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HR Ch 2
| Term | Definition |
|---|---|
| Internal Labor Force | An organization's workers includes its employees and people who have contracts to work at the organization |
| External Labor Market | Individuals who are actively seeking employment |
| HRM considerations | - Planning retirement - Retraining older workers - Motivating workers whose careers have plateaued - Controlling the rising cost of health care and other benefites |
| HRM considerations regarding diversity | - use talents, skills, and values of all employees - staffing selection should not use biased tests - employees' nonword needs should be met with flexible schedules - educate employees on cultural differences and stereotypes |
| Employees whose contribution to the organization is specialized knowledge of | - customers - processes - profession |
| HRM must support a company's strategy by: | - Aligning policies and practices with company goals - supporting. company decisions through quality improvement programs, mergers and acquisitions, restructuring, reengineering, outsourcing, and international expansion |
| Mergers | two companies become one |
| Acquisitions | one company buys another |
| Total quality management (TQM) | - Provides guidelines for all the organization's activities - Quality improvement can focus HRM functions |
| Low-cost, low-price strategy | These organizations rely on HR to identify ways to limit costs of maintaining a qualified, motivated workforce |
| Downsizing | - most valuable employees should be kept, but they are often willing and able to find ther employment before layoffs - Early- retirement programs are humane, but they essentially reduce the workforce with a "grenade" approach |
| HRM must boost morale of remaining workers | open communication necessary to build trust: notify employees of reason for downsizing and provide downsized employees with outplacement services |
| offshoring | transferring ownership or business processes to a different country |
| Reshoring | the returning of production and manufacturing of goods to the company's orginal country |
| A psychological contract | unspoken expectations between both employee and employees |
Created by:
Kshimm
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