SHRM-CP 2023 Exam Graded A+

SHRM - Answer Society for Human Resource Management What is Business Acumen? - Answer How an Organization decides to deal with a business situation to drive the best outcomes. -knowledge of the most profitable aspects of the business -understanding of cash flow and the current market situation -thorough understanding of the respective business niche Significance of Business Acumen - Answer -helps HR bring more value to the company -HR can assure management they understand and can deal with challenges the business faces -HR can create an environment to boost productivity while keeping employees satisfied and treating them as equals HR Professionals' role - Answer To bridge the gap between senior management and the workforce, effectively communicating messages to employees Why is it important to understand the business? - Answer -create long term strategies that align with the businesses goals and objectives -hire the right people with relevant skills to bring rewarding outcomes for the business in the future How to develop business acumen - Answer -understanding the finances -getting familiar with the current business strategy -understanding the business environment Developing business acumen - understanding the finances - Answer Understand the financial standing of the business, financial statements, cash flow, balance sheets. To make a decision making process easier and more streamlined Developing business acumen - getting familiar with the current business strategy - Answer Makes it easier for HR professionals to make strategic decisions that benefit management and employees Developing business Acuman - understanding the business environment - Answer - Rotating managers to become familiar with all aspects of the business - understand finances, how a business operates, customers' expectations - Keep up with the news, social media, industry publications, and business competitors Improving HR Communication - Answer The way a business chooses to engage with its HR Success of an organization depends on - Answer the satisfaction of its employees Effective HR communication - Answer Boosts Employee morale and helps employees be more productive and committed to their jobs - training - info on salaries, wages, benefits, company news, etc Effectively plan internal communication - Answer -long term strategies to increase productivity and improve communication Create the strategy by: -understanding how company operates, learn what employees expect from management -setting clear/achievable goals, will improve engagement and make employees' roles more interesting to them -effective communication channels, intranet, apps - plan which information will be shared internally Implement All-Inclusive Communication System - Answer HRIS that contains necessary information about the workforce, documents, salaries, contract details, employment history personal information. Makes it easy for employees to access their information Improve HR communication by - Answer -effectively plan internal communication -implement an all inclusive communication system -create an environment that encourages face-to-face communication -Plan your strategies while focusing on the companies culture -creating an effective plan to welcome new employees on board Create an environment that encourages face-to-face communication - Answer Replace an email for face-to-face communication is crucial for trust Plan your strategies of focusing on the company's culture - Answer And effective HR strategy Aligns the employees' goals with a company's goals Creating an effective plan to welcome new employees on board - Answer HR needs to help new employees with information to exponer rolls, tools to make them more comfortable, confidence to use their creativity to produce outstanding results for the company. How does HR consultation work? - Answer - Business management skills -ability to work independently -ability to manage the office, customers, and business finances -ability to market the business What do clients look for an an HR consultant? - Answer Someone who has breakfast Apple organizations, can boost productivity, neutral in their stance to resolve issues, stay current and latest market trends Aspects of HR consultation - Answer -business management -areas of focus -work environment -marketing consultation services -documentation -critical evaluation Hr consultation: business management - Answer -choose area of expertise -market segments to target -legal aspects -working independently or with teams -numbers -administrative functions -licensing requirements Hr Consulation: choosing area of expertise - Answer Specialized aspects of HR services for all inclusive Hr consultation: market segments to target - Answer Specific industry or region Hr consultation: Legal Aspects - Answer Legal structure of company and legal issues their company may have to face Hr consultation: Administrative functions - Answer Tax collection, Invoice management, and legal or financial issues Hr consultation: licensing requirements - Answer HR should be familiar with the laws and regulations that come along with HR consultant licensing Hr consultation: potential areas of focus - Answer Hr can offer a wide range or more niche specific. Niche attracts a wider range of clients. Can offer day to day support as well Hr consultation: marketing consultation services - Answer Using word of mouth referral, website, social media Hr consultation: documentation - Answer Agreements and contracts should be documented and should include. -detailed services to be performed by HR professional -deadline for the completion of services -be charged by HR consultant for services provided Purpose of Critical Evaluation - Answer Key player in developing and implementing consultative services to align with business goals - assessing The bigger picture -approach to problem solving - evaluating decision quality -implementing a Critical evaluation when necessary Critical Evaluation: assessing the bigger picture - Answer Observe the pros and cons of each available option Critical Evaluation: problem solving - Answer Increases HR professionals' confidence in their problem-solving approach, making decisions easier Critical Evaluation: evaluating decision quality - Answer Evaluate the quality of their decisions by narrowing down choices to compare with each other. Assess which option works best for the company, rule out assumptions and biases Critical Evaluation: implementing critical evaluation when necessary - Answer -Sometimes you have to be spontaneous when to a decision - overcome biases to stay curious and accept different possibilities -collect the right data to make effective decisions -set a deadline to find the solution then evaluate it Ethical practice - Answer Integrating common morale values into every day business practices. -train employees to weigh matters in moral principles Cultural effectiveness - Answer The ability to value and Consider the perspectives and backgrounds of all parties you are working with Importance of ethical practice through cultural effectiveness - Answer -accepting of all cultures, religion, and beliefs -better and more successful customer interaction -and honest and reliable company image -environmental protection Acceptance of all cultures, religions, and beliefs - Answer Increases the efficiency of the firm by keeping up employee morale. Being accepted makes employees more loyal to the company Honest and reliable company image - Answer Current investors will be loyal but also works as a marketing strategy to attract new investors Environmental protection - Answer Investing in eco-friendly projects Tips on Ethical Practice - Answer -keep records confidential - highlight consequences of actions -stay up to date with rules and regulations -be selective about managerial positions -highlight diversity and inclusion Tips on cultural effectiveness - Answer -appreciating differences: employees work harder, hybrid marketing to target niche demographics -encouraging personal growth: trainings on self-awareness -reducing generational gap: involve everyone in projects to lead to more innovation -assigning cultural educators: to teach skills required for interacting efficiently with different communities -encouraging adaptability: acceptance of change and ability to work around it (ethos is a firm) Leadership - Answer Social impact link between two or more people who rely on one other to achieve common goals. Focus on maintenance requirements (need for people to be accepted and strive to work together) and task needs (team wants to advance toward goal which creates team) Formal leader - Answer Person who is the group's official leader by those outside the group. Agent of the organization Informal leader - Answer Not chosen, person who has influence over team members despite not having recognized leadership position. Motivational Theories - Answer identify social factors that drive people to commit deviance and crime -goal set theory -expectancy -attribution -self determination Goal-set theory - Answer People will work better if they have demanding, defined, and agreed-upon performance goals or targets. People try to achieve the objectives they set for themselves, challenging goals produce greater results, if they create goals themselves then they are more likely to stick to them. goal commitment - Answer Degree to which people devote themselves to achieving a goal. Setting priorities is important Expectancy Theory - Answer The theory that people will choose the more appealing goal to maximize desirable results Attribution Theory - Answer The process by which a person perceives events as being generated by a specific component of a stable environment Self-determination theory - Answer A theory that explains what motivates people but also how extrinsic rewards influence intrinsic motivation. Extrinsic motivation is to do something to achieve the desired result. Intrinsic motivation is to do something for the sake of the activity itself. Inherently motivating - Answer Jobs are this when they meat at least one higher order needs: expertise, independence, or affiliation Situational Leadership - Answer A leadership theory based on the interplay among (1) the amount of task-related behaviors a leader exhibits; (2) the amount of relationship-related behaviors a leader exhibits; and (3) the level at which followers are mature enough to perform a specific task, function, or objective. -directive -coaching -supporting -delegating Directing Style - Answer reflects a high concern for tasks and a low concern for people and relationships. Most fundamental because it is used when an employee is new and the relationship does not exist yet. -high directive, low support - employees who are low capabilities but high commitment Coaching Style - Answer Dual-focus leader provides both task instruction and personal support as needed. Use this style when followers have moderate readiness because of confidence to proceed but lack ability. -High directive, high support -low to some competence, low commitment Supporting Style - Answer Leadership style that is high on supportive behaviors and low on directive behaviors for employees that are proficient in their work but not dedicated - low directive, high supportive - employees who are moderate/high competence with variable commitment Delegating Style - Answer the leader turns over responsibility for making and implementing decisions to followers. Employees are capable and empowered. -low directive, low support - high competence, high commitment Leadership Path Goal Theory - Answer Expectation theory motivates employees that are driven that their efforts will result in a great outcome, their sincere efforts will be recognized, or the rewards will be useful to them. Leaders produce happy/high performing employees that receive satisfaction and their performance is rewarded. directive leadership style - Answer -give explicit directions will encourage them to start working -when employees are confused about their jobs , path goal theory says this leadership style functions well -however if tasks are repetitive then this could foster a more confining atmosphere supportive leadership style - Answer -managers emotionally support employees -when employees are under a lot of stress to do repetitive work, compassionate leaders are better -when employees know how to perform but find them disagreeable participative leadership style - Answer -indirectly directing strategic choices for workers with a high internal locus of control (influence own fate) -highly skilled employees make choices that are personally important participative leadership style - Answer Style of leadership in which the leader involves subordinates in goal setting, problem solving, team building etc., but retains the final decision making authority. One of the four leadership styles identified in path-goal theory. Path-Goal Theory of Leadership Styles - Answer directive, supportive, participative, achievement oriented Achievement-oriented leadership style - Answer a leadership style in which managers set challenging goals, emphasize excellence, and seek continuous improvement. Employees will have elevated talent and high motivation Transformative - Answer Leaders align their goals with employees' goals, employees focus on the company success rather than personal success Use: -charisma -vision -intellectual stimulation -individualized consideration charisma - Answer A leader's ability to inspire trust and dedication in employees Vision - Answer Transformative leaders have a vision that inspires others intellectual stimulation - Answer Challenging corporate standards and the status quo, encouraging people to think imaginatively and work harder individualized consideration - Answer Leaders showing personal respect and compassion for their employees' well-being Transactional - Answer Employees will do their job in exchange for monetary benefits Contingent rewards - Answer Employees are awarded based on their achievements Active management - Answer Allows employees to execute their jobs without intervention while also anticipating potential issues and avoiding them Passive management - Answer A manager who waits until something bad happens before intervening Performance Collaboration - Answer Process through which managers assess job performance and individual performance rankings. Managers use consistent set of criteria when evaluating employees. Purpose is to reward top performers. Helps HR determine salaries, promotions, strategic planning, and use trainings when necessary. A specific period of time Ranking requirements - Answer Rate employee productivity then put them on a bell curve with particular percentages associated with forced rankings. Can generate productivity, but it might lead to employees believing the evaluation is rigged or unjust Talent Calibration - Answer Future-oriented to measure the general robustness of an organization's talent pool by potential, competencies, future organization's talent demands. Built on the foundation of performance calibration Performance Calibration - Answer -appraisal -calibration -feedback Appraisal - Answer -starts with performance evaluation, - managers evaluate a team, performance criteria, and model specifications -rating scale will be used to create appraisals -managers provide scores Calibration - Answer -finalized appraisals sent to HR -HR coordinates collaboration meetings with managers and execs to begin overview and analysis of overall organization, department statistics, and discuss personnel performance Feedback - Answer -managers should be well trained in organization's quality standards, how their team compares to others in and outside their team Influence: Rational approach - Answer Use of facts, evidence, and logical arguments to persuade people to your point of view. Clear, explicit, relevant, and timely in presenting actual facts Influence: personal appeal - Answer Requires rapport and communication between a leader and the people who are being persuaded. Leader asks for special favors, charm and physical attractiveness play a big role Influence: forming coalitions - Answer A group of people working together to achieve a single goal. Can use peer pressure to achieve a goal. Can be Unions. relationship management - Answer collection of activities that build and maintain ongoing, mutually beneficial ties with managers and employees. Stronger communication, collaboration, and cooperation Employee relationship management (ERM) - Answer Managing relationships in a business Types of conflict - Answer -goal conflict -cognitive conflict -affective conflict -behavioral conflict Goal conflict - Answer When you want a different conclusion than others, a battle over which objective will be pursued Cognitive conflict - Answer When you have ideas that are incompatible with others in the group. IE political arguments Affective Conflict - Answer When two people are unable to communicate or come to an agreement. One person's thoughts can be inconsistent with those of others Behavioral conflict - Answer Using vulgar language, inappropriately dressing, a person does something that is undesirable to others. Levels of conflict - Answer intrapersonal, interpersonal, intergroup, interorganizational Intrapersonal conflict - Answer conflict that arises within a person Interpersonal conflict - Answer conflict that occurs between two or more individuals Intergroup conflict - Answer conflict between different groups or teams interorganizational conflict - Answer conflict that occurs between two or more organizations in the same sector or even countries styles of conflict - Answer -keeping the conflict at bay -conceding -defending yourself -compromising -collaborating Keeping the conflict at bay - Answer Pretending nothing is wrong, backpedaling, shutting down Conceding - Answer Acknowledging their point of view, giving into the other party Defending yourself - Answer Competitive attitude, taking a stand, short term benefits but long-term consequences of prolongued conflict Compromising - Answer a situation in which each party to a conflict is willing to give up something. Speeds up resolution process Collaborating Conflict Style - Answer seeks joint resolution w/ best solution for all PROBLEM SOLVING LEAD BEST SOLUTION TIME CONSUMING - sub-optimization; group goal comes first and members collaborate; maintaining relationships important; time available; peer conflict Conflict Resolution techniques - Answer -staying away -accommodating -making concessions -competing -working together Staying away - Answer Avoiding message to ignore or dodge a problem, hoping it will resolve on its own or disappear Accommodating - Answer Taking steps to address the other parties fears at the price of one's own wants Making concessions - Answer giving in to part of an opponent's objections or views; admitting an opponent is half right or that he has a valid concern. Compromising Competing - Answer a desire to satisfy one's interests, regardless of the impact on the other party to the conflict Working together - Answer Collaborating, solution that addresses all concerns Choosing the best method for resolving conflict - Answer -consequences for you or others if your desires are not met -ramifications of being more forceful -if there is a joint solution or not recruitment - Answer the process through which the organization seeks applicants for potential employment. -develop staffing strategies and projections first Talent Acquisition: internal factors - Answer -financial restrictions -employee unions -levels of production -increases or decreases in sales -plans for global expansion Talent Acquisition: external factors - Answer -rapid technological advances -amendments in legislation -unemployment rates -A change in the population -change in the distribution of population -competition recruitment strategy - Answer -staffing plan -questionnaires to make sure job analysis is correct -Job description and requirements -establish a bidding system for recruiting and evaluating internal candidates for possible promotions -most effective recruitment methods for the post -Create a recruitment strategy Job Analysis - Answer Determining what tasks people do at work, ensures the job and employee are a good fit. Research by assessing current employees' job duties, reading job descriptions at other firms, and adding additional responsibilities they could do in the role. job description - Answer a written description of the basic tasks, duties, and responsibilities required of an employee holding a particular job job specification - Answer describes the minimum qualifications a person must have to perform the job successfully