HRM and Workforce Planning Overview

The aspect of management that covers acquiring, developing, and managing the workforce's skills and abilities.

The desired results of HRM, including performance, satisfaction, retention, and overall organizational behavior.

A process to identify current and future workforce needs to accomplish objectives. It links human resources with the company's overall strategy.

The process of attracting, interviewing, and selecting qualified candidates for job openings.

Activities designed to enhance the knowledge, skills, and abilities of employees.

A traditional approach focuses on the workforce as an expense, while the human capital perspective views them as an asset that contributes to organizational success.

Types of capital that work together to create intellectual capital, making a company smarter and more valuable. Examples include human capital (skills), structural capital (systems), and social capital (relationships).

The way a company is organized has a huge impact on how it functions, as it influences communication, collaboration, and decision-making.

Tests designed to measure an individual's mental abilities, personality traits, and skills relevant to a particular role. They aim to provide an objective assessment of a candidate's potential and predict future job performance.

Tests designed to simulate real-world job tasks and gauge a candidate's ability to perform specific job functions. They are often used in technical roles with specific skills requirements.

A structured process that involves a series of assessments and exercises, often over multiple days, to evaluate a candidate's skills, knowledge, and potential for a specific role.

A common method of selection that involves a direct conversation between a recruiter and the candidate to discuss qualifications, skills, and potential fit for the role. It allows for assessment of communication, personality, and cultural fit.

The ability of a selection method to accurately predict job performance.

The consistency of results from repeated applications of a selection method.

The potential for bias in the selection process, where certain groups are unfairly favored or disadvantaged.

Presenting a positive and idealized version of oneself during the selection process, potentially leading to a mismatch between the candidate's actual skills and behaviors and the expectations of the role.

Focuses on managing HR processes and functions like recruitment, training, and performance management, aiming to improve organizational efficiency and employee satisfaction.

Focuses on investing in and maximizing the value of employees, treating them as assets to create value and improve productivity.

The value derived from relationships and networks both inside and outside the organization.

It refers to the supportive infrastructure, processes, databases, and capabilities that enable human capital to function efficiently.

How the company is organized affects its communication, collaboration, and decision-making processes.

The combination of Human Capital, Social Capital, and Structural Capital creates a company's overall intellectual capability.

Collaboration, trust, and support systems are crucial for effective teamwork and employee well-being.

Efficiency, knowledge management, and innovation are some of the key benefits of having good structural capital.

The value created by a company's culture, leadership, and organizational structure.

Customer loyalty, feedback, and satisfaction are all important parts of client capital.

The value generated by an organization's internal and external connections.

The combined knowledge, information, intellectual property, and experience that a company possesses.

A positive work environment and motivated employees are key to organizational capital.

Effective leadership provides direction and drives the organization towards its goals.

Structure clarifies roles, responsibilities, and communication, ensuring smooth operations.

Strong relationships with customers lead to repeat business and positive brand reputation.

Ensures that the way a company is organized supports its overall goals and vision.

Allows the organization to adapt quickly to changes in the market, technology, or competition.

Simplifies operations, reduces waste, and improves communication and teamwork.

Makes employees happier and more motivated by creating clear roles, responsibilities, and career paths.

Groups employees based on their specific skills or areas of expertise, like marketing, finance, or production.

Organizes employees around specific projects or products, allowing for more focused collaboration.

Combines elements of both functional and project-based structures, giving employees multiple reporting lines.

Organizes the company into separate divisions based on products, services, or geographic locations.

A plan to maintain and build competitive advantage, aligning actions with goals and market conditions.

The arrangement of roles, responsibilities, and communication channels, ensuring efficient workflow and coordination.

Processes and procedures used to manage and operate the organization, supporting strategy execution and daily tasks.

Core beliefs and cultural values that guide behavior and decision-making, creating a cohesive and motivated workforce.

The leadership approach and management style, influencing organizational culture and employee behavior.

Analyzing the number of direct reports per manager and organizational layers.

Assessing the extent to which organizational goals and objectives are met.

Measuring customer feedback and satisfaction levels.