Managing Human Capital
Reduction
Mitigate or reduce the risk
Virtue standard
The ethical action is consistent with certain ideal virtues, including civil, reality, compassion, and Benevolence
Right standards
The ethical action is the one that best respects and protects them. All rights of everyone affected by the action, including the right to privacy to be told the truth, or to be safe.
Fairness standards
The ethical action treats, all employees equally or at least fairly based on some defensible standard
Unitarian standard
The ethical action, best balance is good over harm by doing the most good or doing the lease harm
Sharing
Transfer the risk by outsourcing or ensuring against it
Five types of ethical standards
Utilitarian, Rights, Fairness, Common Good, Virtue
Culture and HRM
Work together to influence employees, performance, and behaviors
Direct financial compensation
compensation received in the form of salary, wages, commissions, stock options, or bonuses
Stakeholder Perspective
considering the interests and opinions of all people, groups, organizations, or systems that affect or could be affected by the organizations actions
nonfinancial compensation
rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment
HRM functions
staffing, training and development, health and safety, rewards and benefits, performance management, employee management,
Human Resource Management (HRM)
the organizational function responsible for attracting, hiring, developing, rewarding, and retaining talent
Total Rewards
the sum of all of the rewards employees receive in exchange for their time, efforts and performance
unlawful employment practices
violations of federal, state or local employment laws
Unfair Discrimination
when employment decisions and actions are not job related, objective or merit-based
fair discrimination
when only objective, merit based and job related characteristics are used to determine employment related decisions
HRM systems
Technology based forms that help HRM keep sensitive information
Common Law
The body of a case, by case court decision that determines what is legal, and what remedies are appropriate
uncertainty avoidance
The degree of anxiety felt in uncertain or unfamiliar situation
Masculinity
The degree to which society values and exhibits traditional male and females roles in a high, masculine cultures. Men are expected to be more assertive, and be the sole provider for the family.
Types of Culture
1. Entrepreneurial. 2.Consenual 3. Competitive 4. Bureaucratic
Bona Fide Occupational Qualification (BFOQ)
A characteristic that is essential to the successful performance of a relevant job function
Reasonable Accommodation
An employer is required to take reasonable steps to accommodate a disability, unless it would cause the employer undue hardship
For categories of managing risk
Avoidance reduction, sharing, and retention
Business Strategy
Defines how I thermal compete in its marketplace
Avoidance
Eliminate withdrawal, or do not become involved in the situation, lead to risk
competitive
Emphasizes competitive advantage and market Superiority
entrepreneurial
Emphasizes creativity, innovation, and risk taking.
bureaucratic
Emphasizes formal structures and correct implementation, of organizational procedures, norms, and rules
consensual
Emphasizes loyalty and tradition and encourages employees to stay with the organization for a long time
Common good standard
Ethical action shows respect and compassion for everyone especially the most vulnerable
Compliance Risk
Every employment-related decision can have legal ramifications, particularly in the areas of diversity, health and safety, union relations, whistleblowers, and harassment.
Inclusion
Everyone feels respected and listen to, and everyone contributes to their fullest potential
retention
Except and budget for the risk
Immigration Reform and Control Act of 1986
Federal law requiring employers to verify and maintain records on applicants' legal rights to work in the United States
Strategic Risk
HRM initiatives can affect business strategy. These may include the overall talent strategy, company culture, ethics, investments in people, and the implementation of change initiatives.
financial risk
HRM performance affects the organizations workforce cost and productivity directly through compensation benefits, turnover overtime, and time to higher and indirectly through errors, accidents, delays, and loss production
diversity
Having a wide range of people with racial ethical, cultural and socioeconomic backgrounds
HRM role in business
Help support the organization culture
power distance
How much inequality exist, and is accepted among people with and without power
risk assessment
Identifying, analyzing and prioritizing risk
Risk Management
Identifying, assessing and resolving risk before they become serious threats
HRM and organizational performance
Increases the ability to me it's goal ability to change and grow
employee handbook
Print our online materials that document organizations, HRM policies and procedures
Ethical issues in HRM
Privacy issues staffing, layoffs and downsizing, rewards safety performance, appraisal, labor practice
Vietnam Era Veterans Readjustment Assistance Act of 1974 (VEVRAA
Prohibits discrimination against protective veterans,
Age Discrimination in Employment Act of 1967
Prohibits discrimination against workers over the age of 40 and restricts mandatory retirement
Genetic information nondiscrimination act of 2008
Prohibits employers from discriminating against individuals based on the results of genetic testing when making hiring, firing, job placement, or promotion decisions.
long-term orientation
Reflects a focus on long-term planning, delivering on social obligation and avoiding losing face
Rehabilitation Act of 1973
Requires affirmative action in the employment of individuals with disabilities
Equal Pay Act of 1963
Requires that men and women be paid the same amount for doing the same job
organizational culture
The norms values and assumptions of an organizational member, that guides members attitudes and behavior
Ethics
The standards of moral behavior that defines socially accepted behaviors that are right as a opposed to wrong
Individualism
The strength of the ties people have with others in their community high individualism reflects loser ties with others
Operational Risk
These risk can influence an organizations ability to execute the business strategy. HRM affects the speed and the effectiveness of the talent acquisition, as well as development of an employee, skill, and identification and retention of top performers. These and other HMR activities can directly influence the organization, success or failure.
Risk Control
Wrist management planning, and monitoring and resolving risk
workplace tort
a civil wrong in which an employer violates a duty owed to its customers or employees
Equal Employment Opportunity
a firm's employment practices,must be designed and used in a manner that treats employees and applicants consistently regardless of their protected characteristics such as sex and race
Talent philosophy
a system of beliefs about how employees should be treated
Indirect financial compensation
all the tangible and financially valued rewards that are not included in direct compensation, including free meals, vacation time, and health insurance
Fair Labor Standards Act (FLSA) of 1938
establishes both a national minimum wage and overtime rules
performance culture
focuses on hiring, retaining, developing, motivating, and making work assignments based on performance data and results
Effective HRM systems
increase the organization's ability to meet its goals, enhance the organization's ability to grow and manage change, and increase employee engagement, effort, and performance.
Title Seven of the Civil Rights Act of 1964
prohibits employment discrimination based on race, color, religion, sex, or national origin
National labor, relations act of 1935
prohibits retaliation against employees seeking to unionize, created to protect employee and the employees right to encourage collective bargaining between the labor unions and employers
Equal Employment Opportunity Commission (EEOC)
to receive an investigate charges of unlawful employment practices gives power to enforcer in law