The process of analyzing and identifying the need for and availability of human resources so that the organization can meet its objectives
What is the purpose of HR planning?
Using information from the past and the present to predict what will happen in the future
What is the HR Planing Process
1. review organizational HR strategic plan
2. assess external and internal workforce
3. compile HR planning forecasts
4. develop HR staffing plans and actions
External means for assessing workforce in HR planning
economic and governmental factors
changing workforce considerations
checking the news
change in SSI
change in workforce
Internal means for assessing workforce in HR planning
Job and Skill Audit
Organizational capabilities inventory
Types of forecasting:
1. HR Demand
2. Internal Supply
3. External Supply
Methods for forecasting
-rule of thumb
performance=ability x motivation + task + organizational considerations
What are individual performance factors?
1. effort expended
2. individual ability
3. organizational support
What is turnover?
the processes in which employees leave an organization and have to be replaced
What is the impact of turnover?
-inability to achieve business goals
-loss of "image" to attract other individuals
-high costs of turnover and replacement
What is churn?
hiring new workers while laying off others
What are the types of turnover?
What is turnover rate?
number of employee separation during month/total number of employees at mid month x100
Cost of turnover
Why do people leave?
employing organization factors
perceived job support
What are the 3 dimensions of embeddedness?
What are the five myths to retention?
1. money is the main reason people leave
2. hiring has little to do with retention
3. if you train people, you are only training them for another
4. do no be concerned about retention during change
5. if solid performers want to leave, the company cannot
What are the six drivers to retention?
1. organization and management factors
2. employee and supervisor relationships
3. job and work-life
5. career training and development
6. employer practices and policies
What is total rewards?
Monetary and non-monetary rewards provided to employees in order to attract, motivate, and retain them
What are the five strategic objectives?
1.Legal compliance with all laws2.Cost of effectiveness for the org bottom-line3.Internal, external, and individual equity for employees4.Perf enhancement for the org5. Perf recognition and talent management for emp.6. Enhanced recruitment, involvement and retention
What is the traditional approach to rewards?
Compensation is primarily base pay Bonuses for executives only
Fixed benefits tied to long tenures Pay grade progression is based on organizational promotion One organization-wide pay plan for all employees
What is the total rewards approach to rewards?
variable pay used with base pay
annual/long-term incentives provided to all employees
flexible and portable benefits offered determine pay grades
multiple pay plans consider job family, location, and business units
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