"Human Resource Management (HRM)

Sample Solution

1. Human Resource Management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.

2. A code of ethics is a set of principles and standards that guide the behavior of a company or organization and its employees. It is important for an organization to have a code of ethics because it helps to promote ethical conduct, build trust with employees and customers, and reduce the risk of legal and regulatory problems.

Full Answer Section

1. The four main steps within the staffing function are:

• Job analysis: This involves identifying the tasks, responsibilities, and qualifications required for a particular job.
• Recruitment: This involves identifying and attracting potential candidates for a job opening.
• Selection: This involves evaluating the candidates and selecting the best person for the job.
• Onboarding: This involves introducing the new employee to the company and its culture, and providing them with the training and support they need to be successful.

4. Eight types of employee compensation are:

• Base salary: This is the fixed amount of money that an employee receives for their work.
• Bonuses: These are variable payments that are awarded to employees based on their performance or the company's financial performance.
• Commissions: These are payments that are based on the employee's sales performance.
• Profit sharing: This is a plan that allows employees to share in the company's profits.
• Stock options: This is a plan that gives employees the right to purchase company stock at a discounted price.
• Benefits: These are non-cash payments that provide employees with financial security and other benefits, such as health insurance, retirement savings plans, and paid time off.
• Perquisites: These are special benefits that are typically awarded to high-level executives, such as company cars and country club memberships.

5. The four reasons why ninety percent (i.e., 90%) of employees leave a company are:

• No opportunities for growth and development: Employees want to learn and grow in their careers. If they don't see opportunities to do that at their current company, they're more likely to leave.
• Poor management: Employees want to be managed by competent and fair managers. If they don't feel like they're being managed well, they're more likely to leave.
• Low compensation: Employees want to be compensated fairly for their work. If they feel like they're being underpaid, they're more likely to leave.
• Toxic work culture: Employees want to work in a positive and supportive environment. If they feel like the work culture at their current company is toxic, they're more likely to leave.

6. Two ethical perils (liabilities) of job announcements are:

• Discrimination: Job announcements should be written in a way that does not discriminate against any protected class of people.
• Misrepresentation: Job announcements should be accurate and not misrepresent the job or the company.

7. The two factors that usually weigh heavily in deciding which questions should and should not be asked during an applicant’s interview are:

• Legality: Interview questions must be legal and cannot discriminate against any protected class of people.
• Relevance: Interview questions should be relevant to the job and help the interviewer to assess the candidate's qualifications.

8. The three considerations a Human Resource Management (HRM) professional should address during an employee’s review for promotion within an organization are:

• Performance: The employee's past performance is a key indicator of their potential for success in a more senior role.
• Qualifications: The employee should have the necessary skills, experience, and knowledge to be successful in the new role.
• Potential: The HRM professional should assess the employee's potential for growth and development.

The most important consideration an HRM professional should contemplate during the employment promotion process is the employee's performance. Performance is the best indicator of an employee's potential for success in a more senior role.

In addition to the above, here are some additional thoughts on the four main steps within the staffing function:

• Job analysis: It is important to conduct a thorough job analysis to ensure that the recruitment and selection process is focused on finding the best person for the job. The job analysis should identify the essential and non-essential duties, responsibilities, and qualifications for the job.
• Recruitment: The recruitment process should be designed to attract a diverse pool of qualified candidates. The HRM professional should use a variety of recruitment methods, such as online job postings, employee referrals, and