2. Strategy and Human
Resources
Important because people are the most
important resources a company has
HR manages people
Recruit
Train
Leadership Development
Rewards and Recognition
Compensation and Benefits
Wellness
Ethics and Social Responsibility
Compliance
3. HR Planning
Job Analysis- job duties and requirements
and the relative importance of these
duties
Job Description Sample Job Description
Job Specification is developed from the
Job Analysis and the Job Description.
Describes the KSA’s
4. HR Planning Process
Job analysis
Forecast Demand
for Labor
Forecast Internal
Supply of Labor
Forecast External
Supply of Labor
Develop Plan to
Match Demand
with Supply
8. Wages and Salaries
Pay for time worked = Wage
Pay for performing the job = Salary
Incentive Pay = special compensation
designed to motivate employees to perform
Bonus = individual performance incentive in
the form of a special payment made over
and above the salary
Merit Salary = individual incentive linking
compensation to performance (non-sales)
9. Wages and Salaries continued
Pay for Performance = individual incentive
that rewards a manager for high productivity
Profit Sharing Plan = incentive plan for
distributing bonuses to employees when the
company profits rise above a certain level
Gainsharing Plan = incentive plan that
rewards groups for productivity improvements
Job Analysis is a process to identify and determine in detail the particular job duties and requirements and the relative importance of these duties for a given job. Job Analysis is a process where judgements are made about data collected on a job. A job specification describes the knowledge, skills, education, experience, and abilities you believe are essential to performing a particular job. The job specification is developed from thejob analysis. Ideally, also developed from a detailed job description, the job specification describes the person you want to hire for a particular job.
Through on-the-job training, workers acquire both general skills that they can transfer from one job to another and specific skills that are unique to a particular job. On-the-job training, typically includes verbal and written instruction, demonstration and observation, and hands-on practice and imitation. In addition, the on-the-job training process involves one employee—usually a supervisor or an experienced employee—passing knowledge and skills on to a novice employee.Read more: http://www.referenceforbusiness.com/encyclopedia/Oli-Per/On-the-Job-Training.html#b#ixzz2EohBwkeM
Profit Sharing Shares or portions of profit for publicly traded company employee. Publicly traded companies are owned by many investors while the shares of a privately held company are owned by relatively few shareholders. Stocks and bonds are traded on the NYSEGain Sharing It is a group incentive, pay-for-performance wage system—a group bonus in which the entire factory workforce shares as a result of improving productivity above a certain level and decreasing rejects and rework. Moreover, while productivity gain is the object, the output must be a good product; rejects and customer returns are deducted from the output totals. Over a five-year period, the productivity gains should be close to 100 percent and the costs of rejects and rework greatly reduced.