AFM 131 Module 11 – Flashcards

A. The age composition of the labour force is becoming younger. B. Workers are becoming less loyal to their firms, resulting in higher turnover. C. Workers are now demanding that more of their compensation be in wages and salaries and less in fringe benefits. D. The number of workers who have received training in high tech fields far exceeds the number of job openings in these areas. Answer: B

• Changing demographics (baby boomers) • Undereducated/unprepared for jobs • Single-parent and two-income families • Shift in employee attitudes toward work • Economy (loss of jobs) • Overseas labour pools (labour standards) • Change in demand for benefits • Health care, elder care, child care, and opportunities for people with disabilities • Employee loyalty

- Mass retirements - Succession planning (how to replace those that leave the job) - Knowledge retention (when they leave, loss of job knowledge , need a way to pass it on)

1. Prepare human resource inventory 2. Prepare job analysis 3. Assess future human resource demand 4. Assess future human resource supply (talent pool available) 5. Establish strategic plan

• Assess training/development needs (knowledge gaps) • Succession planning (how to move people around the company)

• Job description (currentemployees and roles) • Job specification (desired attributes/ background)

• Do your employees - Have the right skills? - Have the ability to be trained? - Have the capacity? best to hire new people to support the growth of the company

• Internally and externally • Scan the environment (understand the challenges of each industry)

• Address all HRM activities - Where you are? (HR inventory, job analysis) - Where you want to be? (job supply) - How to get there? (HRM activity)

A. It is important for a firm to recruit and hire people who are not only skilled but who also fit in with the firm's culture and leadership style. B. Recruiting internally will almost always result in better qualified applicants than recruiting externally. C. Small firms generally have a strong advantage when it comes to recruiting. D. One advantage to using external sources when recruiting is that this approach tends to result in higher morale among the firm's existing employees. Answer: A

• Activities used to obtain a sufficient number of the right people at the right time - Pool of qualified applicants - Nature of the job ad - Challenges for small business

HR --> Selection --> Hiring --> Orientation/training

Process of gathering/reviewing information and deciding who to hire - Consider best interest of the company AND the individual (teamwork)

- Obtaining applications (online filtering) - Conducting initial/follow-up interviews - Conducting employment tests - Confirming background information - Establishing trial (probationary) periods

Interview logistics (scheduling) Interviewers = people who will train the new hire Think of situational interview questions. How to evaluate/ grade answers Use of employment tests How do you pick the best candidate? Opportunity to sell the role

A. An assembly line worker who belongs to a union and has 17 years of seniority. B. A worker hired to help work at a manufacturing plant for a few weeks during the firm's peak production season. C. An elementary school teacher who just received tenure. D. An electrical engineer who frequently travels out of the country to the various manufacturing facilities owned and operated by his firm. Answer: B

workers who do not have regular, full-time employment - Part-time workers - Temporary/seasonal workers (fill temp. needs ex. Maternity leave) - Co-op students cost effective (these workers are paid less • Less benefits • More flexibility

• Initiatives to improve productivity by increasing an employee's ability to perform • Training (short term skills vs. development (long term development • Should evaluate effectiveness of training

• Employee orientation • On-the-job training • Apprentice programs • Off-the-job training • Online training • Vestibule training (doing/practicing) • Job simulation

• Managers need special training - Communication, planning, and interpersonal skills - Human relation skills • Most management training programs include: - On-the-job coaching - Understudy positions - Job rotation - Off-the-job courses and training • Developing your emotional intelligence (EQ) - Focus- Develop your EQ - Finding the right balance = long term success

establishing/maintaining contacts to grow and develop

Corporate cultures should embrace diversity - Better serve customers (companies remain competitive) - Consider management positions (allow you to groom the best) • Consider Google - "We're expanding the ways we find and hire our next Googlers" - "We're making sure that Google is a fair and inclusive place to work - for everyone" - "We're bringing computer science education to more students, makers, and future Googlers" - "We're ensuring that all communities can access and benefit from the web"

A. write job descriptions. B. compute the firm's overall performance in terms of a rate of return on investment. C. evaluate job applicants. D. make decisions about promotions, compensation, training, and firing. Answer: D

• Establish standards (performance goals that are set) • Communicate standards (employee orientation?) • Evaluate performance • Discuss results (private, open, honest discussion) • Take corrective action • Use results to make decisions (day to set goals)

• Identify training needs (help workers perform) • Granting promotions • Recognize achievements • Evaluate hiring process • Judge effectiveness of orientation process (if any changes are necessary) • Terminating workers (given them enough time to improve?)

Don't wait, deal with issues immediately Gather all data and prepare for meeting Agree on the problem (open discussion) Discuss options (together, take ownership of the next steps) Agree on follow -up (accountability on both sides) Address consequences (must meet legal requirements)

Tool to attract (and retain) qualified employees • Significant operating cost - Attract the right talent - Incentive to work - Keep valued employees - Maintain competitive position in marketplace - Sense of financial security

• Equal pay for work of equal value - Skill, effort, responsibility, and working conditions retroactive treatment= compensation for wage gap

• Salary • Hourly wage or daywork • Piecework system (based on # produced) • Commission plans (used by percentage of sales) • Bonus plans (achieving objectives) • Profit-sharing plans • Gain-sharing plans (bonus tied to meeting objective) • Cost-of-living allowances (COLAs) (consider price increase and change wage accordingly • Stock options

provide additional compensation to employees - Federal or provincial legislation (CPP) - Legally required benefits(Vacation pay) - All other benefits (health plans)

allow employees to choose which benefits they want, up to a certain dollar amount

A. flextime system. B. compressed work week. C. job rotation system. D. constrained work week. Answer: B

• Flextime plans (sometimes where all are expected to work, can be ineffective) • Compressed work week (working 40 hours in less days) • Telework (telecommuting) (working from home, less expensive) • Job sharing

• Cost-effective don't have to hire and train new employees • Employee morale performance, competency, seniority reassignments = transfers, during restructuring, developing new technical abilities

• Downsizing and restructuring - "Right-sizing" • Counselling and outplacement • Monitor workplace environment after terminations layoffs are expensive in the short run, but effective in the long run good record keeping is good against wrongful termination lawsuits

Legal requirements: cause to let someone go (well documented + notice period) Covering off duties (how will the job be covered when they're gone) Mitigating external damage: (maintain customers) Mitigating Internal damage (how to communicate to people in company Minimize legal risk Non-compete clause (prohibits employee from working with competitors

Offer early retirement benefits to entice older (and more expensive) workers to retire - Golden handshake (onetime cash payment to encourage retirement) • Loss of knowledge how to retain knowledge of practices in business

• Learn about their reasons for leaving - Prevent future losses • Turnover rate (% of workers that leave each year) exit interviews give honest responses • Focus on retention tune into top performers to understand their needs and keep them from leaving

HRM team (monitor and act on legal changes) vs. departmental managers (ensure they are familiar with employment laws and standards • Effects of legislation Employment equity (people shouldn't be cut out for reasons other than performance) • Laws that protect the disabled (can't discriminate) • Laws that protect older employees ( • Health and safety

is an evaluation in which the performance level of employees is measured against established standards to make decisions about promotions, compensation, additional training, or firing.