HRM Importance and Functions
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Questions and Answers

What is the primary outcome of an organization’s work processes and activities?

  • Profit generation
  • Employee satisfaction
  • Market share
  • Accumulated results (correct)

    • What is the primary purpose of control in organizational activities?

  • To increase production costs
  • To create new activities
  • To ensure activities achieve organizational goals (correct)
  • To enhance employee satisfaction

    • All businesses aim to maximize their operating costs.

    False

    Control processes aim to correct deviations from planned activities.

    <p>True</p> Signup and view all the answers

    What is the primary function of control systems in management?

    <p>To provide feedback on employee performance</p> Signup and view all the answers

    What does the control process monitor?

    <p>Activities</p> Signup and view all the answers

    What term describes the coordination of the work of employees in an organization?

    <p>Organizational performance</p> Signup and view all the answers

    Control processes ensure that activities are completed in ways that lead to the accomplishment of __________ goals.

    <p>organizational</p> Signup and view all the answers

    Control systems do not play a role in empowering employees.

    <p>False</p> Signup and view all the answers

    Financial controls are primarily concerned with ___ in a business.

    <p>profit</p> Signup and view all the answers

    Match the following terms related to control with their definitions:

    <p>Monitoring = The process of observing activities Deviation = An error or divergence from the planned activity Corrective Action = Steps taken to address deviations Accomplishment = The successful completion of goals</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Organizational performance = Final results of work processes Financial controls = Strategies to earn profit Work processes = Activities conducted to create results Coordination = Organizing employee tasks</p> Signup and view all the answers

    What aspect of planning do controls help managers monitor?

    <p>Goals and plans are ON TARGET</p> Signup and view all the answers

    Control systems provide managers with information and feedback on employee ______.

    <p>performance</p> Signup and view all the answers

    Match the following functions with their descriptions:

    <p>Planning = Setting objectives and determining a course of action Controlling = Monitoring progress to achieve goals Empowering = Enabling employees to take initiative Feedback = Providing information on performance outcomes</p> Signup and view all the answers

    Which of the following is a reason why human resource management (HRM) is considered important?

    <p>It serves as a significant source of competitive advantage</p> Signup and view all the answers

    What is the main purpose of Human Resource (HR) planning?

    <p>To ensure the right number and types of people are in the right places</p> Signup and view all the answers

    HRM is only a functional department and does not play a strategic role in organizations.

    <p>False</p> Signup and view all the answers

    HR planning involves ensuring employees are able to perform their tasks effectively.

    <p>True</p> Signup and view all the answers

    What is one key function of the HRM process?

    <p>Identifying and selecting competent employees</p> Signup and view all the answers

    What are the key aspects that HR planning aims to address?

    <p>The right number and types of people in the right places and at the right times.</p> Signup and view all the answers

    HRM improves __________ performance by aligning human resources with strategic goals.

    <p>organizational</p> Signup and view all the answers

    Match the following HRM benefits with their descriptions:

    <p>Competitive advantage = Gives a company a market edge over competitors Strategic tool = Helps align employee performance with organizational goals Organizational performance = Improves overall metrics of company success Competent employees = Employees who possess the necessary skills and qualifications</p> Signup and view all the answers

    HR planning ensures that managers have the right number and types of people in the right ______.

    <p>places</p> Signup and view all the answers

    Match the HR planning objectives with their descriptions:

    <p>Capacity planning = Determining the number of employees needed Skill assessment = Evaluating employees' capabilities Workforce alignment = Matching personnel with organizational goals Succession planning = Preparing for future leadership needs</p> Signup and view all the answers

    What is liquidity?

    <p>The ability to convert an asset to cash quickly</p> Signup and view all the answers

    Leverage involves buying more of an asset using only cash on hand.

    <p>False</p> Signup and view all the answers

    What is the primary purpose of financial controls for managers?

    <p>To achieve financial goals and ensure effective management.</p> Signup and view all the answers

    The process of determining whether a company's management is effectively generating __________ is known as activity assessment.

    <p>revenues</p> Signup and view all the answers

    Match the following financial concepts to their definitions:

    <p>Liquidity = Ability to convert assets to cash quickly Leverage = Buying more of an asset with borrowed funds Activity = Assessing management's revenue generation Financial controls = Tools to manage financial performance</p> Signup and view all the answers

    Study Notes

    HRM Importance and Functions

    • HRM is a significant source of competitive advantage
    • HRM is an important strategic tool
    • HRM improves organizational performance

    HRM Process Functions

    • Identifying and selecting competent employees
    • Providing employees with up-to-date knowledge and skills
    • Ensuring the organization retains competent and high-performing employees

    Human Resource Planning (HRP)

    • HRP is the process managers use to ensure the right number and type of people are in the right places at the right times
    • HRP helps avoid sudden talent shortages and surpluses

    Steps in HR Planning

    • Assessing current human resources
    • Assessing future needs for human resources

    Human Resource Inventory

    • A review of the organization's current resource status
    • Inventory includes information such as employee names, education, training, prior employment, language, skills, and capabilities

    Job Analysis

    • An assessment that defines a job and the necessary behaviors to perform it

    Job Description

    • A written statement describing a job

    Job Specification

    • A written statement of the minimum qualifications needed to perform a specific job successfully

    Recruitment

    • The process of locating, identifying, and attracting qualified applicants

    Decruitment

    • Reducing the surplus of employees in an organization's workforce

    Selection

    • Screening job applicants to ensure the most suitable candidates are hired
    • Predicting applicant success in performing job criteria

    Selection Errors

    • Rejecting potentially successful applicants
    • Accepting ultimately poor performers

    Selection Tools

    • Written tests
    • Application forms
    • Performance-simulation tests
    • Interviews
    • Physical examinations

    Realistic Job Preview (RJP)

    • Relating to applicants both the positive and negative aspects of a job
    • Encouraging mismatched applicants to withdraw
    • Aligning successful applicants' expectations with actual job conditions

    Orientation

    • Educating new employees about their jobs and the organization
    • Work unit orientation: Familiarizing with unit goals, job contributions, and coworkers
    • Organization orientation: Informing about company goals, history, philosophy, procedures, rules, and relevant HR policies

    Training Methods

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

    Work-Life Balance

    • Prioritizing work (career and ambition) and lifestyle (health, pleasure, leisure, family, spiritual development)
    • Employees maintaining personal lives
    • Organizations offering family-friendly benefits (on-site childcare, summer day camps, flex-time, job sharing, leave for personal matters, flexible job hours)

    Controlling

    • Monitoring activities to ensure they are accomplished as planned and correcting deviations
    • Ensuring activities lead to achieving organizational goals
    • Planning: Controls help managers determine if goals and plans are on target and what future actions to take
    • Empowering employees: Control systems provide information and feedback on employee performance
    • Protecting the workplace: Controls enhance physical security and minimize disruptions

    The Process of Control

    • Measuring actual performance
    • Comparing actual performance against a standard
    • Determining variation between actual performance and standard
    • Taking corrective action (doing nothing, immediate corrective action, basic corrective action) including changing strategy, structure or compensation schemes, redesigning jobs or firing employees
    • Revising the standard (examining whether the standard is realistic, fair and achievable)

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    Related Documents

    BUS250 AUM Notes - HRM

    Description

    Explore the critical role of Human Resource Management (HRM) in gaining a competitive advantage and enhancing organizational performance. This quiz covers key functions and processes, including HR planning, job analysis, and employee development. Assess your understanding of how HRM contributes strategically to businesses.

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