HR Fundamentals
The 5000-year challenge.
What is "how to manage people"?
Baby boomers, X'ers, Millennials, Gen Z, and iGen
What are the generations currently represented in the workforce?
A manager who assists and advises line managers
What is a Staff Manager?
Formulating and executing policies and practices that produce competencies and behaviors the company needs to achieve its goals
What is strategic Human Resource Management?
A long-term plan of action designed to achieve business goals and objectives
What is a strategy?
These HR Models use technology and centralized HR units whose employees work across the entire organization in a particular specialty or domain expertise
What is a "shared services" model?
The growing workforce comprised of contract, temp, freelance, and "on-demand" workers
What are gig workers?
Credibility
What is a primary concern and challenge for HR professionals?
The process of identifying an organization's potential strengths, weaknesses, opportunities, and threats.
What is a SWOT Analysis
A plan implemented to generate revenue and profit(service) from their operations including functions of the business, the types of revenue it generates, and the expenses it incurs
What is a Business Model?
The extent to which an organization's employees are psychologically involved in, connected to and committed to getting their jobs done.
What is employee engagement?
What is outsourcing?
The growing trend of using artificial intelligence, apps, bots, and mobile service delivery.
What are Technology trends affecting HR?
So that...
What is the question an HR professionals need to ask to connect their activity to the strategy and broader business context?
The amount of benefit you experience from an investment given the amount of resources you have dedicated to it
What is Return-on-Investment (ROI)?
Helping the organization improve its employees' performance and ability to "win" in the marketplace.
What is "Value-added HR"
The workforce management strategy associated with moving work to be performed to locations outside of its primary country of origin.
What is "Offshoring"?
What is a core need and priority for HR professionals?
Building plans to align the organizational "levers" to support the strategy
What is a primary way HR can drive strategy?
A business tool that represents revenue, cost of goods sold, gross profit, operating expenses, operating profit, and net income.
What is an Profit and Loss statement OR Income Statement?
The use of data, facts, analytics, scientific rigor, and critically evaluated research to support HR practices and decisions
What is Evidence-based HR Practices?
Exponential pattern of technology change, social and organizational reconfiguration, a truly connected world, an inclusive global talent pool, and human/machine collaboration
What are the five forces sharing strategy, organizations, and work?
The principles of conduct governing an individual or group; specifically, the standards you use to decide what your conduct should be.
What is ethics?
Competitive rivalry, buying power, supplier power, the threat of new entrants, and the threat of substitution.
What are Porter's 5 Forces of Competition
The various aspects of an organization such as labor/product costs, pricing strategies, investments, facilities that can be manipulated to impact performance.
What are performance levers?