Human Resource Management Concepts

What are the two main products of Job Analysis?

• Job Descriptions and Job Specifications

• Employee Evaluations and Performance Reviews

• Training Manuals and Orientation Guides

• Work Schedules and Payroll Records

What are the key steps in the Performance Appraisal Process?

• 1. Setting work standards, Assessing actual performance, Providing feedback to motivate improvement.

• 2. Conducting employee surveys, Setting work standards, Providing financial incentives.

• 3. Hiring new employees, Setting work standards, Conducting exit interviews.

• 4. Setting work standards, Providing training programs, Assessing employee satisfaction.

What is the MBO method in performance appraisal?

• A goal-setting and appraisal program where managers set specific, measurable goals with employees.

• A method of evaluating employee performance based solely on subjective opinions.

• A technique that focuses on employee satisfaction rather than performance metrics.

• A system that eliminates the need for performance reviews altogether.

What are the basic factors in determining pay rates?

• Salary: Annual compensation.

• Wages: Hourly compensation based on hours worked.

• Bonuses: Additional compensation based on performance.

• Benefits: Non-wage compensation such as health insurance.

What is the purpose of Employee Orientation (Onboarding)?

• To provide new employees with essential background information to perform their jobs effectively.

• To conduct performance reviews of existing employees.

• To introduce employees to the company's social media policies.

• To assign new employees to their workstations.

What are the 5 functions of Human Resource Management (HRM)?

• 1. Plan, Organize, Staff, Lead, Control

• 2. Plan, Execute, Monitor, Review, Control

• 3. Recruit, Train, Develop, Retain, Evaluate

• 4. Plan, Organize, Direct, Control, Evaluate

What are some training methods?

• On-the-Job Training (OJT)

• Classroom Training

• Online Courses

• Behavior Modeling

Why is effective recruiting important?

• It helps organizations save money on hiring costs.

• It allows organizations to select the best candidates from a larger pool of applicants, improving the quality of hires.

• It reduces the time taken to fill job vacancies.

• It ensures that all applicants are hired regardless of qualifications.

Who can conduct performance appraisals?

• Peers

• Rating committees

• Self-ratings

• Subordinates

What are Individual Incentive Plans?

• Compensation strategies that reward employees based on their individual performance.

• Plans that provide equal pay for all employees regardless of performance.

• Strategies to reduce employee turnover by offering job security.

• Programs that focus solely on team performance rather than individual contributions.