by policy
or union contract
• Advantages
– Provides motivation for current employees
– Helps retain quality personnel
• Disadvantages
– Cost of filling the newly vacant position
– Cost of training another employee
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
14
Recruiting, Selection, and Orientation (cont’d)
Selection
• The process of gathering information about
applicants and then using that information to
choose the most appropriate applicant
Employment applications
• Provide useful factual information about the
applicant
• Information gathered is used for
– Identifying applicants worthy of further scrutiny
– Familiarizing interviewers with applicant
backgrounds
• Often include résumés
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
15
Recruiting, Selection, and Orientation (cont’d)
Selection (cont’d)
Employment tests
• Focus on aptitude, skills, abilities, and knowledge
relevant to the job
• For a test to be nondiscriminatory, it must be jobrelated and validated as an accurate predictor of
job performance
Interviews
• The most widely used selection technique
• Opportunity for applicants and the firm to learn
more about each other
• For interviews to be nondiscriminatory, a structured
interview format is recommended
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
16
Interview Questions That May Be
Difficult to Answer
Table 9-2
Sources: Adapted from
Susan D. Greene and
Melanie C. L. Martel, The
Ultimate Job Hunter’s
Guidebook, 5th ed.
Copyright © 2008 by
Houghton Mifflin
Company, pp. 196–197.
Used with permission.
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
17
Recruiting, Selection, and Orientation (cont’d)
Selection (cont’d)
References
• Used to verify information furnished by the
applicant about previous job responsibilities and
the reason for leaving their previous job
Assessment centers
• Used to select current employees for promotion to
higher-level management positions
• Employees participate in simulated management
activities and are observed and evaluated by other
senior managers
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
18
Recruiting, Selection, and Orientation (cont’d)
Orientation
• The process of acquainting new employees
with an organization
• May be brief and informal or long and formal
Topics
• Range from location of company cafeteria to
career paths within the firm
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
19
Compensation and Benefits
Effective employee reward systems must
• Enable employees to satisfy their basic
needs
• Provide rewards comparable to those
offered by other firms
• Be distributed fairly in the organization
• Recognize that different people have
different needs
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
20
Compensation Decisions
Compensation
• The payment employees receive in return for their
labor
Compensation system
• The policies and strategies that determine
employee compensation
Wage level
• The firm’s choice to position its general level of pay
at, above, or below the market (prevailing wage) for
an industry or a geographic area
– Wage survey—a collection of data on prevailing wage
rates within an industry or geographic area
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
21
Compensation Decisions (cont’d)
Wage structure
• The internal compensation structure that sets the
relative pay levels for all the positions in the firm
• Job evaluation—the process of determining the
relative worth of the various jobs within a firm
– Ranking jobs according to their value to the firm
– Job analysis using a point system to value jobs
Individual wages
• Decisions on specific wage payments to individual
employees are based on
– The wage range for the job
– The individual’s proficiency, experience, and performance
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
22
Compensation Decisions (cont’d)
Comparable worth
• A concept that seeks equal compensation
for jobs requiring about the same level of
education, training, and skills
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
23
Types of Compensation
Hourly wage
• A specific amount of money paid for each hour of work
Salary
• A specific amount of money paid for an employee’s work during
a set calendar period, regardless of the number of hours worked
Commission
• A payments that is a percentage of sales revenue
Incentive payment
• A payment in addition to wages, salary, or commissions such as
gain sharing for exceeding goals or quotas
Lump-sum salary increase
• An entire pay raise taken in one time in one lump sum
Profit sharing
• The distribution of a percentage of a firm’s profit among
its employees
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
24
Employee Benefits
Rewards in addition to regular compensation that are provided
indirectly to the employee
Types of benefits
• Pay for time not worked
– Vacation time, holidays, and sick leave
• Insurance packages
– Health, life, and dental insurance
• Pension and Retirement programs
– Costs may be shared or fully paid by the employer
• Required by law
– Workers’ compensation, unemployment insurance, and Social Security
• Other benefits
– Tuition-reimbursement, credit unions, child care, company cafeterias,
exercise rooms, stock-options, special benefits to U.S. military reservists
called to active duty
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
25
Employee Benefits (cont’d)
Flexible benefits plan
• Compensation plan whereby an employee receives
a predetermined amount of benefit dollars to spend
on a package of benefits he or she has selected to
meet individual needs
• Administration cost is high but deemed justified
– More specifically meet employees’ needs
– Help company contain costs in the long run
– Company is perceived to be employee friendly thereby
being in a better position to attract and retain qualified
employees
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
26
Training and Development
Employee training
• The process of teaching operations and technical
employees how to do their present jobs more
effectively and efficiently
Management development
• The process of preparing managers and other
professionals to assume increased responsibility in
both present and future positions
Development of a training program
• Analysis of the needs
• Determination of training and development methods
• Creation of evaluation system to assess the
program’s effectiveness
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
27
Analysis of Training Needs
Is training needed?
What types of training are needed?
• Improve technical skills
• Focus on organizational procedures,
business ethics, product information,
customer service
Is motivation needed?
Training is expensive; be sure it is
appropriate
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
28
Training and Development Methods
On-the-job
• New employee learns by working under the supervision of
experienced employee
Simulation
• Training in an area that replicates the actual work
environment without the day-to-day pressures
Classroom teaching and lectures
• For large groups who need the same information
(e.g., notification of change in benefits)
Conferences and seminars
• Experts and learners meet to discuss problems and
exchange ideas
Role playing
• Acting out the roles of others in the organization for a
better understanding of those roles
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29
Evaluation of Training and Development
Before training, develop a set of verifiable
objectives that specify what is expected
and how the results are to be measured
Measure or verify training results
Make the results known to all those
involved in the program—including
trainees and upper management
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30
Performance Appraisal
The evaluation of employee’s current and
potential levels of performance to allow
managers to make objective human
resource decisions
Uses of performance appraisal
• Let workers know how they are doing and
how they can do better
• Provide the basis for distributing rewards
• Help the organization monitor employee
selection, training, and development
activities
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
31
Common Evaluation Techniques
Objective methods
• Their basis is a measurable quantity (e.g., units of
output, sales volume, number of defective
products).
Judgmental methods
• Managerial estimates of employee performance
levels
• Ranking
– Ordering employees from best to worst
– Difficult to use because there is no absolute standard
• Rating
– Using a predetermined scale (standard) to evaluate each
employee’s performance
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
32
Common Evaluation Techniques (cont’d)
Avoiding appraisal errors
• Use the entire evaluation instrument; avoid
focusing on one portion
• Do not let an employee’s poor performance
in one area influence the evaluation of other
areas of performance
• Evaluate the entire performance period and
not the most recent behaviors of the
employee
• Guard against any form of personal bias or
discrimination in the evaluation
Copyright ©2015 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
33
Performance Feedback
Performance appraisal information should be
provided to employees
Approaches to performance feedback
• Tell-and-sell
– Superior tells the employee how well or poorly the
employee is performing and attempts to persuade the
employee to accept the evaluation
– Supervisor tells the employee about his or her
performance and then gives the employee a chance to
respond
• Problem-solving approach
– Employee evaluates own performance and sets …
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