Human Resource Management Exam Need to
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Trends influencing HRM - ✔✔Service jobs
Over 2/3 of U.S. workforce produce/deliver services
Human capital
"Knowledge workers" (knowledge, education, training, skills, etc.)
Places premium on selection, training, and compensation practices
Offshoring
Exporting jobs abroad in search of greater efficiency
Trends influencing HRM - ✔✔Demographic Trends
"Generation Y" (born 1977 - 2002)
e.g., believed to be more family-centric or dual-centric, high-performance and high-
maintenance
Retirees
"Aging workforce" - not enough younger workers to replace those retiring
Nontraditional Workers
Hold multiple jobs or have alternative work arrangements (e.g., job sharing)
Almost 10% of American workers (13 million)
,Workers from Abroad
U.S. employers bring about 181,000 foreign workers
Managers: Employee Enagagement - ✔✔Employee engagement
-Those who are mentally and emotionally invested in their work and contributing to an
employer's success
-Many employees are not (some say less than 1/3 of U.S. workforce)
-HR managers must foster engagement
New HR Managers - ✔✔Measure HR performance and results
Add value
-Boost profitability and performance in measurable ways
High Performance Work Practices (HPWP) - ✔✔Incentive Pay
Training
Compensation Level
Employee Participation
Systematic Selection
Internal Promotion
HR Planning
Flexible Work
Performance Mgt.
Grievance procedures
Use of Teams
, Information Sharing
Employment Security
HPWP Impact on $: - ✔✔Hueslid et al. (1997) 293 publicly held firms
-Evidence of a connection between HRM practices & firm performance
--1+ standard deviation increase above the mean in HPWP:
---increases cash flow by 16.3%
---increases sales per employee by 5.2% or $44,380
HPWP Impact on $: - ✔✔Huselid et al. (1998) Meta-analysis of...
-HPWP across 968 organizations across many industries
-1+ standard deviation above mean yields:
--7% decrease in employee turnover
--$27,044 increase in sales/employee
--$3,814 profits/employee
--$18,000 increase in stock market value/employee
Evidence Based Management (EBM)- - ✔✔
Critically examine the quality of data & methods: - ✔✔Good data are: reliable, valid,
& standardized
Statistical significance does not necessarily = managerially useful
Data are both quantitative & qualitative
Seek collective wisdom: - ✔✔Meta-analyses vs. single studies or case studies
Use success/failure stories as illustration (vs. evidence)
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