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HRM EXAM 1

QuestionAnswer
Core Competencies: Organizational Assets: Physical, Intellectual Property, Financial, Human
Human Capital: The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organization’s workforce
Ability-motivation-opportunity model: Skill-enhancing (recruiting), motivation-enhancing (incentives), opportunity enhancing (work teams)
Unit Labor Cost: Computed by dividing the average cost of workers by their average levels of output
7 HR Functions: Strategy/planning, EEO, talent acquisition, talent management, total rewards, risk management/worker protection, employee/labor relations
Job Shifts: Gig economy: Most work is performed by freelance workers rather than full-time employees
Globalization: Face difficulties in strategy, people, complexity, and risk
Managing HR: Productivity, customer service and quality, innovation, organizational culture, etc.
HR Challenges: Skill shortages, changing workforce (race, gender, age), tech/social media
HR Generalist: A person who has responsibility for performing a variety of HR activities
HR Specialist: A person who has in-depth knowledge and expertise in a specific area of HR
HRM Competencies: Strategic thinking, application of data/tech, legal/administrative understanding; diplomacy, ethicality, and empathy
HRM Organizations: Society for HRM (SHRM), WorldatWork Association, etc.
HRM Certifications: HRCI Certification, SHRM Exams and Certifications, WorldatWork Certifications, etc.
HRM: creating systems to recruit, develop, reward, and retain to meet goals; helps improve performance, comply with regulations, and adapt to challenges
HR Roles: administrative, operational support/employee advocacy, strategic; priorities once emphasized strategy, shifting to administrative, operational, advocacy
Ethics and HR: differences in laws, politics, and cultures; globally must follow all systems; codes/policies; issues involving compensation, employee relations, and staffing
Created by: IanMcCormick20
 

 



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