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Class notes HRM
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HRMHuman resources are people, and human
resource management (HRM) is the process an
organization undergoes to manage people in
order to achieve its goals.
Functional areas of HR:
Compensation & Benefits
o Salary etc… What employees gets
– Benchmark salaries…
Employee Relations
o Employee onboarding, conflicts,
communication, exit-interviews
HR Compliance
o Company’s policies /procedures
are compliant to local/regional
laws (labour laws)
Organizational Design
o Makes sure the positions are well
organized, makes sure the operations/floorwork is always competitive
Training & Development
o Not delivered by HR, but they set general guidelines etc… and make sure employees
receive the training and files it
HRIS (Human Resources Information System)
o Cloud-based. Manages all information of employees. Makes sure it is up to date
etc…
Staffing & Recruiting
o All vacancies are identified. Recruitment process is launched.
The Recruitment Cycle Strategic Workforce Planning
Workforce planning is a process of analyzing
- The current workforce
- Determining future workforce needs
- Identifying the gap between the present and the future
With the goal to implement solutions that can accomplish a company’s mission, goals, and strategic
plan
, Understanding Your Workforce:
What is the current employee demand?
What are the current demographics of your existing workforce?
What is the turnover rate within the organization?
What is your vacancy rate?
Understanding Your Industry:
What are the workforce trends and challenges specific to your industry?
What are the general labor force trends and challenges?
What is the organization’s current vision, mission, business goals and objectives?
Are there any planned technology changes that will impact the workforce?
Understanding Gap Analysis:
Are shortages or surpluses forecast for your occupational groups?
Will your organization require new occupations or skills sets?
Will a significant part of the workforce be leaving through retirement?
Internal Sources of Workforce:
1) Current Employees
2) Employee Referrals
3) Former Employees
4) Previous Applicants
Advantages:
You know the employees – how they are and if they are capable
Reduce time to hire
Shorten onboarding time
Cost less
Strengthen employee engagement
Disadvantages:
Run out of new energy etc… - limited pool of applicants
If current employee goes for the position, then another vacancy comes
Creates resentment among employees and managers
Result in inflexible culture
External Sources of Workforce:
1) Staff Exchange
2) Adverts
3) Recruitment Agencies
4) Professional Associations
5) Campus Recruitment
6) Word of Mouth
7) Raiding/Poaching
Advantages:
Open to indefinite number of skills, knowledge etc... that might not exist in your company
Better quality candidates. New skills and new business insights
Increased conversion rate
Disadvantages:
Very expensive and long process
Higher risk
Possibility of maladjustment
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