1. HUMAN RESOURCES MANAGEMENT
Lesson 3.3
5/20/2019
LESSON 3.3
HUMAN RESOURCES MANAGEMENT
Define human resources management
Understand employee compensation, benefits, and evaluation
INTRO TO BUSINESS

2. Manage Human Resources
3.3
Manage Human Resources
Human resources management involves all aspects of recruiting, hiring, training, compensating, and evaluating employees.
Analyze staff needs
Hiring and training is expensive – how do we decide what needs to be done and how and who to hire?
Determine employee qualifications
What training, knowledge and skills do we want our employees to have?
Find new employees
Where do we look to find the best possible employee for the job we need done?

3. 3.3
CheckPOINT
Define human resources management in your own words.

4. 3.3
Compensation
Compensation is the amount of money paid to an employee for work performed.
Compensation is made up of two parts:
Salary and wages
Benefits

5. 3.3
Salary and Wages
Salary and wages are direct payments to employees for work completed.
A salary is a fixed amount of money paid to an employee regardless of the number of hours worked.
Wages are payments for labor made on an hourly, daily, or per-unit basis; for example, $8 per hour.

6. 3.3
Benefits
Benefits include compensation in forms other than a direct payment to the employee.
Vacations
Insurance
Other benefits

7. 3.3
Evaluation
Managers need to be objective when completing evaluations. Results of evals are help in employee’s personnel files
Evaluation process
Evals are based on observations of the employee’s performance and focus on specific job duties of each employee
Evaluation conference
A formal meeting should be held post-evaluation to discuss results and make a plan for improvement

8. 3.3
CheckPOINT
What is the connection between compensation and evaluations?