Chapter 7 Human Resources and Management

Creating a Positive Attitude in the Workplace 1.Compensation Hourly Wages – Minimum Wage, OvertimeHourly Wages – Minimum Wage, Overtime SalarySalary Salary + CommissionSalary + Commission Straight Commission (based only on employee sales)Straight Commission (based only on employee sales) Incentive Bonus (reward for good performance)Incentive Bonus (reward for good performance) Performance-Based Pay (piecework – rewards skill and speed, sweatshop)Performance-Based Pay (piecework – rewards skill and speed, sweatshop) Fee for Service (contract signed for work and a total fee is paid – construction, catering)Fee for Service (contract signed for work and a total fee is paid – construction, catering) Royalty or Licensing FeeRoyalty or Licensing Fee Royalty: someone sells your idea and you get a % of salesRoyalty: someone sells your idea and you get a % of sales Licensing Fee: a company pays you to take and use your ideaLicensing Fee: a company pays you to take and use your idea Stock Options (employee is offered to buy stocks at a price lower than market)Stock Options (employee is offered to buy stocks at a price lower than market) Think-Pair-Share: What compensation is involved in your job or your parents’ jobs?Think-Pair-Share: What compensation is involved in your job or your parents’ jobs?

2.Health and Safety HealthHealth Sick PaySick Pay Wellness Programs (fitness, anti-smoking, addiction treatment, job stress, counseling, professional development)Wellness Programs (fitness, anti-smoking, addiction treatment, job stress, counseling, professional development) SafetySafety Employees are aware of hazardsEmployees are aware of hazards Refuse dangerous workRefuse dangerous work Work places are legally bound to make it safe at workWork places are legally bound to make it safe at work

The Role of Human Resources 1.Determine when hiring will need to be done Affected by employee turnover (employees voluntarily leave/retire), technology, changes with the company, and the economyAffected by employee turnover (employees voluntarily leave/retire), technology, changes with the company, and the economy 2.Look for employees who are suitable Post jobs through online sites/firms, advertise, recruit at schools, look at recent applicantsPost jobs through online sites/firms, advertise, recruit at schools, look at recent applicants 3.Accept applications and conduct interviews

4.Hire suitable employees 5.Job training May have a probationary periodMay have a probationary period 6.Work to keep good employees Incentives and perksIncentives and perks 7.Manage departures, dismissals and retirement Departures: leave voluntarily (quit)Departures: leave voluntarily (quit) Dismissals: when employees are not doing their job well enough, cutbacks create layoffs (severance packages and counseling provided)Dismissals: when employees are not doing their job well enough, cutbacks create layoffs (severance packages and counseling provided) Retirement: employee has worked until they are a certain age (pension)Retirement: employee has worked until they are a certain age (pension)

Rights of the Employee  Think-Pair-Rally Robin: What are some rights you feel employees should have?  Minimum age to work  Number of hours you work a week  Minimum wage ($9.50, $8.90 student)  Paid holidays (when you don’t work on the holiday)  Overtime, holiday and vacation pay (when you work on a holiday)  Parental Leave  Termination of Employment  Recovery of Unpaid Wages  Discrimination and Harassment

Rights of the Employer  Think-Pair-Rally Robin: What are some rights you feel employers should have?  Decide what employment needs are  To hire people who are qualified and experienced  To have standards for evaluating job performance  That employees follow the expectations of the job  To be able to deal with employees who have poor job performance  To set employment terms and conditions  To set salary and wage scales

How Management Functions 1.Planning: set goals for the business and then develop a plan to meet them 2.Organizing: larger companies are separated into divisions/departments and each section has a manager to help be organized and complete all tasks 3.Directing: focus employees on achieving objectives by motivating, communicating and encouraging participation 4.Controlling: increase, maintain or decrease resources (employees, money, supplies, etc.) 5.Staffing: larger businesses have Human Resources to do this (see earlier slide)

Managing Resources 1.Purchasing 2.Production 3.Marketing and Distribution 4.Research and Development 5.Finance