Human Resource Management Chapter Ten Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written.

Human Resource

Management

Chapter Ten

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Learning Objectives

LO 1 Discuss how companies use human resources management to gain competitive advantage.

LO 2 Give reasons companies recruit both internally and externally for new hires.

LO 3 Identify various methods for selecting new employees.

LO 4 Evaluate the importance of spending on training and development.

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Learning Objectives (cont.)

LO 5 Explain alternatives for who appraises an employee’s performance.

LO 6 Describe the fundamental aspects of a reward system.

LO 7 Summarize how unions and labor laws influence human resources management.

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Human Resource Management

Human resources management (HRM) Formal systems for

the management of people within an organization.

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Strategic Human Resources Management

Human capital The knowledge,

skills, and abilities of employees that have economic value.

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An Overview of the HRPlanning Process

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Figure 10.1

The HR Planning Process

Job analysis A tool for

determining what is done on a given job and what should be done on that job.

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Advice on Termination

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Table 10.1

Training and Development

Training Teaching lower-level

employees how to perform their present jobs.

Development Helping managers

and professional employees learn the broad skills needed for their present and future jobs.

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Training and Development

Needs assessment An analysis

identifying the jobs, people, and departments for which training is necessary.

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Types of Training

Orientation training Training designed to introduce new employees to

the company and familiarize them with policies, procedures, culture, and the like

Team training Training that provides employees with the skills

and perspectives they need to collaborate with others.

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Performance Appraisal

Management by objectives (MBO) A process in which objectives set by a

subordinate and a supervisor must be reached within a given time period.

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Performance Appraisal

360-degree appraisal Process of using multiple sources of appraisal to

gain a comprehensive perspective on one’s performance

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Factors Affecting the Wage Mix

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Figure 10.6

Determinants of UnionVoting Behavior

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Figure 10.8