MIE 330 (Exam 1) 124 terms with Complete Solutions.
Human Resource Management (HRM) - ✔✔✔ - refers to policies, practices and systems
that influence employees' behaviors, attitudes and performance
- Many companies refer to HRM as involving "people practices."
- HR professionals have to be able to use and analyze data to make a business case for
ideas and problem solutions
- HRM may be the most important lever for companies to gain a competitive advantage
over both domestic and foreign competitors
High-Impact HR Functions - ✔✔✔ - more integrated with the business, skilled at helping
managers in attracting, building, engaging, and retaining talented employees
- They can adapt quickly to business needs and workforce changes, identify and promote
talent from within the company, and are continuously trying to identify what motivates
employees to help them grow and develop
- ensure that they are continuously building the talent and skills of HR professionals
necessary to help the company meet new competitive challenges
Effective HRM practices have been shown to relate to company performance by
contributing to: - ✔✔✔ 1. Employee and customer satisfaction;
2. Innovation;
3. Productivity; and
4. Development of a favorable reputation in the community in which the firm is located.
(HRM Practices) Analysis and Design of Work - ✔✔✔ Responsibilities of HR Department:
- Job analysis, work analysis, job descriptions
(HRM Practices) Recruitment - ✔✔✔ Responsibilities of HR Department:
- Recruiting, posting job descriptions, interviewing, testing, coordination use of temporary
employees
(HRM Practices) Selection - ✔✔✔ Responsibilities of HR Department:
- Recruiting, posting job descriptions, interviewing, testing, coordination use of temporary
employees
(HRM Practices) Training and Development - ✔✔✔ Responsibilities of HR Department:
- Orientation, skills training, development programs, career development
,(HRM Practices) Compensation and Benefits - ✔✔✔ Responsibilities of HR Department:
- Wage and salary administration, incentive pay, insurance, vacation, retirement plans,
profit sharing, health and wellness, stock plans
(HRM Practices) Performance Management - ✔✔✔ Responsibilities of HR Department:
- Performance measures, preparation and administration of performance appraisals,
feedback and coaching, discipline
(HRM Practices) Employee Relations - ✔✔✔ Responsibilities of HR Department:
- Attitude surveys, employee handbooks, labor law compliance, relocation and
outplacement services
Human resource generalist - ✔✔✔ - focuses on a wide range of human resource practices
Human resource specialist - ✔✔✔ - focuses on one or more HR issues (for example, hiring
or benefits)
- Large companies are more likely than small ones to employ HR specialists, with benefits
specialists being the most prevalent
- Other common specializations include recruitment, compensation, and training and
development
Shared service model - ✔✔✔ - refers to a way to organize the HR function that includes
centers of expertise and service centers, and business partners
- can help control costs and improve the business relevance and timeliness of HR
practices
- to ensure that human resources contributes to the company's competitive advantage
many HR departments are organized on the basis of a shared service model
Self-service - ✔✔✔ - is the process of giving employees control of HR transactions
- refers to giving employees online access to human resource information, or apps which
provide, information about HR issues such as training, benefits, compensation, and
contracts; enrolling online in programs and services; and completing online attitude
surveys
- The shift to self-service means that HR can focus more time on consulting with managers
on important employee issues and less time on day-to-day transactional tasks
Outsourcing - ✔✔✔ - refers to the practice of having another company (a vendor, third
party or consultant) provide services
, - An organization's use of an outside organization for a board set of services
- The most commonly outsourced activities include those related to benefits administration
(e.g., flexible spending accounts, health plan eligibility status), relocation, and payroll
- The major reasons that company executives choose to outsource human resource
practices include cost savings, increased ability to recruit and manage talent, improved HR
service quality, and protection of the company from potential lawsuits by standardizing
processes such as selection and recruitment
Administrative services and transactions - ✔✔✔ - first product line
- the traditional product that HR has historically provided
- compensation, hiring, staffing
- An emphasis is placed on resource efficiency and service quality
Business partner services - ✔✔✔ - second product line
- HR functions that top managers want HR to deliver
- developing effective HR systems and helping implement business plans, talent
management
- An emphasis is placed on knowing the business and exercising influence—problem
solving, designing effective systems to ensure needed competencies
Strategic services - ✔✔✔ - third product line
- HR functions that top managers want HR to deliver
- contributing to business strategy based on considerations of human resources, human
capital, business capabilities, readiness, and developing HR practices as strategic
differentiators
- An emphasis is placed on knowledge of HR and of the business, competition, the market,
and business strategies
Evidence-based HR - ✔✔✔ - refers to demonstrating that human resources practices have
a positive influence on the company's bottom line or key stakeholders (employees,
customers, community, shareholders)
- Evidence-based HR requires the use of data - from financial statements to employee
surveys in order to make decisions based upon hard evidence
Human Resource Management (HRM) - ✔✔✔ - refers to policies, practices and systems
that influence employees' behaviors, attitudes and performance
- Many companies refer to HRM as involving "people practices."
- HR professionals have to be able to use and analyze data to make a business case for
ideas and problem solutions
- HRM may be the most important lever for companies to gain a competitive advantage
over both domestic and foreign competitors
High-Impact HR Functions - ✔✔✔ - more integrated with the business, skilled at helping
managers in attracting, building, engaging, and retaining talented employees
- They can adapt quickly to business needs and workforce changes, identify and promote
talent from within the company, and are continuously trying to identify what motivates
employees to help them grow and develop
- ensure that they are continuously building the talent and skills of HR professionals
necessary to help the company meet new competitive challenges
Effective HRM practices have been shown to relate to company performance by
contributing to: - ✔✔✔ 1. Employee and customer satisfaction;
2. Innovation;
3. Productivity; and
4. Development of a favorable reputation in the community in which the firm is located.
(HRM Practices) Analysis and Design of Work - ✔✔✔ Responsibilities of HR Department:
- Job analysis, work analysis, job descriptions
(HRM Practices) Recruitment - ✔✔✔ Responsibilities of HR Department:
- Recruiting, posting job descriptions, interviewing, testing, coordination use of temporary
employees
(HRM Practices) Selection - ✔✔✔ Responsibilities of HR Department:
- Recruiting, posting job descriptions, interviewing, testing, coordination use of temporary
employees
(HRM Practices) Training and Development - ✔✔✔ Responsibilities of HR Department:
- Orientation, skills training, development programs, career development
,(HRM Practices) Compensation and Benefits - ✔✔✔ Responsibilities of HR Department:
- Wage and salary administration, incentive pay, insurance, vacation, retirement plans,
profit sharing, health and wellness, stock plans
(HRM Practices) Performance Management - ✔✔✔ Responsibilities of HR Department:
- Performance measures, preparation and administration of performance appraisals,
feedback and coaching, discipline
(HRM Practices) Employee Relations - ✔✔✔ Responsibilities of HR Department:
- Attitude surveys, employee handbooks, labor law compliance, relocation and
outplacement services
Human resource generalist - ✔✔✔ - focuses on a wide range of human resource practices
Human resource specialist - ✔✔✔ - focuses on one or more HR issues (for example, hiring
or benefits)
- Large companies are more likely than small ones to employ HR specialists, with benefits
specialists being the most prevalent
- Other common specializations include recruitment, compensation, and training and
development
Shared service model - ✔✔✔ - refers to a way to organize the HR function that includes
centers of expertise and service centers, and business partners
- can help control costs and improve the business relevance and timeliness of HR
practices
- to ensure that human resources contributes to the company's competitive advantage
many HR departments are organized on the basis of a shared service model
Self-service - ✔✔✔ - is the process of giving employees control of HR transactions
- refers to giving employees online access to human resource information, or apps which
provide, information about HR issues such as training, benefits, compensation, and
contracts; enrolling online in programs and services; and completing online attitude
surveys
- The shift to self-service means that HR can focus more time on consulting with managers
on important employee issues and less time on day-to-day transactional tasks
Outsourcing - ✔✔✔ - refers to the practice of having another company (a vendor, third
party or consultant) provide services
, - An organization's use of an outside organization for a board set of services
- The most commonly outsourced activities include those related to benefits administration
(e.g., flexible spending accounts, health plan eligibility status), relocation, and payroll
- The major reasons that company executives choose to outsource human resource
practices include cost savings, increased ability to recruit and manage talent, improved HR
service quality, and protection of the company from potential lawsuits by standardizing
processes such as selection and recruitment
Administrative services and transactions - ✔✔✔ - first product line
- the traditional product that HR has historically provided
- compensation, hiring, staffing
- An emphasis is placed on resource efficiency and service quality
Business partner services - ✔✔✔ - second product line
- HR functions that top managers want HR to deliver
- developing effective HR systems and helping implement business plans, talent
management
- An emphasis is placed on knowing the business and exercising influence—problem
solving, designing effective systems to ensure needed competencies
Strategic services - ✔✔✔ - third product line
- HR functions that top managers want HR to deliver
- contributing to business strategy based on considerations of human resources, human
capital, business capabilities, readiness, and developing HR practices as strategic
differentiators
- An emphasis is placed on knowledge of HR and of the business, competition, the market,
and business strategies
Evidence-based HR - ✔✔✔ - refers to demonstrating that human resources practices have
a positive influence on the company's bottom line or key stakeholders (employees,
customers, community, shareholders)
- Evidence-based HR requires the use of data - from financial statements to employee
surveys in order to make decisions based upon hard evidence
