Summary: Bm 3100 Mt3

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• 1 BM 3100 MT3

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• HR Planning Process

  Clear goal of where they see the company going and using the stage of HR to do so

• Forecasting labor demand

  use planner to determine what relevant jobs are needed whether to train hire or fire, statistical models are helpful if the economy has been relatively stable

• Second Step in HR planning

  Goal setting and strategic planning

• External Recruiting Sources

  for entry level positions and specific upper level positions this is the only option 
  may bring in new ideas

• Learning Management System (LMS)

  Computer application that automates administration, development, and delivery of a company's training program. 
  reduces cost for travel etc. management can track course enrollment

• performance appraisals (employee assessment)

  tells employee performance problem and how to fix
  understand difference bt current and expected performance

• transfers promotions and downward moves

  upward/downward/lateral moves
  transfers to different part of company of company w similar responsibilities but can cause stress from having to move etc.
  downward can still be a development move, engineer movingto shift supervison to get managerial skills
  promotions

• career management system

  data gathering - use of assessment tools; self assessment; career interests, values...
  feedback - employers give employees about their skills and knowledge and where these assets fit into orgs plans
  goal setting - short and long term career objectives set
  action planning and follow up - plan to how they will achieve set goals.

• piecework rate vs standard hour pay

  pay workers based on how much they produce rather than time spent working
  or pays them dif rate depending if theyre over avg or under avg
  vs
  pays extra for work done in less than a preset "standard time"

• merit pay vs commissions

  a system of linking pay increase to ratings on performance appraisals (internal)
  vs
  percentage of sale incentive