HR Planning and Performance Measurement Quiz

HRM Importance and Functions

• HRM is a significant source of competitive advantage.
• HRM is a crucial strategic tool.
• HRM improves organizational performance.
• HRM's functions include identifying and selecting competent employees.
• Providing employees with up-to-date knowledge and skills.
• Ensuring the retention of competent, high-performing employees.

Human Resource Planning (HRP)

• Managers use HRP to ensure the right number and types of employees are in the right places and at the right times.
• These employees should be capable of efficient and effective tasks.
• HRP helps avoid talent shortages and surpluses.
• Steps in HRP include assessing current and future HR needs.

Human Resource Inventory

• Reviewing the current makeup of organizational resources is part of the HR Inventory.
• The inventory includes employee details, such as name, education, training, prior employment, language abilities, and special skills.

Job Analysis and Job Descriptions

• Job analysis assesses a job and identifies necessary behaviors.
• Job descriptions provide a written overview of a job.
• Job specifications outline the minimum qualifications for successful job performance.

Recruitment and Decruitment

• Recruitment locates, identifies, and attracts capable applicants.
• Decruitment reduces employee surplus in an organization's workforce.

Selection

• Selection screens job applicants to ensure suitable candidates are hired.
• Selection predicts applicant success based on criteria used to evaluate performance.
• Selection errors include rejecting potential high performers or accepting poor performers.
• Tools for selection include written tests, application forms, performance simulations, interviews, and physical examinations.

Realistic Job Preview (RJP)

• RJP presents both positive and negative aspects of a job to applicants.
• This helps reduce employee turnover by aligning expectations with reality.

Training Methods

• Traditional training methods include on-the-job training, job rotation, mentoring/coaching, experiential exercises, workbooks/manuals, and classroom lectures.
• Technology-based training uses CD-ROMs, DVDs, videotapes, audiotapes, videoconferencing, teleconferencing, satellite TV, and e-learning.

Work-Life Balance

• Work-life balance involves prioritizing work and personal life.
• Employees have personal lives that don't end at work.
• Organizations often offer family-friendly benefits like on-site childcare, summer day camps, flextime, job sharing, and leave for personal matters, and flexible job hours.

Controlling

• Controlling involves monitoring and correcting activities.
• The purpose of control is to ensure activities are accomplished per the plan.
• Key goals in control are ensuring completion of activities that meet organizational goals.

The Purpose of Control

• The process monitors activities to ensure they are completed according to the plan and corrects any significant deviations.
• The aim is to ensure all activities support organizational goals.

Why is Controlling Important?

• Controlling helps managers evaluate if goals/plans remain on track and informs future actions.
• Control systems provide feedback on employee performance.
• Control systems enhance workplace security and reduce disruptions.

The Process of Control

• Measuring actual performance
• Comparing actual performance to a standard.
• Taking corrective action.

Revising the Standard

• Revising the standard involves evaluating whether standards are realistic, fair, and achievable.

Performance

• Performance is the end result of an activity.
• Organizational performance encompasses all the accumulated end results of organizational activities and processes.
• This includes strategies, work processes, and work activities, along with coordination of employee efforts.

Financial Controls

• Businesses seek to earn a profit.
• Effective management uses financial controls to achieve this goal.
• Liquidity refers to an asset's ability to quickly convert to cash.

Leverage

• Leverage involves purchasing more assets using borrowed funds.
• The intention is that the asset income will exceed borrowing costs.
• Activity is focused on determining effective use of resources to generate revenue and cash.