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HR Planning

HR Planning Loyalist College Canada

QuestionAnswer
Definition of strategy Formulation of organization mission goals and objectives. Action plans for achievement.
What is the strategic planning process? 1. Establish mission and values. 2. Develop objectives. 3. analyze external environment 4. Determine competitive position. 5. identify competitive advantage. 6. Determine methods for accomplishing objectives. 7. Evaluate performance.
What are the benefits of strategy formulation? Clarity, coordination, Efficiency, incentives, change, career path and development.
What is strategic Human Resource Management (HRM)? Interrelated philosophies, policies, and practices that facilitate the attainment of organizational strategy.
Resource Based Theory Resource based people have competitive advantage based on skills of flexibility.
Behavioral Based Theory Different behaviors are required in different situations and different companies.
Human Capital theory the collective sum of attributes, experience, knowledge, skills, abilities and commitment that employees have.
PEST Political, Economic, Social, Technology
AWOT Strengths, Weaknesses, Opportunities, Threats
Environmental Influences on HR Management Trends, Evidence based management, HR operations.
Environmental scanning monitoring of the major factors influencing the organization
External environment anything outside organizational boundaries that might influence an organization.
Scanning identify trends
monitoring continuous observation
forecast formulate what may occur in the short or long term.
Assess know how something may or may not impact your business.
Sources of information publications, professional associations, conferences, professional consultants.
Trend analysis forecasts based on historical organizational indices.
Delphi Technique a process that relies on the forecasts and judgements of experts to determine the future of employment. Experts get together and make a list of factors and then rate importance
Impact analysis past trends are analyzed by a panel of experts who then predict the probability of future events.
Scenario planning creating future scenarios that differ radically from those created by extrapolation of present day trends
Trends in HR retirement of baby boomers, aging population, shortage of skilled workers, growing number of employees with care-giving responsibilities, increased demand for work-life balance, generational issues, increased chronic health issues
Competitive Intelligence Formal approach to obtain information about competitors. Is the resource reliable? What is the likelihood of the information being correct.
Challenges in environmental scanning inability to predict the future, inability to isolate what really i important to HR. (technology, downsizing, telecommuting, outsourcing...)
Demographics the study of population statistics.
Labour market area from which an organization recruits' employees. The labour market is the most important demographic factor and might include: unemployment rate, geographic migration, graduation rates, local, provincial, federal, global regions.
Socio-cultural trends increasing environmental awareness
Issues priority mix used to determine the important trends that may impact an organization. Managers rate the trends from high to low based on the probability of these trends occurring and the likely impact of each on the organization.
Stakeholders groups of people who have vested interests in an organization's decisions. Also known as constituent groups.
What is Information Technology? All the hardware and software including networking implementation technologies.
What is business intelligence? Applications and technologies for gathering storing and analyzing and providing access to data to make better decisions.
Why on demand solutions? New service delivery models, web based HR gives instant access for personal information, e-learning is the process of learning content distributed in digital format via computers and internet.
HR I S Human Resources Information System that collects, stores, maintains, and retrieves information for employees and their job.
What is Enterprise Resource Planning? ERP systems integrate most of the firm's business processes.
What is Relational Database A database that can share information across multiple tables or files, which allows the same information to exist in multiple files at the same time.
Steps in Selecting Technology for HR Conduct needs analysis to determine IT needs, Explore the market place, Issue a request for proposal, develop change management or adoption plan, implement and evaluate the technology, purchase and train staff, ensure data security.
What is HR Forecasting? Ascertaining the net requirement for personnel by determining the demand for and supply of human resources now and in the future.
Transactional Based Forecasting focuses on tracking internal change instituted by the organizations managers.
Event-based Forecasting concerned with the changes in the external environment.
Process-based Forecasting Focuses on the flow or sequencing of several work activities. (Based on value-mapping)
Benefits of Forecasting Reduces costs, increases organizational flexibility, ensures a close linkage to the macro business forecasting process.
HR Deamnd the organizations projected requirement for human resources.
HR Supply the source of workers to meet demand requirements obtained either internally or from external agencies.
Key areas or groups of personnel analysis 1.Specialist/technical/professional Personnel 2.Employment equity-designated group membership. 3.Managerial and executive personnel 4.Recruits
Designated Group Identifiable groups deemed to need special attention: aboriginal decent, woman, people with disabilities and members of visible minorities. These groups typically receive the most discrimination.
5 stages of the Forecast Process 1.Identify organizational goals, objectives 2.Determine overall demand requirements 3.Assess internal skills and other internal supply characteristics 4.Determine NET demand to be met from external supply sources 5.Develop HR plans and programs
Organizational Factors Affecting HR Forecasting Corporate mission and strategic goals, operational goals and production budgets, organization structure and restructuring, worker KSA's
Environmental Factors Affecting HR Forecasting Economic situation, labour markets and unions, Government laws and regulations, Industry and product life-cycles, Technological changes, competitor labour usage, demographic changes.
HR Forecasting Time zones Current forecast - up to one year Short- run 1 to 2 years medium-run 2 to 5 years Long-run 5 or more years
Outcomes of Forecasting Prediction, projection, scenario, contingency
Forecasting Prediction A single numerical estimate of HR requirements associated with a specific time horizon and set of assumptions.
Forecasting Projection Incorporates several HR estimates based on a variety of assumptions
Forecasting Scenario A proposed sequence of events with its own set of assumptions and associated program details
Forecasting Contingency plans implemented when severe unanticipated changes to organization or environmental factors completely negate the usefulness of the existing HR forecasting predictions or projections.
Steps in NET HR Requirements 1. Determine HR Demand 2. Ascertain HR Supply with internal and external sources. 3.Determine NET HR requirements 4. Institute HR programs
HR Shortage occurs when deand for HR exceeds the current personnel resources available in the organization's workforce (HR internal supply).
HR Surplus occurs when the internal workforce supply exceeds the organizations demand for personnel.
Job sharing occurs when two or more employees perform the duties of one full-time position, each sharing the work activities on a part-time basis.
Work sharing A federal government program that aims to help organizations mitigate temporary lay-offs through redistribution of work, earnings, and leisure time.
Attrition process of reducing an HR surplus by allowing the size of the workforce to decline naturally because of the normal pattern losses associated with retirements, deaths, voluntary turnover, and so on.
Hiring Freeze A prohibition on all external recruiting activities
HR Demand The organization projected requirement of human resources
Trend Analysis Reveals the historical relationship between operational index and the number of employees required by the organization
Employee Recruitment Ratio The relationship between the operational index and the demand for labour
Delphi Technique Program of sequential, individual interrogations (usually through questionnairres) interspersed with information feedback on the opinions expressed by other participants on previous rounds.
HR Budgets Quantitative, operational or short-run demand estimates that contain the number and types of personnel required by the organization.
Staffing Table Total HR demand requirements for operation or short-run time periods.
HR Supply the source of workers to meet demand requirements obtained either internally or externally.
Skills Inventory an individualized personnel record held on each employee except those currently in management or professional positions.
Management Inventory an individualized personnel record for managerial, professional or technical personnel that includes all elements in the skills inventory with the addition of information on specialized duties, responsibilities, and accountability.
Succession planning Critical to effective organization functioning and helps the organization be more effective in filling vacant positions.
Tacit Knowledge Experience
Succession management process of ensuring that pools of skilled employees are trained and available to meet the strategic objectives of the organization.
Replacement management process of finding employee for key managerial positions.
Long-term succession planning process of training and work experience to enable individuals to assume higher-level job appointments int he future.
Short-term emergency replacement individuals who have quit, been terminated due to performance problems or just moved on.
Reasons why succession planning is critical Respond appropriately when changes occur, provide continuity and future direction, develop people as they prepare for new experiences and jobs, which improves their future performance, takes into account employee performance.
Markov Models Determines the pattern of employee movement throughout an organizations system of jobs.
Employee movement options 1. Remain in current job 2. Promotion to a higher classified job 3. A lateral transfer to a job with a similar classification level 4. Exit from the job 5. Demotion.
Movement analysis technique used to analyze personnel supply, specifically the chain or ripple effect that promotions or job losses have on the movements of others in an organization.
Retention Programs Organizations need to monitor and control levels of absenteeism and turnover. Key to experienced, high-performing employees in order to achieve organization goals.
Costs of replacing employees Hard costs: Ads, head hunter, recruiting fees etc. Soft costs: lost business, decreased quantity or quality of work, training time etc...
Retention enhancement programs Offering effective communication programs, designing meaningful jobs, offering more flexible and attractive work arrangements, mentoring and developing intellectual capital
Corporate Strategy organization- level decisions that focus on long-term survival.
Types of Corporate Strategies Restructuring - includes turnaround, divestiture, liquidation and bankruptcies Growth - incremental, international, mergers and acquisitions. Stability - maintains status-quo
Merger the consolidation of two organizations into a single organization.
horizontal merger the merging of two competitors
Vertical merger the merger of a buyer and seller and supplier
Acquisition the purchase of an entire company or a controlling interest in a company.
Consolidation two or more organizations join and forma a new organization
takeover one company acquiring another
Companies merger for three reasons 1. Strategic benefits 2. Financial benefits 3. Needs of the CEO or managing team
Strategic benefits for mergers Operating synergy, vertical integration, horizontal integration
Operating synergy the cost reduction achieved by economies of scale produced by a merger or acquisition.
Vertical Integration the merger or acquisition of two organizations that have a buyer seller relationship.
Horizontal integration the merger or acquisition of rivals.
What is culture? the set of important beliefs that members of an organization have
Assimilation occurs when one organization willingly gives up its culture and is absorbed by the culture of the acquirer or the dominant partner.
Post merger changes Demotion - some employees given less responsibility/territory or fewer lines to manage, Competition for the same job, termination
Downsizing Strategy strategy to improve an organizations efficiency by reducing the work, or changing the systems of the organization.
Downsizing activities undertaken to improve organizational efficiency, productivity, and/or competitiveness that affect the size of the firms workforce, its costs and its work processes.
Workforce reduction typically a short-term strategy at cutting employee numbers through attrition, early retirement, or voluntary severance packages and layoffs or terminations.
Why downsize? -Declining profit -business downturn or increased pressure from competitors -mergers -reduction in operating costs -decrease levels of management -getting rid of employee dead wood.
Work-redesign A medium-term strategy in which organizations focus onn work processes and assess whether specific functions, products, and/or services should be eliminated.
Systematic Change Long-term strategy that changes the organizations culture and attitudes, and employees values with goals of reducing costs and enhancing quality.
Inplacement Reabsorbing excess or inappropriately placed workers into a restructured organization.
Outplacement Providing a program of counseling and job-search assistance for workers who have been terminated
Procedural justice the procedures used to determine which employees will leave or remain with the organization.
Interactional Justice they type of interpersonal treatment employees receive during the implementation of the downsizing decisions.
Distributive justice the fairness of the downsizing decision
Emergent Strategy The plan that changes incrementally due to environmental changes.
Intended Strategy the formulated plan
Realized strategy Implemented plan
Turnaround Strategy Attempt to increase the viability of an organization.
Divestiture The sale of a division or part of an organization.
Liquidation The termination of a business and the sale of its assets
Bankruptcy Possessions of a business and its assets are disposed of in orderly fashion
What are growth Strategies? Incremental, International, Mergers and acquisition.
Mission Statement Articulates the purpose for which, or the reason an organizations exists.
Vision Statement The basic beliefs that govern individual and group behavior in an organization.
Values The basic beliefs that govern individual and group behavior in an organization.
Objectives An expression in measurable terms of what an organization intends to achieve.
Competitive Advantage the characteristics of a firm that enable it to earn higher rates of profit than its competitors.
Tangible Assets These are future economic resources that have substance and form from which an organization will benefit
Intangible Assets These are future economic resources that have been generated from past organizational events. These assets lack substance and form.
Capabilities A complex combination of people and processes that represent the firms capacity to exploit resources that have been specially integrated to achieve a desired result.
Core Competencies Resources and capabilities that serve as a firms competitive advantage.
Dynamic Capabilities The ability to adapt and renew competencies in accordance with changing business environment.
Value Proposition A statement of the fundamental benefits of the products or services being offered in the market place.
Strategy implementation The process of establishing the programs, budgets, and procedures for facilitating the achievement of the strategic goals.
Why strategic HR planning is important? 1. Employees help an organization to achieve success because they are strategic resources, and 2. the planning process itself results in improved goal attainment.
Low-Cost -Provider Strategy A firm competes on cost leadership, attempts to be the low-cost provider of a product or service. Product must be perceived by the consumer to be comparable to that offered by competition. (McDonald's)
Differentiation Strategy A firm will offer something unique and valuable to customers. Primary focus is on the new and different. With market research the firm can offer a product or service that commands premium price.
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Created by: athenaadele
 

 



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