BUSI 342 Chapter 1 Notes
BUSI 342 Chapter 1 Notes BUSI 342
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This 2 page Class Notes was uploaded by Emily Notetaker on Thursday October 6, 2016. The Class Notes belongs to BUSI 342 at Liberty University taught by McLaughlin in Fall 2016. Since its upload, it has received 3 views. For similar materials see Human Resource Management in Business at Liberty University.
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Date Created: 10/06/16
9/1/2016 BUSI 342 Human Resource Management Chapter 1 Notes Human Resource (HR) Management Design of formal systems in an organization HR Department o Develops legal, effective interviewing techniques o Trains managers in conducting selection interview o Conducts interviews and tests o Sends top applicants to managers for financial interview o Checks references o Does final interviewing and hiring for certain job classifications Managers o Advise HR of job openings o Decide whether to do own final interviewing o Receive interview training from HR unit o Do final interviewing and hiring where appropriate o Review reference information o Provide feedback to HR department on hiring/rejection decisions Types of Organizational Assets o Physical- Buildings, computers, machinery, equipment, etc. o Financial- Cash and cash equivalents o Intellectual Property- Ideas, patents, copy rights, trademarks, etc. o Human- Employees Human Capital o Collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce o Called intellectual capital to reflect following contributions of employees Thinking Knowledge Creativity Decision making Smaller Organizations and HR Management o HR Issues Shortage of qualified workers Increasing costs of employee benefits Rising payroll taxes Government regulation compliance Views of HR Department o Positive Deal with the huge number of government regulations Protects corporate assets against the many legal issues o Negative Too bureaucratic, detail-oriented, and costly and are comprised of naysayers More concerned about o What is a “Core Competency”? o Where Employees can be a Core Competency Productivity Customer service/quality Organizational culture Organizational Productivity o Productivity- A measure of the quantity and quality of work done, considering the cost of the resources used o Unit labor cost- A measure of HR productivity computed by dividing the average cost of workers by their average level of output
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