MGMT 371 1nd Edition Lecture 12 Outline of Last Lecture I. CreativityII. InnovationIII. Organizational ChangeIV. Product and Technological Changea. Innovation Strategiesi. Entrepreneurship1. Idea Champions2. New Venture Teams3. Skunkworks4. New Venture Fundii. Cooperation1. Internal Coordination2. External Coordinationiii. Exploration1. Creativity2. Idea IncubatorV. Changing People and Culturea. Training and Developmentb. Organizational DevelopmentOutline of Current Lecture I. Human Resources ManagementII. Strategic Human Resources ManagementIII. Federal Legislation and Human Resources Management a. Equal Opportunity and Discrimination Lawsb. Compensation and Benefit Lawsc. Health and Safety LawIV. Nature of CareersV. Finding the Right PeopleVI. Managing TalentVII. 360 FeedbackVIII. Maintaining an Effective WorkforceThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Current LectureChapter 11 – Human Resources- Human Resources Management: activities to attract, develop, and maintain an effective workforceo  How an organization manages talent may be the single most important factor in sustained competitive success- Strategic Human Resources Managemento Look at the company’s strategic plan  where the CEO wants the company to goo Find the right people HRM planning Job analysis: what skills do you need to fill Forecasting: where do you want to be in the future Recruitment: get who or what you need  Selectingo Manage Talent Training, development, and appraisalo Maintain effective work force Wages, salaries, benefits Labor relations Terminations- Federal Legislation and Human Resources Management  all enacted in the last 50 years as TV brought problems to people’s mindso Equal Opportunity and Discrimination Laws Civil Rights Act  for minorities Americans with Disabilities Act Vocational Rehab Act  when someone gets hurt on the job Age Discrimination in Employment Act  don’t fire the old peopleo Compensation and Benefit Laws Health Insurance Portability Accountability Act (HIPPA) Family and Medical Leave Act Equal Pay Acto Health and Safety Consolidated Omnibus Budget Reconciliation Act (COBRA) Occupational Safety and Health Act (OSHA)- Nature of Careerso Changing Social Contract  people used to keep a job for life, but now they may only stay at a job for 2 – 3 years  Because there are more opportunitieso Human Resources Management Innovations- Finding the right peopleo Human Resources Planning: figure out where the company is going and what youneedo Recruiting  bring an HR person and someone who graduated from the university to university recruiting to draw in recruitso Selectingo Welcome the new employee  to make the employee want to stay- Managing Talento Training and Development On the Job Training: learning operating systems and enhancing knowledge  Corporate University: to further education inside the company instead of leaving to attend a university; allows the company to promote from within and retain employees Promote from within Mentoring and Coachingo Performance Appraisal Assesses performance accurately Performance evaluation errors- 360 feedback o Perform a performance evaluationo Speak with the employee privately in HR office so HR is in the power positiono Then talk to the employees who rated him/her to get specifics on how he/she can improve- Maintaining and effective workforceo Compensation  wages, salaries, benefitso Benefits Now account for > 40% of labor cost in the USo Termination Out with poor performers  Exit Interviews  you might learn about HR and management and you will hear the honest truth because the employee is already