WGU C202 Managing Human Capital | 536 Questions And Answers graded A+

progressive discipline using increasingly severe measures when an employee fails to correct a deficiency after being given a reasonable opportunity to do so verbal, written, suspension w/o pay, discharge Not communicating a performance plan, a lack of accountability and human biases and errors Three most common obstacles to effective performance management performance plan describes desired goals and results, how results will be measured and weighted and standards will be used to evaluate results accountability an individual is expected to provide a regular accounting to a superior about the results of what she or he is doing and will be held responsible for the outcome contrast effect over-or under-rating someone base on a comparison with someone else first impression bias initial judgements influence later assessments allowing recent events and performance to have a disproportionately large influence on the rating high potential error confusing potential with performance halo effect letting one positive factor influence assessments of other areas of behavior or performance horns effect letting one negative factor influence assessments of other areas of behavior or performance similar-to-me effect giving high ratings to someone because she or he is perceived as being similar to the later leniency error all employees are given high ratings regardless of performance central tendency rating all employees in the middle of the scale regardless of performance stereotype believing that everyone in a particular group shares certain characteristics or abilities or will behave in the same way opportunity bias ignoring factors beyond the employee's control that influence his/her performance competitive advantage doing something differently from the competition that leads to outperformance and success human resource management the organizational function responsible for attracting, hiring, developing, rewarding and retaining talent staffing the process of planning, acquiring, deploying and retaining employees that enables an organization to meet its talent needs and to execute its business strategy total rewards the sum of all of the rewards employees receive in exchange for their time, efforts and performance direct financial compensation compensation received in the form of salary, wages, commissions, stock options or bonuses indirect financial compensation all the tangible and financially valued rewards that are not included in direct compensation, including free meals, vacation time and health insurance nonfinancial compensation rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment Strategic risk, Operational risk, Financial risk and Compliance risk Managing human resources strategically helps organizations manage four types of risk: business strategy defines how a firm will compete in its marketplace talent philosophy a system of beliefs about how an organization's employees should be treated human resource strategy links the entire human resource function with the firm's business strategy global mindset a set of individual attributes that enable you to influence individuals, groups and organizations from diverse socio/cultural/institutional systems superior value for their money To have a competitive advantage, a company must ultimately be able to give customers ____________. Employee Handbooks