Human Resources

Analyzing and designing jobs, recruitment and selection, training and development, managing/measuring performance, planning and administering pay and benefits, maintaining positive employee relations, talent management, human resource planning, risk management, change management - correct answers10 HRM functions analyzing jobs - correct answersthe process of getting detailed information about an existing job, learning how an existing job is performed. Knowing who to recruit, what training is needed, how much to pay, what technology is needed designing jobs - correct answersthe process of defining the way work will be performed. Defining the tasks that a new or a given job will require recruitment - correct answersthe process through which the organization seeks applicants for potential employment selectment - correct answersthe process by which the organization attempts to identify "fitting" applicants training - correct answersenables workers to learn current job-related skills development - correct answersenables workers to acquire more general skills (e.g. teamwork skills, decision making) managing performance - correct answersthe process of ensuring employees outputs meet expectations talent management - correct answersattracting, retaining, developing, and motivating highly skilled employees and managers human resource planning - correct answersidentifying the number and types of employees the organization will require to meet its goals risk management - correct answersconcerned with employees physical and mental well-being change management - correct answershelp workers adapt to organizational changes HRM goal - correct answersvalue creation and strategically utilizing human capital for the firm, under certain constraints (taking into account all stake-holders) value - correct answersprofit, revenue human capital - correct answersrefers to people as resources, refers to people's potential value to the firm, refers to people's assets or qualities. (the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value) quality of human capital - correct answersindicates the potential value to the firm quality of people - correct answersindicates the potential value to society what does HR care about - correct answerspotential value to the firm, the potential services provided by the people stake-holders - correct answersthose involved with the firms activities (employees and their families, government, customers, partners and investors, community) stake-holders needs - correct answersconstraint human capital value creation how can stakeholders get in the way of value creation - correct answersemployees (want home early, increased pay, long breaks), government (wants taxes, equal opportunity laws, regulations), customers (want to buy cheap, high-quality service...demands) top employee development skills - correct answersteamwork skills, verbal communication skills, decision making, problem solving, planning/prioritizing tasks pay more - correct answersattraction factor and keeping the best people pay less - correct answersstrongly affects the company's "bottom line"