Presentation on theme: "Chapter 11 Human Resource Management. Humans – The Ultimate Resource Why are employees called the ultimate resource? Human Resource Management: ▫Determining."— Presentation transcript:
Humans – The Ultimate Resource Why are employees called the ultimate resource? Human Resource Management: ▫Determining HR needs, recruiting, selecting, developing, motivating, evaluating, compensating, and selecting employees
Challenges in HR 1.Shortages of knowledge workers ▫Need for almost 2 million nanotech workers in 10 years! 2.Need for retraining of population ▫Returning soldiers, prisoners, and manufacturing workers 3.Baby boomer retirees (and new starts!) 4.Recent shift toward emphasis on family 5.Overseas labor pools – to use or not to use?
What are your human resource needs? A five-step planning process: 1.Perform an inventory (what do you have?) 2.Prepare a job analysis (what does a job require?) Results in a job description and specifications 3.Predict future HR needs 4.Predict ease of finding future employees 5.Make a plan For recruiting, hiring, training, compensating, and evaluating
Internet possibilities for hiring Careerbuilder.com Company sites Yahoo! Jobs
Selecting the best employees 1.Get a complete application from each candidate 2.Conduct interviews that matter 3.Give employment tests 4.Conduct background investigations 5.Establish trial periods ▫Right to work states
Training options Apprentice programs Workshops off-the-job Online training Shadowing and understudies Orientation On-the-job coaching Mentoring
How should you evaluate employees? Establish standards that you expect from them. Tell them what you expect Evaluate them Discuss their results Work to change performance Use the information for future decisions (promotions, training programs, compensation, etc.)
Different types of compensation Salary Bonuses: performance-based, team-based Vacation time Health insurance Stock options Commission plans Piecework (by the unit produced)
Important legislation Civil Rights Act of 1964 (1991) ▫No discrimination based on race, religion, creed, sex, or national origin ▫Victims have right to trial and punitive damages Americans with Disabilities Act of 1990 ▫Employers must give disabled persons same consideration as other applicants; extended to patrons Age Discrimination ▫No person over 40 can be discriminated against, in companies with over 20 employees.