1. Human Resource Management
Chapter Ten
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2. 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.

3. 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.

4. Human Resource Management
Human resources management (HRM)
Formal systems for the management of people within an organization.

5. Strategic Human Resources Management
Human capital
The knowledge, skills, and abilities of employees that have economic value.

6. An Overview of the HR Planning Process
Figure 10.1

7. 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.

8. Advice on Termination
Table 10.1

9. Training and Development
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. Training and Development
Needs assessment
An analysis identifying the jobs, people, and departments for which training is necessary.

11. Types of Training Orientation training Team 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.

12. 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.

13. Performance Appraisal
360-degree appraisal
Process of using multiple sources of appraisal to gain a comprehensive perspective on one’s performance

14. Factors Affecting the Wage Mix
Figure 10.6

15. Determinants of Union Voting Behavior
Figure 10.8