HR Management CH 5

Lead-the-market

A company pays higher wages then their competitors have a recruiting edge over their competitors

Downsizing

The planned elimination of large numbers of personnel to enhance organizational effectiveness refrain from universal cuts

Furlough

A short-term elimination of paid workdays for salaried workers

Leading Indicator

Accurately predicts future labor demand

Temporary Workers

Advantages- May help save on costs by not being permanent, may already be trained by temporary agency, and offer a new viewpoint

H2-A visa

Agriculture

Outsourcing

An organization's use of an outside company for a broad set of services

Goal Setting and Strategic Planning

Analyze labor supply and demand data Identify a deadline for ultimate outcome Determine a specific amount of jobs

Liftout

Attempting to employ team of workers from a competing organization

Workforce Utilization Review

Comparison of the proportion of workers in protected subgroups with the proportion that each subgroup represents in the relevant labor market

Aging Workforce

Cost the company more money than younger workers Tend to block the advancement of younger employees

Forecasting

Done through statistics and judgmental approaches Attempts to determine the supply and demand for various types of human resources HR planners consider job types and skills needed to support company objectives

Headhunter

Executive search firm

HR Planning Process

Forecasting Goal Setting & Strategic Planning Program Implementation and evaluation

At-will-employment

HR policy states that either party in an employment relationship can terminate the relationship at any time, regardless of cause

Extrinsic Rewards

High rewards and generous benefits

Image Advertising

Needs to reflect diverse group attempting to attract

Independent Contracting

No benefits period no security in job

Direct Applicants

People that apply for a job without being referred

Referrals

People who are prompted to apply to a job by someone from the organization

Offshoring

Reduces costs Happens when a company lacks expertise in a certain area jobs move from one country to another disadvantages include lackluster service, security violations, and bad quality products

Due process policies

Show that job security is high

H2-B Visa

Technology

Labor shortages

avoided by hiring temporary employees and outsourcing tasks to outside companies overtime becomes mandatory

Labor Surplus causes

downsizing If predicted hiring needs to be frozen avoid layoffs by reduction of hours and pay

The Social Security Act

federal law requires all people who are on unemployment to be registered with a local state employment office

Affirmative Action

monitors the proportion of specific minorities in a job category in relation to the proportion of workers in those subgroups

Transitional Matrix

statistical method that shows the proportion (or number) of employees in different job categories at different times Track trends in company's labor supply

Human Resource Recruitment

the practice or activity carried on by an organization with the primary purpose of identifying and attracting potential employees Purpose is to build a potential of new hires