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Introduction to Business

Introduction to Business. Chapter 11 Human Resource Management. Pre-Chapter Case- Wegman’s Grocery. Great deal of selection, gourmet foods Knowledgeable employees High wages/salaries/full benefits Empowered employees High labor costs, but low turnover. HR Management.

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Introduction to Business

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  1. Introduction to Business Chapter 11 Human Resource Management

  2. Pre-Chapter Case- Wegman’s Grocery • Great deal of selection, gourmet foods • Knowledgeable employees • High wages/salaries/full benefits • Empowered employees • High labor costs, but low turnover

  3. HR Management • Determining human resources needs, then recruiting, selection, developing, motivating, compensating, and scheduling employees • Important because qualified people are more scarce today • Requires a great deal of communication, because responsibilities are shared across departments now

  4. HR Planning – Major Issues • Growing elderly population • Retraining of potentially great manufacturing workers • Shortages of high-tech workers • Emphasis on family

  5. Steps of HR Planning • Prepare a list of current employees • Ages, names, skills, training, other qualifications • Prepare a job analysis report • Analyses, descriptions, specifications • Predict future needs • Predict future supply shifts • Create a plan

  6. How to Find Great People • Internal employees; referrals from employees • Colleges, placement offices and agencies, other organizations • If small, try PEO (professional employer organization) to help offer benefits and make yourself more attractive

  7. How to Select Great People • Encourage appropriate application process • Create a meaningful interview • Do background checks as appropriate • Perhaps incorporate a trial period

  8. How To Train Great People • Training actually boosts morale and performance • Assess your training needs and design a program around them • On-the-job training? Simulation? Computerized training? • Evaluate how well your training is paying off • Mentorships help new employees feel a part of the company quickly (when done right)

  9. Evaluating Great People • Set standards and COMMUNICATE them • Measure and compare how well they did • Discuss the evaluation with the employee • MAKE SURE that only exceptional performance gets rewarded!

  10. Compensating Great People • Important for attracting recruits • Equity theory!!! • Types of compensation • Salary, Hourly, Piecework, Commission, Bonus, Profit-sharing, Stock options • Team-based compensation • Benefits • Traditional • New benefits (daycare, meals, errand-running)

  11. Human Resource Management Legal Issues • Civil Rights Act of 1964 • Cannot discriminate based on race, religion, creed, sex, national origin, or (now) age • Equal Employment Opportunity Act • Affirmative Action • Increasing opportunities for minorities and women • Does this cause a reverse discrimination situation? • University of Michigan case (no quotas, but consideration of race acceptable)

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