Human Resource Management Questions and Answers 100% correct

Human Resource Management Questions and Answers 100% correct Human Resource Management The process of managing human resources to achieve an organization's objectives Human Capital Knowledge, skills, and capabilities of individuals that have economic value to an organization How Companies Utilize Human Capital 1. Designing new ways to acquire and utilize employees 2. Measuring effectiveness 3. helping managers enter new markets 4. Attract top talent with better benefits TQM The process of modifying all aspects of an organization to improve long-term success through customer satisfaction Six Sigma A systematic approach that uses statistical methods to translate customer needs into separate tasks and to define the best way to perform them 7 Challenges 1. Changes in marketplace and economy 2. Globalization 3. Technology 4. Cost containment 5. Demographic and diversity challenges 6. Social responsibility and sustainability 7. Educational and cultural shifts Employee Concerns 1. Job security 2. Healthcare issues 3. Age and generational work issues 4. Retirement issues 5. Gender issues 6. Educational levels 7. Employee rights 8. Privacy issues 9. Work attitudes 10. Family concerns Jobs of HR 1. Planning 2. Recruitment 3. Staffing 4. Job design 5. Training/development 6. Appraisal 7. Communications 8. Compensation 9. Benefits 10. Labor relations Change Management Helps to keep employees focused on the success of the business Types of Changes 1. Reactive 2. Proactive How to Be Successful in Change 1. Link change to business strategy 2. Show how change creates quantifiable benefits 3. Engage key employees, customers and their suppliers early when making a change 4. Make an investment in implementing and sustaining change Importance of Change Management Ensures that the company will continue to be successful through changing markets, technologies and etc. Globalization Trend toward opening up foreign markets to international trade and investment Globalization's impact on HRM 1. Dealing with different cultures, employment laws and business practices 2. Safety of employees and facilities abroad 3. Gauging knowledge and skill base of workers worldwide and how to best train them 4. Relocating managers and training foreign managers Roles of HR Managers 1. Strategic advice and counsel 2. Service 3. Policy formulation and implementation 4. Employee advocacy Competencies of HR Managers Require 1. Business mastery 2. HR mastery 3. Personal credibility