Bovee Bia8 Inppt 11a

Business in Action
Eighth Edition
Chapter 11
Human Resources
Management
Copyright © 2017, 2015, 2013 Pearson Education, Inc. All Rights Reserved
Learning Objectives (1 of 2)
11.1 Identify four contemporary staffing challenges, and
explain the process of planning for a company’s staffing
needs.
11.2 Discuss the challenges and advantages of a diverse
workforce, and identify five major dimensions of workforce
diversity.
11.3 Describe the three phases involved in managing the
employment life cycle.
Learning Objectives (2 of 2)
11.4 Explain the steps used to develop and evaluate
employees.
11.5 Describe the major elements of employee
compensation.
11.6 Identify the most significant categories of employee
benefits and services.
Keeping Pace with Today’s Workforce
• Human resources (HR) management
– The specialized function of planning how to obtain
employees, oversee their training, evaluate them,
and compensate them
Contemporary Staffing Challenges (1 of 2)
• Aligning the workforce
• Fostering employee loyalty
• Monitoring workloads and avoiding employee burnout
• Managing work–life balance
Contemporary Staffing Challenges (2 of 2)
• Work–life balance
– Efforts to help employees balance the competing
demands of their personal and professional lives
• Quality of work life (QWL)
– An overall environment that results from job and
work conditions
Exhibit 11-1: Steps in Human Resources
Planning
Evaluating Job Requirements
• Job description
– A statement of the tasks involved in a given job and
the conditions under which the holder of a job will work
• Job specification
– A statement describing the kind of person who would
be best for a given job—including the skills, education,
and previous experience that the job requires
Forecasting Supply and Demand (1 of 2)
• Turnover rate
– The percentage of the workforce that leaves every
year
• Employee retention
– Efforts to keep current employees
Forecasting Supply and Demand (2 of 2)
• Succession planning
– Workforce planning efforts that identify possible
replacements for specific employees, usually senior
executives
• Contingent employees
– Non-permanent employees, including temporary
workers, independent contractors, and full-time
employees hired on a probationary basis
Alternative Work Arrangements
• Flextime
• Telecommuting
• Job sharing
Managing a Diverse Workforce (1 of 4)
• Diversity
– All the characteristics and experiences that define
each of us as individuals
– Includes race, age, military experience, parental status,
marital status, and thinking style
• Sexism
– Discrimination on the basis of gender
• Glass ceiling
– An invisible barrier that can be attributed to subtle
discrimination keeping women and minorities out
of the top positions in business
• Sexual harassment
– Unwelcome sexual advances, request for sexual
favors, or other verbal or physical conduct of a sexual
nature within the workplace
• Diversity initiatives
– Programs and policies that help companies support
diverse workforces and markets
Exhibit 11-3 Generations in the
Workplace (1 of 2)
Common Range of
Some Workforce Implications
Label Birth Years
Radio 1925–1945 People in this group are beyond what was once considered the
Generation traditional retirement age of 65, but many want or need to continue
working.
Baby 1946–1964 This large segment of the workforce, which now occupies many mid- and
Boomers upper-level managerial positions, got its name from the population boom
in the years following World War II. The older members of this
generation are now past traditional retirement age, but many will
continue to work—meaning that younger workers waiting for some of
these management spots to open up might have to wait a while longer.
Generation X 1965–1980 This relatively smaller “MTV generation” is responsible for many of the
innovations that have shaped today’s communication and business
habits but sometimes feels caught between the large mass of Baby
Boomers ahead of them and the younger Generation Y employees
behind them in the workforce. As Generation X takes the reins of
corporate leadership, it is overseeing in a vastly different business
landscape, one in which virtual and networked organizations replace
much of the hierarchy inherited from the Baby Boomers.
Exhibit 11-3 Generations in the
Workplace (2 of 2)
Generation Y 1981–1995 Often known as millennials, this generation has been noted for its
technology-centric approach to communication,
impatience with corporate hierarchy, and the desire for a meaningful and
personalized work experience. Many in this generation are now
managers with power to reshape organizational cultures. New research
suggests, however, that millennials aren’t dramatically different from
their predecessors and generally value the same rewards and express
the same career concerns.
Generation Z 1996– Generation Z, also known as Generation I (for Internet) or the Net
Generation, is the first full generation to be born after the World Wide
Web was invented. With a global, socially aware outlook shaped by
lifelong networking and media usage, this diverse group appears to be
highly entrepreneurial and interested in new ways of approaching
business.
Managing the Employment Life Cycle
• Recruiting
– The process of attracting appropriate applicants
for an organization’s jobs
Terminating Employees
• Termination
– The process of getting rid of an employee by firing him
• Layoffs
– Termination of employees for economic or business
reasons
Exhibit 11-5 Major Employment
Legislation (1 of 2)
Category Legislation Highlights
Labor and National Labor Relations Act, Establishes the right of employees to form, join,
unionization also known as the Wagner Act and assist unions and the right to strike;
prohibits employers from interfering in union
activities
blank Labor-Management Relations Expands union member rights; gives employers
Act, also known as the Taft- Hartley free speech rights to oppose unions; restricts
Act union’s strike options; gives the president the
authority to impose injunctions against strikes
Blank Labor-Management Reporting Gives union members the right to nominate and
and Disclosure Act, also vote for union leadership candidates;
known as the Landrum-Griffin Act Combats financial fraud within unions
Blank State right-to-work laws Give individual employees the right to choose
not to join a union
Blank Fair Labor Standards Act Establishes minimum wage and overtime pay
for nonexempt workers; sets strict guidelines
for child labor
blank Immigration Reform and Control Act Prohibits employers from hiring illegal
immigrants
Exhibit 11-5 Major Employment
Legislation (2 of 2)
Workplace State workers’ Require employers (in most states) to carry either private or government
safety compensation Acts sponsored insurance that provides income to injured workers
blank Occupational Health Empowers the Occupational Safety and Health Administration (OSHA) to
and Safety Act establish, monitor, and enforce standards for workplace safety
Compensation Employee Retirement Governs the establishment and operation of private pension programs
and benefits Income Security Act
Blank Consolidated Omnibus Requires employers to let employees or their beneficiaries buy continued
Budget Reconciliation health insurance coverage after employment ends
Act (usually known by
the Acronym COBRA)
Blank Federal Unemployment Requires employers to fund programs that provide income for qualified
Tax Act and similar unemployed persons
state laws
Blank Social Security Act Provides a level of retirement, disability, and medical coverage for
employees and their dependents; jointly funded by employers and
employees
Blank Lilly Ledbetter Fair Pay Amends and modifies several pieces of earlier legislation to make it
Act easier for employees to file lawsuits over pay and benefit discrimination
blank Patient Protection and Requires companies with more than 50 full-time employees to offer health
Affordable Care Act insurance coverage for employees
Replacing Retiring Employees
• Worker buyouts
– Distributions of financial incentives to employees
who voluntarily depart; usually undertaken in order
to reduce the payroll
• Mandatory retirement
– Required dismissal of an employee who reaches a
certain age
Evaluating Employees (1 of 2)
• Performance appraisals
– Periodic evaluations of employees’ work according
to specific criteria
• Electronic performance monitoring (EPM)
– Real-time, computer-based evaluation of employee
performance
Evaluating Employees (2 of 2)
• 360-degree review
– A multidimensional review in which a person is given
feedback from subordinates, peers, superiors, and
possibly outside stakeholders such as customers and
business partners
Training and Developing Employees
• Orientation programs
– Sessions or procedures for acclimating new employees
to the organization
• Skills inventory
– A list of the skills a company needs from its workforce,
along with the specific skills that the individual
employees currently possess
Administering Employee Compensation
• Compensation
– Money, benefits, and services paid to employees for
their work
– Salary
 Fixed cash compensation for work, usually by a
yearly amount; independent of the number of hours
worked
– Wages
 Cash payment based on the number of hours an
employee has worked or the number of units an
employee has produced
Incentive Programs (1 of 3)
• Bonus
– A cash payment, in addition to regular wage or salary,
that serves as a reward for achievement
• Commissions
– Employee compensation based on a percentage of
sales made
• Profit sharing
– The distribution of a portion of the company’s profits
to employees
• Gain sharing
– Tying rewards to profits or cost savings achieved by
meeting specific goals
• Pay for performance
– An incentive program that rewards employees for
meeting specific, individual goals
• Knowledge-based pay
– Pay tied to an employee’s acquisition of knowledge
or skills
– Also called competency-based pay or skill-based pay
Employee Benefits and Services
• Employee benefits
– Compensation other than wages, salaries, and
incentive programs
• Cafeteria plans
– Flexible benefit programs that let employees
personalize their benefits packages
Retirement Benefits (1 of 2)
• Retirement plans
– Company-sponsored programs for providing retirees
with income
• 401(k) plan
– A defined-contribution retirement plan in which
employers often match the amount employees invest
Retirement Benefits (2 of 2)
• Employee stock-ownership plan (ESOP)
– A program that enables employees to become partial
owners of a company
Stock Options
• Stock options
– A contract that allows the holder to purchase or sell
a certain number of shares of a particular stock at a
given price by a certain date
Other Employee Benefits
• Paid vacations and sick leave
• Family and medical leave
• Child-care assistance
• Elder-care assistance
• Tuition loans and reimbursements
• Employee assistance programs
Applying What You’ve Learned (1 of 2)
1. Identify four contemporary staffing challenges, and
explain the process of planning for a company’s staffing
needs.
2. Discuss the challenges and advantages of a diverse
workforce, and identify five major dimensions of
workforce diversity.
3. Describe the three phases involved in managing the
employment life cycle.
Applying What You’ve Learned (2 of 2)
4. Explain the steps used to develop and evaluate
employees.
5. Describe the major elements of employee compensation.
6. Identify the most significant categories of employee
benefits and services.
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