the business practice of sending jobs to other cou
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Test bank For HRM1200 - Human
Resources I Final Review (Chapter 1, 12,
13, 2, 4 and 6 (13th Edition by Hermann
Schwind)
The process of managing human talent to achieve an organization's objectives - ANSHuman
Resource Management (HRM)
The knowledge, skills, and capabilities of individuals that have economic value to an
organization - ANSHuman Capital
... - ANSThe Six Issues
Responding strategically to Changes in the Local and Global Marketplace - ANSIssue 1
total quality management
reengineering
six sigma a
reactive and proactive change - ANSHR managers need to understand
a set of principles and practice whose core ideas include understanding customer needs, doing
things right the first time and striving for continuous improvement. - ANSSix Sigma
a process used to translate customer needs into a set of optimal tasks that are performed in
concert with one another - ANSTotal Quality Management (TQM)
the planned elimination of jobs in an organization
(Layoffs) - ANSDownsizing
Contracting outside the organization to have work done that formerly was done by internal
employees. - ANSOutsourcing
The business practice of sending jobs to other countries - ANSOffshoring (Global Sourcing)
approx 70-85 percent of the Canadian economy is affected by international competition -
ANSGlobalization
- partnerships with foreign firms
, - lower trade and tariff barriers - ANSImpact of Globalization
Setting and Achieving Corporate Social Responsibility and Sustainability Goals - ANSIssue 2
the responsibility to act in the best interests of the people and communities affected by its
activities
- sustainability is closely related to CSR
- refers to a company's ability to produce a good or service without damaging the environment -
ANSCorporate Social Responsibility (CSR)
Advancing HRM with Technology - ANSIssue 3
A computerized system that provides current and accurate data for purposes of control and
decision-making - ANSHuman Resources Information System (HRIS)
... - ANS3 Impacts of Technology on HRM
automation of routine tasks, lower administrative costs, increased productivity and faster
response times - ANS1. Operational
online recruiting, screening and pretesting of applicants - ANS2. Relational
training, tracking, and selecting employees based on their record of skills and abilities;
organization wide alignment of "cascading" goals - ANS3. Transformational
Containing costs while retaining top talent and maximizing productivity - ANSIssue 4
downsizing
offshoring, nearshoring and homeshoring
outsourcing - ANSLowering Labour related costs include:
Severance and rehiring costs
Accrued vacation and sick day payouts
Pension and benefit payoffs
Potential lawsuits from aggrieved workers - ANSHidden Costs of a Layoff
A fiercely loyal, more productive workforce
Higher customer satisfaction
Readiness to snap back with the economy
A recruiting edge - ANSBenefits of a No-Layoff Policy
The process of dismissing employees who are then hired by a leasing company and contracting
with that company to lease back the employees - ANSemployee leasing
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