Chapter 15 Notes: Human Resources Management

 

§   Human resource management: the process of finding, selecting, training, and evaluating employees

 

§   Job description: a detailed outline of duties, qualifications, and conditions required to do a specific job

 

§   Compensation: how much a job pays and all the benefits offered

 

§  When looking for a job, a person should look at the employer’s benefits such as health care, retirement benefits, and his/her family’s needs

 

§  Pension plan: a retirement plan (ex. 401(k))

 

§   Recruitment: actively looking for qualified people to fill a job

 

§   Can be found/placed in newspapers, magazines, at schools, or on the Internet

 

§   Population trends change the pool of applicants. The workforce is getting older, so not all people will retire when they are of a certain age. Also, more women are beginning to work so family issues are receiving more attention.

 

§   A job applicant should have a neat appearance, poise, and appear confident. They must also have the skills needed for the job and be able to communicate effectively. It is also helpful to know how to work in other countries.

 

§   Steps for selecting a candidate: look over job application, interview, test candidates for needed skills, and check their references

 

§   Orientation: the process of helping new employees adjust to a company

 

§   New employees introduced

§   Company manual explained

 

§   On-the-job training: learning a new job by actually doing it

 

§   Job rotation: employees move from job-to-job and rotate, learning various tasks

 

§   Group training: learning a new job from an instructor or manager with a group of other employees, like a class

 

§   Performance appraisal: an evaluation of how well an employee is doing his/her job

 

§   Employee turnover: changes in the status of employees (ex. Promotion, transfer, separation)

 

§   Promotion: a move to a higher-level job with more authority, responsibility, and pay

 

§   Transfer: a move to another job within a company at the same level and pay

 

§   Separation: leaving a company for any reason (ex. Quit, resign, or retire)

 

§   Voluntary separation: resignation

 

§   Involuntary separation:

 

§ Layoff – company is losing money and needs to reduce the number of employees

 

§ Termination: fired for disciplinary actions, doing a poor job, or breaking of company rules