People

Blue Ocean Strategy vs Red Ocean Strategy

"Blue ocean" strategies are an extreme example of creating competitive advantage through innovation. Enterprises pursuing a blue ocean strategy create a completely new arena, often within an existing industry. Businesses have competitive advantage because there are no other competitors—at least, for a while. "Red ocean" strategies, businesses compete in an existing marketplace.They win by taking share from their competitors, usually through differentiation or lower cost.

Advantages and Disadvantages of External Recruiting

(+) -Brings new ideas/talent into the organization -Helps the organization gain needed competencies -Provides cross-industry insights -May reduce training costs (experienced hires) -Helps the organization promote a diverse and inclusive environment (-) -May result in misplacements -May increase recruitment costs -May cause morale problems for internal candidates -Requires longer onboarding and orientation

Advantages and Disadvantages of Internal Recruiting

(+) -Rewards good work of current employees -Capitalizes on "familiarity"—candidates are already familiar with the organization's goals and culture and the organization is familiar with the candidates' KSAs and competencies -Potential to be more cost-effective than recruiting externally -Improves morale -Promotes career paths and adds to the EVP (-) -Can produce organizational inbreeding; candidates may have a limited perspective and/or no outside perspective -Places heavy burden on learning and development -May create a negative work environment as people compete for promotions

Advantages and Disadvantages of Internet Recruitment

(+) -Widens recruitment sourcing to include active and passive candidates. -Provides almost immediate response to job advertisements. -Increases the applicant pool. -Facilitates better candidate matching. -Allows more realistic previewing of the potential job and location. -Can target specialized skills. -Can target particular lifestyle or culture-fit groups. (-) -High volume of responses, many of which may be from unqualified candidates. -May require labor-intensive and costly filtering process to avoid responding to inappropriate or inadequate applications. -Data privacy regulations may restrict activities. -May exclude qualified candidates who would rather send a résumé. -May exclude populations in which technology is not readily available.

Guidelines for Building a Strong Employment Brand

-Determine existing perceptions of the organization -Identify main competition for high quality candidates -Assess organizational strengths and weaknesses -Develop employment brand -Ensure that the brand is consistent -Test brand and make modification -Execute brand -Reassess and revitalize brand -Reinforce brand

Issues When Administering Employee Surveys

-Employees will be brutally honest. If management cant accept criticism, don't do the survey. -There are some topics employees are always critical about, don't ask unless you are prepared to address (cafeteria food, pay, etc.) -HR will be scrutinized -Translation could be required -There are cultural differences that will impact results

Benefits of Employee Surveys

-Provide a direct means of assessing employee attitudes that would otherwise be unreported. -Improve employee relations by signaling to employees that their views are considered important. -Increase levels of employee trust—if results are acted upon. -Improve the satisfaction levels of customers—happy employees can translate to happy customers. -Detect early warning signs of workforce problems and/or sources of conflict.

Key Guidelines for Employee Engagement Survey

-Share its purpose! -Ensure confidentiality and anonymity -Ask a few questions every year -Keep language positive or neutral -Focus on behaviors -Beware of loaded or uninformative questions -Keep the length reasonable -Tailor the questions to org needs -Consider the questions you ask, it tells employees this is what they care about -Ask for a few written questions -Consider different types of surveys with different questions and frequencies -Communicate the results -Promote it -Use consultant who can review results with management -Establish a cross-sectional committee to review results -Create an action plan -Plan a follow-up feedback mechanism -Do not commit to another survey until you have analyzed and planned a response to feedback

Growth Strategy Options

-Strategic Alliance: companies agree to share assets to accomplish a goal -Joint Venture: two+ companies invest together in a new company thats jointly owned -Equity Partnership: One firm acquires partial ownership through purchase of shares -Merger/Acquisition: A firm purchases the assets of a local firm, outright resulting in expanding the acquiring company's employees and facilities -Franchising: A trademark, product or service is licensed for an initial fee and ongoing royalties. Similar to licensing but control is easier. -Licensing: A local firm is granted right to produce or sell a product. -Contract Manufacturing: A firm arranges for a local manufacturer to produce components or products (lowers labor costs) -Management Contract: A company is brought in to manage the daily operations of a local business. Big decisions still lie with owner. -Turnkey Operation: An existing facility and its operations are acquired and run by the purchaser without major changes -Greenfield Operation: A company builds a new location from the ground up. Brownfield Operation: A company repurposes an abandoned, closed or underutilized property

Common Mistakes in Strategic Planning

-Taking shortcuts: Poorly researched, vague or overly ambitious strategies are usually not successful. -Little follow-through: Often an exercise that is then put into a desk drawer because they are risky, require complex execution or are in conflict with current organizational culture. -Overreliance on comfort and familiarity: Risks must be taken methodically, with due diligence, transparently and with agreed standards and guidelines -Insufficient commitment from management: They might not be committed in involved. -Insufficient involvement from the rest of the organization: hard to convince the entire organization when only a few people were involved -Inadequate communication: Intent and decisions may not be shared with everyone.

Strategy

A strategy is essentially a plan of action for accomplishing an organization's long-range goals to create value. The strategy details separate activities (tactics or initiatives) that must be coordinated over time. The strategy must look both inward, toward the strengths and vulnerabilities of the organization, and outward, toward possible external influences, opportunities, and obstacles. Growth is not a strategy but the result of a successfully designed and implemented strategy. Serves as a guidepost for decision making at all levels

Total Rewards Strategy

A total rewards strategy is a plan or method implemented by an organization that provides monetary, benefits-in-kind, and developmental rewards to employees who achieve specific business goals. The inputs into the development of the total rewards strategy are HR's goals for recruitment, engagement, and retention. HR then applies its expertise to align these inputs with the requirements of the organization's strategy, the nature of the organization's culture, the realities of the labor market, and the necessities of legal compliance. The output is the total rewards strategy—how the organization will use its compensation tools to create and sustain a productive workforce and advance the organization's strategy.

Adult Learning Principles

Adults want a focus on "real world" issues. Emphasis on how the learning can be applied is desired. Adult learners will come with goals and expectations. Allow debate and challenge of ideas, but keep disagreements unheated. Adults expect to be listened to and have their opinions respected. Adults will wish to be resources to you and to each other. Adults seek out a learning experience because they have a need for the knowledge or skill being taught.

Strategic Management Success Factors

Alignment of Effort: Will the activities move the organization towards its goals? Control of Drift: Strategic drift is when an organization fails to recognize and respond to changes in the environment and necessitate strategic change. Drift occurs when organizations culture is too rooted in the past. HR should encourage vision and courage Focus on Core Competencies: Strategic organizations know what they are good at and focus their efforts on those competencies (their unique advantages and abilities).

Employee Value Proposition

An EVP answers the two-part question: "Why would a talented person want to start working for an organization and why would they want to continue to work for the organization?" An EVP creates a magnet to the organization's employment brand. The EVP must be aligned with the organizational strategic plan, vision, mission, and values and create an image that attracts people. Includes tangible and intangible

Geofencing (external recruiting method)

An advertising partnership that provides advertising in a certain area targeted to people who meet a certain criterion, such as spending a certain amount of time in one geographical area

Employment Brand

An employment brand is the persona an organization presents to current or prospective employees; it is the value an organization promises about the total employment experience. Where many traditional recruitment strategies are short-term, reactive actions to fill vacant positions, building a strong employment brand is longer-term and can provide a steady flow of applicants. An employment brand creates an image that makes people want to work for the organization.

PESTLE Analysis

Analysis of the external political, economic, social, technological, legal and environmental factors affecting a business Can be conducted for the entire enterprise, for individual units or for specific activities. Requires a broader and more long range perspective but also need to restrict the horizons and directions of analysis or you'll drown in data.

Organizational Values

Are beliefs that are important to an organization and often dictate employee behavior. Sometimes values are defined by the employees through workshops. This works well unless there is a gap between the organizations present values and where they want to be.

Guidelines for Recruiting Effectiveness

Be proactive; have a strategy Brand; energize applicants and employees Use realistic profiles Automate: have systems/databases in place Innovate: look for new opportunities Interact: show interest in candidates Promote: build an alumni base Adapt; to locations and cultures Champion Diversity: seek out diverse applicants Be Judicious: choose recruiting sources wisely Be Vigilant: recruit continuously

Strategic Statements and their Benefits

Before a strategy can be mapped, a destination must be chosen. This destination is an image of how the organization defines its purpose (its mission), the future it hopes to see (its vision), and the principles it agrees will guide its behavior (its values). Benefits: Can guide decision making, employees know what is expected of them and will act in accordance, they reflect the organizations culture and can sketch outlines of it, they contribute to the employers brand (for recruiting and onboarding) and stakeholders can challenge leaders to fulfill these pledges

Results of a Strong Employment Brand

Being known as an employer of choice with well-defined values. Generating a greater number of qualified candidates. Promoting diversity as a value proposition. Seeing an increase in the number of employee referrals of qualified candidates. Facilitating the creation of critical talent pipelines in the employment market.

Benchmarking

Benchmarking compares performance levels and/or processes of one entity with those of another to identify performance gaps and set goals aimed at improving performance. Benchmarking includes: defining KPIs, measuring current performance, identify benchmarks and secure their performance data, identify the gaps between oneself and the benchmark, set objectives and implement to reach. Benchmarks can be internal or external Benchmarking helps ensure that organizations are not simply measuring performance but improving it. It also encourages growth by focusing the organization's attention outside itself and its current practices.

Total Rewards Key Terms

Benefits: Tangible payments or services provided to broad groups of employees to cover issues such as retirement, health care, sick pay/disability schemes, life insurance, and paid time off, in addition to those required by law. Internal and external training and development that employees receive is also considered a benefit. Compensation: Refers to all other financial returns (beyond any tangible benefits payments or services), including salary and allowances. Perquisites: Compensation provided on an individual basis in the form of goods or services. Examples of perquisites include automobiles and mobile devices. Incentives or premiums: Payments in return for the achievement of specific, time-limited, targeted objectives. Often they are calculated as a percentage of base salary. Payment may be made in a lump sum or as ongoing payments over a specified period of time. Location, flexibility, social interaction, recognition, work variety, workload, work importance, autonomy, conditions and growth opportunities are all components of total rewards

Career Development versus Career Management

Career Development: Focused on the individual. Identify abilities and interests, plan career goals, communicate development preferences to manager, access career path options, make a plan, seek out learning and development opportunities Career Management: Focused on the organization. Identify staffing needs, assess career strategies and programs, create career paths/ladders, match or needs with individuals and provide on the job development, coaching and career training

Substantive (Pre-Employment) Assessments

Cognitive Ability Tests: Verbal, mathematical, logic, reasoning and reading skills Personality Tests: temperaments, traits, dispositions Aptitude Tests: General ability or capacity to learn Psychomotor Tests: strength, physical dexterity or coordination Assessment Centers: Assesses higher level managerial competencies. Complete exercises that simulate actual situations

Job Competencies

Competencies are clusters of highly interrelated attributes, including knowledge, skills, and abilities (KSAs), that give rise to the behaviors needed to perform a given job effectively. A set of competencies defining the requirements for effective performance in a specific job, profession, or organization is collectively referred to as a competency model.

Types of Work/Life Balance Programs

Convenience/Concierge Service: Dinner to go, dry cleaning, grocery service, referrals for household needs Employee Assistance/Development: Financial planning, legal assistance, mentoring, tuition assistance, referrals for counseling (focuses on immediate and long term needs) Family Assistance Programs: Adoption assistance, childcare assistance, parenting resources, elder care Flexible Work Arrangements: flexible hours, job sharing, part time work, telecommuting, flexible workweek LOA: Maternity, self funded leave Misc: Commuting programs, new mothers rooms, employer discounts, public transportation assistance Total Working Hours: Daily/weekly working hours, sick days, vacation days, limits on mandatory OT Wellness Programs: Disease management, tobacco cessation, weight management programs, fitness benefits

Cost of Hire

Cost of hire has been the traditional measure of recruiting costs, determined by taking the total costs of all hires and dividing that figure by the number of new hires. Total costs include; advertising costs, recruiter and agency costs, referral incentives, relocation bonuses, referral bonuses, screening costs, travel costs, and the costs associated with the salary and overhead of internal recruiting staff. Cost of hire lumps together the costs of hiring for all types of employees. Mixing types of employees can skew the true costs of hiring for a specific position.

Cost Per Hire

Cost per hire (CPH) is a measure of the effort exerted (defined in financial terms) to staff an open position in an organization. Cost per hire is a ratio of the total dollars an organization spends (in both external and internal costs) divided by the total number of hires in a specified time period. External Costs: advertising, agency fees, job fairs, travel Internal Costs: salary, benefits of recruiting, TA system costs

Cost Per Hire Internal vs Cost Per Hire Comparable

Cost per hire, internal (CPHI). CPHI defines a formula and methodology for creating the CPH measure for a single organization; it is not designed for comparison with other organizations' CPH data. Cost per hire, comparable (CPHC). CPHC defines a formula and methodology for creating the CPH measure for comparison across organizations. This metric uses a similar methodology to CPHI, but it incorporates a subset of data that is more likely to be used across organizations. CPHC is helpful in building comparisons of costs between organizations.

Characteristics of an Employment Branding Strategy

Create a positive, compelling image of the organization (e.g., social responsibility, conduct, ethics, reputation). Provide a clear and consistent message about what it is like to work at the organization (e.g., commitment to diversity and inclusion, innovation, teamwork, work/life balance, total rewards, opportunities for growth). Encourage the best potential candidates to apply for jobs. Reinforce the public's image of the organization. Use principles of marketing

Defined Benefit versus Defined Contribution Retirement Plans

DEFINED BENEFIT -Promises specific benefit amount upon retirement. -Vesting schedule is set up. (Vesting is the process by which employees gain permanent claim to a portion or all of their benefit. Employees are always 100% vested in their own contributions; employer contributions usually vest over time.) -Provides benefits based on service and perhaps on salary. -Amount of benefit is decided by a formula. -Provides a pre-specified level of benefits. -Employer bears the investment risk. DEFINED CONTRIBUTION -Amount of money that is to be regularly contributed to the fund is specified. -No promises are made about the future value of the benefit. -Employees will be entitled to 100% of their investment and the vested portion of the employer's contributions upon retirement. -Requires individual accounts for each employee. -Amount of the benefit at retirement will depend on the investment return. -Employee bears the investment risk.

Days to Fill

Days to fill (also known as time to fill) represents the number of days from when a job requisition is opened until the offer is accepted by the candidate. This information helps HR professionals determine a realistic amount of time for hiring new employees, and it helps managers plan how to best redistribute work to existing employees while the position is open. The metric is also useful in resource and budget planning. A consideration with the days-to-fill metric is that an emphasis on speed may increase recruitment costs and decrease quality. Likewise, overpromotion of cost efficiency may impact the quality of the hire and lengthen the process. Factors that influence time to fill: fulltime/parttime, level of employee, role of employee(specialized?), legal compliance requirements, labor market conditions, total rewards offerings

Six Sigma Project Management

Derives from quality principles. "Six Sigma" refers to a level of quality so high that very few errors occur. It emphasizes focusing on projects with a quantifiable return of value, encouraging team commitment to quality and involvement in problem solving, measuring results in a manner that allows empirical analysis, and fact-based decision making.

Job Specifications

Describe the minimum qualifications necessary to perform a job. A job specification should reflect what is necessary for satisfactory performance, not what the ideal candidate should have. Specifications must be written to ensure compliance with all local laws (including nondiscrimination policies)

Employment Life Cycle (ELC)

Describes all the activities associated with an employee's tenure in an organization Recruitment, integrations, development and transition.

Individual Development Plan (IDP)

Details an employee's intentions and learning outcomes as well as the support necessary to meet the employee's tangible growth goals. IDPs should incorporate components of adult learning, organizational development, and corporate culture. Includes their career goals and objectives, development objectives, training and development interventions, the outcomes (how it will be measured) and signatures/dates.

Contingent (Pre-Employment) Assessments

Drug Tests Medical Exams License checks While some assessments may be used during initial screening or as substantive or contingent assessments, there are some selection tests that should only be used as contingent assessments for legal compliance. Drug tests and medical tests are two examples. Make sure a signed release is completed first.

Types of Employee Surveys

Employee Attitude Survey: Perception of company culture, company image, quality of management, effectiveness of compensation and benefits, safety or health concerns Employee Opinions Survey: Measure data on specific issues-- employee processes, policies, safety procedures, or other issue the employer is evaluating Employee Engagement Survey: Focuses on job satisfaction, commitment and morale

Employee Attrition

Employee attrition generally refers to the loss of employees due to reasons other than firing and other employer-initiated events. Attrition Measures: Overall attrition (voluntary and involuntary), attrition of key talent, new hire attrition Central to an organization's workforce planning and strategy. Impacts current staff, job satisfaction and employee engagement, and an organization's ability to attract talented people for job vacancies.

Employee Engagement

Employee engagement is a broader concept than employee satisfaction, commitment, and morale. It is an outcome-driven concept—certain employee and employer/workforce characteristics can lead to employee behaviors that positively influence individual- and business-level performance. Driven by: vigor, dedication, absorption

Execution Stage of Project Management Steps

Ensure that the project meets its goals for schedule, budget and quality by: -Establishing and maintain channels of communication -Providing leadership; keep group focused, model behaviors -Clears obstacles; identify issues (conflicts, poor performance) and take steps to correct -Manages internal and external stakeholders; make sure expectations are understood and realistic, make sure stakeholders are satisfied -Monitors and controls progress; Measurement cannot wait until the end. Milestone can be set to judge progress

Compensation Approaches

Entitlement-oriented: Some organizations promote a caring, protective feeling and want employees to feel as if they are a part of the family. These organizations feel that employees are entitled to benefits such as health care, employee assistance, or disability insurance as a condition of employment. In general, as benefits increase, there is less emphasis on individual employee contributions and responsibility and more emphasis on the success of the organization as a whole. Contribution-oriented: The compensation programs of other organizations are more performance-driven, putting emphasis on the performance and contributions of individual employees. These compensation systems emphasize performance-based pay, incentives, and shared responsibility for benefits. Few organizations are based in only one approach. trend is toward the contribution approach.

Environmental Scanning

Environmental scanning may be defined as a process of systematically surveying and gathering data, from both internal and external sources, that can be analyzed to identify opportunities and threats and to strengthen strategic plans and goals. Types of environmental scanning; PESTLE analysis, SWOT analysis, the growth share matric and scenario analysis

Explicit versus Tacit Knowledge

Explicit: more easily shared, might be shared through a database or taught through a learning intervention Tacit: personal and experience based, more challenging to quantify

Balanced Scorecard Approach to Identifying KPIs (4 key areas)

Financial Customer: The ability of the organization to provide quality goods and services that satisfy customers Internal Business Processes: Focuses on the internal business results that lead to financial success and satisfied customers Learning and Growth: looks at actions that will prepare the future organization for success Purpose of the balanced scorecard is to acheive balance in three key areas: financial/nonfinancial indicators of success, internal/external constituents in the organization and lagging/leading indicators of performance

Cost Leadership Strategy

Firms that pursue a strategy of cost leadership aim at capturing market share within their industry by virtue of lowest price. Firms commit to: -Creating economies of scale, where costs decrease with every increase in output -Share knowledge and information so that employees acquire necessary skills and things are done quickly -Eliminate what doesn't create value or slows time -Lower operating costs (energy efficiency, cheap labor) -Design products/services that can be easily replicated -Adjust capacity to demand quickly -Create a supportive workforce (effective and motivated)

Differentiation Strategy

Firms that pursue a strategy of differentiation aim for being able to charge a higher price by offering something different or by offering the same thing in a different way from competitors in their industry or market—or by creating the perception that a product is different through superior marketing.

Focused Strategy

Focus strategies apply cost leadership or differentiation within narrow industry segments or niches. Focusing on specific types of customers, locations etc.

Lean Project Management

Focuses on eliminating waste by: -Maintaining a tight focus on the intended value of the project. -Empowering the team to make decisions. -Analyzing and solving problems rather than working around them. -Emphasizing continuous learning.

4 Steps inn Strategy Creation

Formulation: Leaders gather and analyze internal and external information to determine the organizations current position, capabilities, opportunities and constraints Development: Develop strategic goals and tactics that will optimize success given the environment, opportunities and constraints-- the strategic plan Implementation: Implementation of tactics (the process of strategic management) that has clear objectives, coordination, support and control. Motivate employee to get on board. Evaluation: Continually evaluate results to make sure that activities remain strategic and that they are effective.

Drivers of Employee Engagement

Four Universal Drivers: -The work itself, opportunities for development -Confidence and trust in leadership -Recognition and rewards -Organizational communication that is delivered timely and orderly. Others: engaged leadership, talent focus (career development and performance management), the work (autonomous, work life balance), the basics (job security, safety), agility (collaboration, diversity and inclusion)

Errors in Appraisal Management

Halo/horn effect. The halo effect may occur when an employee is extremely competent in one area and is therefore rated high in all categories. Conversely, the horn effect may occur when one weakness results in an overall low rating. Recency.: Occurs when an appraiser gives more weight to recent occurrences and discounts or minimizes the employee's earlier performance during the appraisal period. Primacy: Occurs when an appraiser gives more weight to the employee's earlier performance and discounts or minimizes recent occurrences. Bias. When an appraiser's values, beliefs, or prejudices distort ratings (either consciously or unconsciously), the error is due to bias. Strictness. Some appraisers may be reluctant to give high ratings. Leniency. Leniency errors are the result of appraisers who do not want to give low scores. All employees in this case are given high scores. Central tendency. Central tendency errors occur when an appraiser rates all employees within a narrow range, regardless of differences in actual performance. Contrast. The contrast error occurs when an employee's rating is based on how his or her performance compares to that of another employee instead of on objective performance standards.

Job-Content-Based Job Evaluation

In job-content-based job evaluation, the relative worth and the pay structure of different jobs are based on an assessment of their content (e.g., responsibilities and requirements) and their relationship to other jobs within the organization. More simplistic internal job evaluation approaches address how jobs are broken down into and assessed by their different elements or factors (decision-making relationships).

Management by Objectives (MBO)

In management by objectives (MBO), the employees help set objectives for themselves, defining what they intend to achieve within a specified time period. The objectives are based on overall goals and objectives for the organization. In this way, the goals and objectives are not imposed upon the employee but still reflect the goals of the organization.

Base Pay Systems

In single-rate pay or flat-rate pay systems, each incumbent of a job has the same rate of pay, regardless of performance or seniority. In a time-based step-rate pay system, the employee's pay rate is based on longevity in the job. Pay increases occur on a pre-determined schedule. In a performance-based pay system, the individual employee's performance on the job is the basis for the amount and timing of pay increases. A performance-based pay system is commonly called merit pay or pay for performance (P4P or PfP). In a productivity-based pay system, pay is determined by the employee's output. Examples include the straight piece-rate and differential piece-rate systems, both of which are most frequently used in manufacturing environments. In person-based pay, employee characteristics, rather than how the job is performed, determine pay. In such systems, two employees may perform similar tasks, but the person with superior knowledge or skill mastery receives more pay. Based on Knowledge, Skills or Abilities (KSA)

IPO (Input-Process-Output) Model

Inputs > Process > Outputs Inputs: Factors that effect the outcome. Can include; internal and external constraints that make the chosen strategy more difficult to achieve (culture that doesnt align with quick decision making or a workforce that lacks skills) and resources and external conditions that will enhance the goals (like financial reserves) Process: Includes all methods the organization can apply to maximize its opportunities and manage constraints (work processes, workforce skills --analysis, communication, resource control and quality control) Outputs: the desired strategic effect (ex: expansion, new markets, increased sales, increased diversity, etc.)

Bonafide Occupational Qualification (BFOQ)

Is a legitimate job criterion that employers can legally and permissibly use to hire a foreigner (e.g., bring an expatriate into a country for a job). Employers who use the BFOQ defense must prove that all or substantially all local employees cannot perform the key duties and responsibilities required by the job position.

Realistic Job Preview (RJP)

Is any part of the selection process that provides an applicant with honest and complete information about a job and the work environment—a clear picture of what a job will be like if the applicant is hired Objectives: Give as much information as possible, portray the job objectively (favorable and unfavorable) and increase potential of a good match A good RJP: accurately represents realities, promotes healthy exchange, encourages self selection, increases job satisfaction, helps prevent disappointments, reduces post-entry stress and reduces turnover

Agile Project Management

Is used when the assumptions on which a project is based are unclear or may evolve as project work proceeds. The project focuses on iterations of the deliverables—completing one iteration and then using customer input to plan the next iteration.

Steps in Designing a Compensation System

Job Analysis: Identify job tasks and qualifications of incumbents Job Documentation: Creates job descriptions/specifications Job Evaluation: Establishes value of jobs within organization Pay Structure: Establishes pay grades/ranges

Practices to increase Employee Engagement

Job Enrichment; meaning, variety, autonomy, coworker respect Learning and Development: Development training to increase performance, satisfaction and self efficacy Strategic Compensation: Equitable compensation, pay for performance or competency based pay. Performance and Career Management: Align with company's objectives, provide feedback and recognition, appraisals free of bias and recognition and appreciation for extra contributions

Job Description Elements

Job Identification: Title, department, date is was created, reporting Position Summary: Brief overview; purpose and objectives, expected results, degree of freedom Minimum Qualifications Duties and Responsibilities: True description of the work being performed Success Factors: Personal characteristics that contribute to an employees ability to perform the job Physical Demands Working Conditions Performance Standards

Power Distance and Charachteristics

LOW POWER DISTANCE -Decisions regarding who should participate in training are based on developmental needs or skill deficiencies. -An individual's or group's training needs are based on formal performance evaluations and specific developmental objectives. -Needs analyses are conducted participatively. HIGH POWER DISTANCE -Decisions regarding who should participate in training may be based on group membership. -Individual or group skill deficiencies or developmental needs may not be expressed. -Participation in training may be driven by group affiliation rather than individual need. -Needs analyses may be less effective if conducted participatively. -Individuals may be reluctant to discuss or share skill deficiencies or developmental needs because this causes them to lose face.

Impact of Maturity in Location on TA

Maturity pertains to the experience, local market development, and skill sets for a particular international location. Each location has its own history, tradition, and patterns. Expatriates are used for initial staffing, perhaps of a greenfield operation, because local talent is not yet ready. Then, as the local labor force becomes more skilled, the percentage of local nationals increases significantly. Over time, local nationals can be sent to other locations to fill specific staffing needs, just as employees from headquarters did before them

Criteria for Measuring Project Management

Measuring performance helps organizations determine whether strategic initiatives have been implemented as planned, whether the initiative is having the intended effect, and whether the investment in the initiative is returning benefits to the organization. -Effectiveness: Is the initiative accomplishing the objective? -Efficiency: Is the initiative producing results that exceed the investment in it? -Impact: Is the initiative helping to move the organization toward its strategic goals? -Setting KPIs help organization make the right measurements -Don't measure everything. Focus on what supports the strategic goals -Blend past, present and future performance -Be mindful of all stakeholders -Reexamine what you're measuring regularly

Mission and Vision Statements

Mission Statement: specifies what activities the organization intends to pursue and what course management has charted for the future—a concise statement of the organization's strategy. It communicates a sense of purpose and describes the value the organization intends to deliver to the stakeholders. The language of the statement often expresses a sense of priorities. Vision Statement: A vivid, guiding image of the organization's desired future—the future it hopes to attain through its strategy. The vision statement is the ultimate picture of what leadership envisions for the organization. Goal is to motivate and inspire. Can be aspirational.

Inside Moonlighting (internal recruiting method)

Moonlighting refers to an employee who holds a second job outside of normal working hours. Inside moonlighting occurs when a worker is enticed to take on a second job in the organization. It is ideal when there is a short-term need and the amount of additional work is minimal. Moonlighting is so common in some organizations that HR departments have had to establish moonlighting policies.

Job Evaluation Methods

NONQUANTITATIVE: Job Ranking and Job Classification Job ranking: involves establishing a hierarchy of jobs from lowest to highest based on each job's overall value to the organization. Ranking evaluates the whole job, rather than parts of it, and compares one job to another. If there are many jobs to evaluate, a paired-comparison method may be used in which each job is compared with every other job being evaluated. Simple. Quick. Inexpensive. Subjective. The job classification method writes descriptions for each class of jobs. Individual jobs are then put into the grade that best matches their class description, based on the judgment of the evaluator. Understandable. Only as good as the grade descriptions. QUANTITATIVE: Point Factor System The point-factor system is a form of quantitative evaluation. It is the most commonly used method of job evaluation. The compensable factors chosen for the evaluation must reflect the nature of the job being evaluated. For example, hazards and working environment would be pertinent factors in a manufacturing setting but not as relevant in most office jobs.The factors most commonly used in point-factor evaluations include: Skills. Responsibilities. Effort and physical demands. Working conditions. Supervision of others.

Levels of Strategy in Organizations

Organizational strategy focuses on the future of the organization as a single unit—a general vision of the future it seeks and its long-term goals. Business unit strategies address questions of how and where the organization will focus to create value. Operational strategy reflects the way in which organizational and business unit strategies are translated into action at the functional level through functional strategies. Strategic planning and management processes are repeated at each level, and unit and functional leaders must assume the same strategic mindset that the organization's leaders have adopted.

Training and Development Trends

Organizations now recognize that the majority of adult learning occurs through one's experiences on the job and in life. It occurs through activities performed and relationships with others. Experiential learning in the workplace should undergo the same rigor as training, and it needs to be set up "behind the scenes" to facilitate its greatest impact. Historically, most corporate learning programs followed a "push" model. An employee was invited to a training session in a classroom at a specified time, listened to a series of lectures, and was sent back to work. Content was "pushed" to employees. In this "pull" model, learning and development is a continuous process, easily accessible anywhere and anytime—commuting to or from work, during work, or outside of work hours—and delivered via devices such as mobile phones, tablets, and laptop computers in formats as varied as videos, blogs, games, quizzes, simulations, podcasts, or slide shows. "Pull" training is usually linked to acquiring skills, abilities, knowledge, and competencies needed to better perform one's job.

Internal Comp Surveys

Organizations that have available resources and expertise may choose to develop their own internal survey to allow for more control over the survey technique and data analysis. The advantage of an internal survey is having the ability to shape the design, administration, data analysis, and reporting as needed by the organization. The disadvantages include the following: competitors may not be willing to cooperate and to share their pay structures. Matching the positions may be difficult.

PESTLE Analysis Categories

POLITICAL: Regulatory environment, taxation policies, immigration policies, governance legislation, levels of corruption ECONOMIC: Business forecasts, labor availability and cost, inflation, household income, consumer confidence, cost of capital SOCIAL: Demographic shifts in age, ethnic background, education, housing patterns, patterns of discrimination, family structure, values, media use, lifestyle habits TECHNOLOGICAL: Innovative technology, unequal access to technology, new tech standards LEGAL: Trends in patent law, increased civil litigation in workplaces, increased shareholder legal action, unequal access to legal representation, cost of defense, trends in corporate negligence ENVIRONMENTAL: Decreasing carbon consumption limits, increased use of alternative fuel, increased interest in environmental impact

Compa-Ratio

Pay Rate divided by the midpoint of the range Compa-ratios below 100% (expressed as a compa-ratio of less than 1.00) mean that employees are paid less than the midpoint. This may occur when an employee is new to the organization/job, a poor performer, or the organization is a lag organization. Compa-ratios above 100% (1.00) mean that wages exceed the midpoint. This is likely to occur when: an organization is a lead organization, managers aren't following increase policies, employees are tenured/high performers

Perquisites (perks!)

Perquisites are special incidental payments, benefits, or privileges given to individual employees, over and above their regular rewards. When awarded to senior-level job positions, perquisites may also be called executive perks or fringe benefits. Examples: discounts, free products, mobile devices, professional certifications or memberships, training programs, tuition assistance, housing, company car, club memberships or meal allowances.

Project Management Stages

Planning Executing Closing

Closing State of Project Management

Projects should be assessed at their completion to evaluate whether the project investment yielded the desired results. Has the project achieved the desired outcome as defined in its objectives? Was the project managed efficiently in terms of use of time and resources? Project close should also include team debriefing sessions to document what worked and what didn't and what unexpected problems arose. What can be improved for next time?

Recruiting Yield Ratios

Qualified Applicant/Total Applicants Minority Applicants/Total Applicants Female Applicants/Total Applicants Offers Extended/Offers Accepted Offers Extended/Qualified Applicants Offers Extended/Final Interviews

Practices to Increase Employee Engagement During Hiring

Recruiting: Target those who are likely to find the work rewarding, communicate the attractive features of the job, encourage those not suited to SSO, highlight the benefits, acknowledge worklife balance Employee Selection: Select the right individual (ability, fit, behaviors) , present selection hurdles that are relevant, create a good first impression Onboarding: Describe expectations, introduce them to coworkers with something in common, create a buddy program, dont discourage a reasonable amount of socializing, provide the tools/resources necessary, give a tour

Red-Circle and Green-Circle Rates

Red-circle rates are employee pay rates above the range maximum. Green-circle rates are the opposite of red-circle rates—an employee's pay is below the minimum of the range.

Remuneration Surveys

Remuneration surveys collect information on prevailing market compensation and benefits practices, including starting wage rates, base pay, pay ranges, other statutory and market cash payments (e.g., overtime pay and shift differentials), variable compensation (e.g., short- and long-term incentive plans), and time off (vacation and holiday practices). Can be internal or external.

SMARTER Metrics used to measure performance

SPECIFIC MEASUREABLE ATTAINABLE RELEVANT TIMEBOUND EVALUATED REVISED

Forms of Career Development

Self Assessment Tools Apprenticeships Job Rotation Job Enlargement; more similar tasks Job Enrichment; more tasks like planning, organizing, tracking and reporting Project/Team Participation Internal Mobility; Promotions, demotions, transfers, relocations Dual Career Ladders: more than one option (usually one supervisory and one not) Coaching Mentoring College/University/Association continuing education programs

ADDIE Model

Standard instructional design model that is conducive to any type of learning Analysis (of needs): organizational, task and individual Design: goals and objectives are developed Development: materials, format? Implementation: Execution; pilot, instructor choice, logistics Evaluation: Reaction, learning, behavior results.

Strategic Management

Strategic management includes the actions that leaders take to move their organizations toward the goals set in strategic planning and to create value for all stakeholders. It makes incremental adjustments to the plan as needed and to the organization itself. These adjustments often represent the innovative capacity of the organization. Strategic Management provides an organization with consistent long term goals, consistent decision making by leaders , better external and competitive vision and better internal vision. Strategic planning and management are distinguished by the way assets, structure, and policies are focused and integrated to achieve goals.

Strategic Planning

Strategic planning is the process of setting goals and designing a path toward a competitive position. The strategic plan helps create alignment of efforts and provides a layer of control. The strongest reason for senior management to engage in the strategic planning process is a more focused allocation of resources and potentially increased profitability.

Types of Interviews

Structured: Every candidate is asked the same questions, the interviewer is in control. Makes it easier to compare answers Unstructured: Informal, open-ended, flexible, and free-flowing. More social. Can make it difficult to compare. Also called non-directive interviews Behavioral: Focuses on how applicant previously handled situations. Based on premise that past performance is a predictor of future performance. Competency Based: Ask questions based on real life situations Group Interviews: Panel or fishbowl style. Experts ask their own questions. Fishbowl is usually interactive in a work setting. Stress: Comes in many forms, from mildly provocative to aggressive interview tactics that put a candidate on the defensive. The objective is to see how the candidate reacts under pressure

Job Classification

Such classification is particularly critical to the proper administration of compensation and benefits programs-- exempt, nonexempt, fulltime, parttime, seasonal, etc.

5 Disciplines of a Learning Organization

Systems Thinking: a conceptual framework that makes patterns clearer and helps one see how things interrelate and how to change them Mental Models: are deeply ingrained assumptions that influence how we understand the world and how we take action Personal Mastery: the high level of proficiency in a subject or skill area Team Learning: Aligning and developing the capacity of a team to create the results its members desire Shared Vision: a look into the future that fosters genuine commitment and is shared by all who need to possess it.

Systems Thinking

Systems thinking recognizes that organizations are composed of interacting and sometimes interdependent parts that together create a dynamic internal environment. Each part is differentiated by the role it plays in the system and its own particular challenges, values, and processes—referred to as the differentiation of units. The system is dynamic, changes in one part can affect the other parts-- top down and bottom up. There is also the external environment that impacts the organization too (laws, economic and social conditions). Any one change that affects one part of the organization must be carefully examined for possible repercussions on the other parts.

Technology Based Systems versus Soft Systems

Technology-based systems: these can include programs or databases that employees can access. A collaborative Wiki could be used to allow employees to add and edit information. Technology-based systems are great for retaining explicit knowledge but not as effective for tacit knowledge. Softer systems: include meetings or other activities that take place to share knowledge and help people connect with one another. There are numerous examples of softer systems such as post-project "lessons learned," job sharing, cross-training, mentoring, shadowing, Internet messaging, various social media applications, or communities of practice (CoPs) where groups of individuals with shared interests come together in person or virtually to tell stories, share and discuss problems and opportunities, discuss best practices, and so forth. Stay interviews, exit interviews, and alumni networks are also examples of softer systems.

70-20-10 Rule for Developing Leaders

The 70-20-10 rule proposes that to develop leaders it is important to engage them in challenging assignments (70%), developmental relationships (20%), and coursework and training (10%). Leadership development strategies can be formal or informal. Giving high-potential employees challenging positions in an area where they have little expertise will force them to identify collaborative resources and to figure out what to do on their own.

Behaviorally Anchored Rating Scale (BARS)

The BARS method was designed to overcome the problems of category rating by describing examples of desirable and undesirable behavior. Examples are then measured against a scale of performance levels Clearly indicating the behavior associated with each level of performance helps reduce some of the limitations inherent in other appraisal methods. Example: A '5' for a receptionist is being cheerful, clean, organized, very responsive, prioritizes and completes everything. A '1' is makes frequent mistakes, the desk is disorganized, the have trouble completing things and don't greet customers positively. BARS allows for accurate gauges of performance, clearer standards Can be challenging to develop

SWOT Analysis

The SWOT analysis is a simple and effective process for assessing an organization's strategic capabilities in comparison to threats and opportunities identified during environmental scanning. Can be used to analyze an organization, products and services or individuals Strengths and weaknesses refer to the internal environment Opportunities and threats refer to the external environment Strengths and opportunities can be leveraged; weaknesses and threats are problems that must be solved and are often more difficult to control.

Performance Appraisal Comparative Methods

The appraiser directly compares the performance of each employee with that of the others. Examples: Ranking: Rank employees highest to lowest Paired-Comparison: Each employee is paired with every other employee and compared. Forced Distribution: Employees are rated and placed at different percentage points on bell curve.

Performance Appraisal Narrative Methods

The appraiser submits written narrative performance appraisals. Examples: Essay: Essay describing performance Critical Incidents: Record of employee actions in kept in addition to actual ratings, positive and negatives Field Review: HR interviews supervisor about each employee and compiles ratings

Strategic Fit

The consonance or compatibility of an organization's strategy with its external and internal environments, especially with regard to the goals and values it chooses and the resources and capabilities that can be deployed toward strategic goals. When strategic fit exists, an organization's activities are consistent with the strategy, they interact with and reinforce each other, and they are "optimized" to reach the strategic goal. Each organizations strategy must describe their strategic position (a position in which it enjoys a competitive edge over rivals) and where an organization will compete in terms of market and industry

Learning Organization

The learning organization is a systems-level concept in which an organization is characterized by its ability to adapt to changes in its environment and respond quickly to lessons of experience by altering organizational behavior. In a learning organization: -Learning is accomplished by the organizational system as a whole (all levels) -Systems thinking is practiced -Employees network in and out of the organization -Change is embraced, risk is tolerated and failures are viewed as opportunities to learn -The organization adapts and changes as environments change

Performance Appraisal Category Rating Methods

The least complex means of appraising performance, in category rating methods the appraiser marks an employee's level of performance on a designated form. Examples: Graphic Scale: Appraiser checks box on sale for each task listed Checklist: Appraiser checks statements or words off list that describe the performance of the employee Forced Choice: The appraiser is required to check two of four statements; one that the employee is most like, one that they are least like

Lagging and Leading Indicators

The most effective evaluation of strategy focuses on leading indicators of performance rather than lagging indicators. A leading indicator is predictive in that action in this area can change future performance and help achieve success. For example, employee satisfaction indicates future retention rates and associated costs of hiring. A lagging indicator describes effects that have already occurred and cannot be changed. For example, the turnover rate indicates the success or lack of success in employee engagement.

Divestiture and its Benefits

The selective "pruning" of parts of the organization that are underperforming or that are no longer in line with the organization's strategy. Divestiture offers a number of benefits to the parent company: -perceived value of a subsidiary may be increased. -investments may be recouped through sale -activities can refocus on new priorities -risks that might derive from financial positions can be managed Challenge is to make sure that the organization retains key talent during and the process. Steps to Divestiture: Identify the candidate for divestiture, identify a target buyer, restructure, execute the deal.

Compensation Philosophy

The starting point for developing a total rewards strategy is the organization's compensation philosophy. A compensation philosophy is a short (but broad) statement documenting the organization's guiding principles and core values about employee compensation. Ideally, development of the compensation philosophy should precede development of the total rewards strategy, because the philosophy essentially serves as a mission statement that informs the organization's compensation strategies.

Growth Share Matrix

The vertical axis of the growth-share matrix indicates the rate of growth in this area, while the horizontal axis indicates the size of market share. The assumptions are that a growth trend (rather than stasis or decline) predicts greater value and a larger market share indicates a stronger competitive position. A business line that is growing and has a dominant share (a "star") has high value. A static but dominant business line (a "cash cow") creates value reliably but shows little opportunity for growth. "Dogs" are consuming resources without offering strong value or future growth. "Question marks" could be winners or losers; their future is unclear.

Two Types of Business Strategies

There are two ways an organization can create competitive advantage-- change the external environment (customer demand, prices or technology) or change inside the organization itself (how they create, change and innovate). If there is stasis in the industry/market/organization then there is no opportunity. Generally those industries become commodity markets.

Employee Wellbeing and Engagement

There is evidence to suggest that engagement is more likely to be sustainable when employee well-being is also high Well being: physical (health, stamina, energy), psychological (stress, optimism, confidence) and social (relationships, work/life balance, respect) Highly Engaged & High Well Being= most productive and happy Highly Engaged & Low Well Being= likely to leave. highly productive but high burnout Low Engagement & High Well Being= Likely to stay but not committed to goals Low Engagement & Low Well Being=contribute the least

Employee Engagement Metrics

There is no specific calculation for measuring engagement. What the HR professional can do is tie the investments made in career development, compensation, management training, and so on back to employee engagement, which ties back to the profitability of the company. HR can measure specific outcomes of engagement action plans. Examples: Absentee rate, workers comp incident rate, voluntary turnover rate, revenue per employee, yield ratios.

Imperatives forGlobal Learning and Development

Think and act globally Become an equidistance global learning organization; learn from all cultures in all ways Focus on the global system, not its parts Develop global leadership skills Empower teams to create a global future Make learning a core competency for the global organization Make development a cornerstone strategy and regularly reinvent the organization.

Performance Appraisal

This process measures the degree to which an employee accomplishes work requirements. Three Purposes: provide feedback and counseling, allocate rewards and opportunities and help determine employees aspirations and planning developmental needs They can improve productivity, identify training needs, communicate expectations and foster commitment and mutual understanding.

Total Rewards

Total rewards encompasses all the direct and indirect remuneration approaches that employers use to attract, recognize, and retain workers. Stated another way, total rewards refers to all forms of financial rewards that employees receive from their employers. Direct compensation (pay systems) primarily involves cash-based rewards, while indirect compensation (benefit and recognition programs) typically includes noncash rewards.

Training Versus Development

Training involves a process of providing knowledge, skills, and abilities (KSAs) specific to a particular task or job. It is appropriate when skills and knowledge are missing and the individual has the willingness to learn. It provides skills that can be used immediately and is an excellent solution for solving short-term skill gaps. Developmental activities have a long-term focus on preparing for future responsibilities while increasing the capacities of employees to perform their current jobs. These activities are broader in scope than training activities.

Types of Employee Engagement

Trait Engagement: Inherent personality based elements that make an employee predisposed to being engaged State Engagement: Influenced by workplace conditions or practices (task variety, influencing work decisions). Can be impacted by management Behavioral Engagement: Effort employees put into their jobs which leads to greater value and performance. It can occur when both trait and state are present. Transactional Engagement: Where an employee appears engaged but isnt. They are acting engaged because thats what is expected of them.

Performance Standards

Two elements: Behaviors: What the organization wants the employee to do Results: What the organization wants the employee to produce or deliver. Standards should be objective, measurable, realistic and stated clearly in writing. Should include measurements for quality, quantity, timeliness and cost-effectiveness.

HR Budgets

Two types: operational budget that funds ongoing activities and the strategic budget that funds projects aligned with the organization strategic goals The first thing HR leaders must do in the process of allocating resources to strategic activities is to compare previous/current activities and budget allocations with what will be needed to support the proposed organizational strategy. Having several years of HR data to establish estimating rules of thumb and trends in expenses will be helpful in defining a new budget.

Critical Path Analysis

Type of project schedule Uses information about start or mandatory end dates, the logical relationship of tasks (what must be completed before something else can start) and the length of each task to find the earliest completion date (or latest start date).

Gantt Chart

Type of project schedule Represent the scheduling of tasks visually, showing the length and timing of specific activities. They can help identify problematic conflicts in activities or gaps that can be exploited to condense the schedule.

Critical Chain Project Management

Used when resources cannot be increased to meet deadlines. For example, an HR department may be able to allocate no more than 10 hours per week of staff time to do project work. Project activities are scheduled accordingly. Buffers are built into the schedule both to account for dependencies (i.e., having to wait for another task to be completed) and to allow some room for variance for the estimated task requirement. Once the buffers are set, however, they are strictly enforced.

Characteristics of Internet Recruiting

-A voluminous number of service provider . -Professional recruiters allowing clients to search data with more effective skills matching. -Electronic screening of applications. -The technology to conduct interviews over the Internet, incorporating video. -Live chat forums with organizations answering candidate questions. -The ability of candidates to make presentations via the Internet.

Discretionary (Pre-Employment) Assessments

-Applicant characteristics that are assessed are typically very subjective and rely heavily on the intuition of the decision maker. -Organizations intent on maintaining strong cultures may consider assessing the person/organization match.

Primary concerns of human resource management in talent acquisition

-Assimilating workforce planning and employment strategies. -Addressing both short- and long-term needs of the organization so that staffing requirements can be anticipated in a timely manner. -Hiring for cultural fit.

Types of Organizational Cultures

-Authoritarian: Power is with top level management. Employees have no involvement. -Mechanistic: Formal rules and standards. Communication processes follow the direction of the org. -Participative: Collaborative decision making is embraced. -Learning: Org encourages learning, knowledge and competence. -High Performance: Talent is championed. Innovation, customer-centric strategies and relationships are encouraged.

Planning Stage of Project Management Steps

-Work with stakeholders to define strategically aligned project objectives: Objectives are used to create metrics that allow evaluation. Its possible to meet objectives but not have strategic merit -Define the project deliverables: Can be broken down further into units that represent the essential work to be done to accomplish those deliverables-- the work breakdown structure -Create a project schedule: Balance of competing and interdependent interests (time, quality and resources). If time and quality are critical, then resources must be added. If quality and resources are limited, then more time will be required. -Assemble a team: Team with requisite skills and communicate to them the projects connections to the strategy, its objectives, their roles and responsibilities.

Purposes of Job Descriptions in a Global Environment

-Intracountry and crossborder transfers: help match employees with the right skills -Career management and succession planning: global career paths can be mapped out -Compensation studies: compare salaries across countires -Statistics for jobs across the organization: current and projected needs -Comparison and alignment of processes across countries

Challenges of Global Job Descriptions

-Lack of global competency model -Varied interpretation of job functions -Varied expectations of similar jobs -Varied approaches to on the job development -Different work environments imposing different requirements for the same job: working conditions, unions, works councils -Varied compliance requirements that necessitate through due diligence: employment and labor laws and permission to work

4 Key Areas of Employee Engagement Assessment

-Leadership Characteristics: Cares about employees, communicates goals, is trustworthy -Team Practices: Understands customers, excels at strategy, rewards employees for adding value -Organizational Values: Values employees, customer focused, gives back to employees and society -Work Itself: Connected to strategy, challenging and meaningful Additional Measures: Career development, relationship with management, compensation and benefits and work environment

PESTLE Analysis Process

1. Assemble a list of possible events or trends. Could be done through brainstorming, interviews with experts or literature reviews 2. Identify potential impacts on the organization. Should be positive, negative, immediate and long range. 3. Research the impacts more thoroughly to understand possible causes, dimensions and connections to other events or trends. 4. Assess the importance of the possible impacts based on the strength of the data

5 Elements of a Communication Strategy

1. Communication outwards towards the team; leaders must communicate actions individuals must take and the decisions they are empowered to make 2. Communication inwards towards leaders; leaders need to know whats going on- whats working and what isnt 3. Leadership support of decisions made by subordinates (rather than second guessing) 4. Free flow of information across org boundaries 5. Enough information to allow team members to connect their work to the strategy

Broadbanding

collapses many traditional salary grades into a few wide salary bands

Recruitment Cost Ratio

external costs + internal costs/first year compensation of hires in a time period x 100