Attracting and Retaining the Best Employees PRIDE HUGHES KAPOOR INTRODUCTION TO BUSINESS ELEVENTH EDITION Chapter Eleven Attracting and Retaining the Best Employees 11 | 1

Learning Objectives Describe the major components of human resources management Identify the steps in human resources planning Describe cultural diversity and understand some of the challenges and opportunities associated with it Explain the objectives and uses of job analysis Describe the processes of recruiting, employee selection, and orientation Discuss the primary elements of employee compensation and benefits Explain the purposes and techniques of employee training, development, and performance appraisal Outline the major legislation affecting human resources management 11 | 2

Human Resources Management (HRM) Define Human Resources Management (HRM) Know and be able to explain the HRM activities Human Resources Planning Job Analysis Recruiting Selection Orientation 11 | 3

Human Resources Management (HRM) (cont’d) Maintaining Be prepared to define and discuss Employee Relations Compensation Benefits Development Be able to define and discuss the importance of Training and Development Performance Appraisal Who is responsible for HRM? Who develops and delivers HRM activities? 11 | 4

Human Resources Planning Define Human Resources Planning Be prepared to discuss how a firm forecasts human resources demand What are the factors affecting HR demand? Who determines the number of employees needed and their qualifications? Who forecasts human resources supply? What are the factors affecting HR supply? Be familiar with supply forecasting techniques 11 | 5

How does a firm match supply with demand? Supply and Demand How does a firm match supply with demand? What does a firm do if demand is greater than supply and vice versa? Know the methods used to reduce the workforce when necessary 11 | 6

Cultural Diversity in Human Resources Be prepared to discuss Cultural Diversity Its definition The advantages of diversity The challenges of diversity 11 | 7

What are these three things used for? Job Analysis Define Job Analysis Job Description Job Specification What are these three things used for? Define Recruiting, Selection and Orientation What are their purposes? Discuss the advantages and disadvantages of Internal versus External Recruiting 11 | 8

Recruiting, Selection, and Orientation (cont’d) What are means used to Select employees? Be familiar with the importance and role of the following in the recruiting and selecting process Employment Applications Employment Tests Interviews Assessment Centers References 11 | 9

Compensation and Benefits Be able to discuss what an effective employee reward system must include Define Compensation Compensation System Wage Level Wage Survey Wage Structure Job Evaluation Comparable Worth 11 | 10

Compensation Decisions (cont’d) On what are Individual Wages based? Why might the individual wages of two individuals differ? Know the different types of compensation Hourly Wage Salary Commission Incentive Payment Lump-Sum Salary Increase Profit Sharing 11 | 11

Define Employee Benefits Be able to explain different types of benefits Pay for time not worked Insurance packages Pension and Retirement programs Required by law Other benefits Discuss Flexible Benefits Plan Advantages and disadvantages 11 | 12

Training and Development Define Employee Training Management Development How is a training program developed? How are training needs analyzed? 11 | 13

Training and Development Methods List and define training and development methods On-the-Job Simulation Classroom Teaching and Lectures Conferences and Seminars Role Playing How is the success of a training program evaluated? 11 | 14

Performance Appraisal Define Performance Appraisal What are the uses of performance appraisal? Be familiar with common evaluation techniques Objective Methods Judgmental Methods How does a manager avoid appraisal errors? 11 | 15

Why is Performance Feedback important for employees? What are common approaches to performance feedback? 11 | 16

The Legal Environment of HRM Be familiar with the major HRM legislation National Labor Relations Act and Labor-Management Relations Act (1935) Fair Labor Standards Act (1938) Labor-Management Relations Act (1947) Equal Pay Act (1963) Title VII of the Civil Right Act (1964) Age Discrimination in Employment Act (1967-1986) Occupational Safety and Health Act (1970) Employment Retirement Income Security Act (1974) Worker Adjustment and Retraining Notification (WARN) Act (1988) Americans with Disabilities Act (1990) Civil Rights Act (1991) Family and Medical Leave Act (1993) Affordable Care Act (2010) 11 | 17

Know what Affirmative Action is To whom does it apply? How does it affect the workplace? 11 | 18