Intro to Human Resources

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Some information about the exam:
* 40 questions
* All multiple choice
* 5% of questions originate from videos, 10% from assigned articles, 90% from lecture slides and book

Example questions:
1. This job analysis tool uses the following scales to rate the importance of tasks: extent of use, amount of time, importance to the job, and possibility of occurrence.

A. Fleishman
B. Position Analysis Questionnaire
C. O*Net
D. Job Element Inventory

2. Your company is currently faced with a labor shortage. You need to correct the situation, but want to choose an option that is fast, yet can be “undone” when the shortage goes away (revocability). Of the following options, which one does NOT meet both of these conditions?

A. Overtime
B. New external hires
C. Temporary workers
D. Outsourcing

HRM Overview

* Three methods to assess whether HRM matters
-Conceptual Arguments
- resource based view
- the value of resources depends on several factors
- are good people rare? Yes depending on the economy
- are good people inimitable? Yes because they create history, they create culture, they make numerous small decisions-> none of these can be copied -Case Studies
- examine companies that do well/struggle financially to see if they do good/poor job managing HRM
- Container Store
-Quantitative Studies
- look at companies who have been recognized for their HRM quality to see if their practices have seemed to create sustainable competitive advantage

* The “resource-based view” of the firm
* What are some kinds of “resources”?
-financial, physical, interpersonal
* What is a competitive advantage?
* What factors contribute to making resources valuable and that, in turn, give companies a competitive advantage?

* From the lecture slides and the article “Putting people first” by Pfeffer and Veiga: In a study of 968 firms regarding their HRM practices conducted by Huselid (1995), a one-standard deviation improvement in HR practices resulted in what outcomes with regard to turnover, sales, and stock price? Know specific amounts/percentages. * 7.05% decrease in turnover, $27,044 more in sales, $18000 increase in stock price

HR Challenges

* The two (out of three) general HR challenges that we discussed (from Chapter 1 of the Lepak and Gowan text) * Organizational demands
-strategy, company characteristics, organizational culture, employee concerns * Environmental Influences
-labor force, technology, globalization, ethics and social responsibility

* Strategy as an organizational demand
* The two types of strategies
* Their implications for managing employees

* Company characteristics as an organizational demand: Compare concerns between companies in different stages of development (young versus old companies) * Young: focus on growth and survival; face pressure to hire people to help the company grow * Old: focus on customer retention and future opportunities; have more resources and established policies and procedures; are more bureaucratic

* Organizational culture as an organizational demand:
* Definition of Organizational Culture
* Assumptions, values and beliefs of a company that affect how employees behave * Factors that shape culture
* Values and beliefs of a company’s founders
* Important decisions made in company’s history
* HR practices that signal values and behavior
* Management practices and actions
* Mergers and acquisitions
* Strong cultures provide clear, consistent signals
* Weak cultures are ambiguous and lack a clear message

* Possible responses to injustice
* Speak up, silence, neglect, leaving, destructive behaviors

* The definition of psychological contracts
* Expectations of employee and what the company will provide in return...
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