Chapter 11 discuss how companies use human resources management to gain competitive advantage, give reasons companies recruit both internally and externally for new hires, identify various methods for selecting new employees, evaluate the importance of spending on training and development, explain alternatives for who appraises an employee’s performance. | Human Resource Management Chapter Ten Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Learning Objectives LO 1 Discuss how companies use human resources management to gain competitive advantage. LO 2 Give reasons companies recruit both internally and externally for new hires. LO 3 Identify various methods for selecting new employees. LO 4 Evaluate the importance of spending on training and development. 10-2 Learning Objectives (cont.) LO 5 Explain alternatives for who appraises an employee’s performance. LO 6 Describe the fundamental aspects of a reward system. LO 7 Summarize how unions and labor laws influence human resources management. 10-3 Human Resource Management Human resources management (HRM) Formal systems for the management of people within an organization. 10-4 Strategic Human Resources Management Human capital The knowledge, skills, and abilities of employees that have economic value. 10-5 An Overview of the HR Planning Process 10-6 Figure The HR Planning Process Job analysis A tool for determining what is done on a given job and what should be done on that job. 10-7 Advice on Termination 10-8 Table Training and Development Training Teaching lower-level employees how to perform their present jobs. Development Helping managers and professional employees learn the broad skills needed for their present and future jobs. 10-9 Training and Development Needs assessment An analysis identifying the jobs, people, and departments for which training is necessary. 10-10 Types of Training Orientation training Training designed to introduce new employees to the company and familiarize them with policies, procedures, culture, and the like Team training Training that provides employees with the skills and perspectives they need to collaborate with others. 10-11 Performance Appraisal Management by objectives (MBO) A process in which objectives set by a subordinate and a supervisor must be reached within a given time period. 10-12 Performance Appraisal 360-degree appraisal Process of using multiple sources of appraisal to gain a comprehensive perspective on one’s performance 10-13 Factors Affecting the Wage Mix 10-14 Figure Determinants of Union Voting Behavior 10-15 Figure | Human Resource Management Chapter Ten Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Learning Objectives LO 1 Discuss how companies use human resources management to gain competitive advantage. LO 2 Give reasons companies recruit both internally and externally for new hires. LO 3 Identify various methods for selecting new employees. LO 4 Evaluate the importance of spending on training and development. 10-2 Learning Objectives (cont.) LO 5 Explain alternatives for who appraises an employee’s performance. LO 6 Describe the fundamental aspects of a reward system. LO 7 Summarize how unions and labor laws influence human resources management. 10-3 Human Resource Management Human resources management (HRM) Formal systems for the management of people within an organization. 10-4 Strategic Human Resources Management Human capital The knowledge, skills, and abilities of employees that have
