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Human Resource Management Maximizing the effectiveness of the workforce -Recruiting world class talent -promoting career development -boosting organizational effectiveness Internal Recruiting Transferring or promoting employees within the company -boosts morale -proven track record -lower recruiting costs External Recruiting Looking for employees outside the firm Resources -Websites -Newspaper Ads -Trade associations -Employment careers -College/Universities Selection Application Interviewing Testing References and Background Strategic Planning Recruitment Selection Training Evaluation Compensation/Benefits Seperation Structured Interview Behavioral based questions Probationary period typically 3-6 months Training and Development Increase Innovation Increase technology adoption Increase productivity increase motivation decrease liability Orientation Effective orientation are the first steps in the developmental process Introduced to company culture Strong orientation programs reduce employee turnover Off-the-job training away from job setting -vestibule training -classroom -job simulations Computer based training standardized presentations using video,audio and broadband technology Management development Programs that assist current and potential executives develop leadership skills Evaluation should be a feedback process Performance Appraisals -formal feedback -compare actual to expected results -may impact compensations, incentives,promotions Wages pay in exchange for number of hours or days worked Salary pay the employees receive over a fixed period Benefits noncash compensation like healthcare and vacation Performance Pay options Commission, Bonuses, Profit sharing, stock options, pay for knowledge Legally Mandated benefits social security medicare contributions unemployment payments workers compensation federal family and medical leave Optional Benefits Paid vacation and holidays paid sick days health insurance retirement program product discounts tuition reimbursement Civil Rights act of 1964 prohibits discrimination in hiring, firing, compensation, or privileges of employment based on race, color, religion, sex, or national origin -with other legislation: age, disability, pregnancy