MHR Final Class Notes Benefits- Overviewo Add about 40% to payroll costs o Nature of benefits in US have Change SIGNIFICANTLY in past 25 years- Legal Requirementso Social Security, Unemployment compensation, worker’s compensation, FMLA – Family and Medical Leave Act o Voluntary Benefits: health insurance, HMO, PPO, COBRA- Retirement Benefits o Defined Benefits Planso Defined Contribution Plans IRAs, Roth IRAs, 401K- Other Types: Vacation, Military, Travel insurance, Spending accounts- Things to considero The cost to you of a benefit packageo Difference between passive and active enrollment - Trendso Becoming more important because of rising costs and need to keep them competitive o Their approach to benefits reflects the organizational behavior Leadership- Basicso “the process of providing direction and influencing individuals or groups to achieve goals”- Leadership v Managemento Management LeadershipFocus on Current Focus on Future Stability and Efficiency Change and adaptation Planning/Org/Informing Strategy/Conceptual/Innovative and Inspiring“Train on Time” “Where tracks should be” - Behavioral Theorieso Managerial Grido - Situational Theoriesoo Path-Goal Theory Directive Leadership Supportive Leadership Achievement oriented Leadership Participative leadership Upward-Influencing Leadership - Other viewso Laissez-Faire Not assuming responsibilities NOT a way to leado Transactional – set clear roles and give rewards for performance o Transformational – A compliment to transactional – they are strong charismatic leaders to push communication of goals of organization Charismatic leaders: Self-confident, vision, real talk, sensitive to enviroment- Leadership Excellence and Developing Strengthso Kouzes and Posner’s Leadership Practices Challenging the process – Search out challenging opportunities and experiment Inspiring a Shared Vision - Envision uplifting future, enlist others by appealing Enabling Others to Act – Foster collaboration and trust, Strengthen people by development and empowerment Modeling the Way – Model value driven behavior, Achieve small wins Encouraging the Heart – Recognize individual contributions and celebrate team accomplishmentso “Lincoln on Leadership” People – network Character – honesty, take criticism Endeavor – lead by being led, encourage innovation Communication – master the art of public speaking o Why CEO’s Fail Arrogance, Melodrama, Volatility, Excessive Caution, Habitual Distrust, Aloofness, Mischievousness, Eccentricity, Passive Resistance, Perfectionism, Eagerness to Please - A Model of Leadership Excellence o Zenger and Folkman’s Compentency Model (5) Primary Dimensions Character, Personal Capability, Focus on Results, Interpersonal Skills, Ability to Lead Organizational Changeo 3 P’s of Effective business Leaders Passion Performance Principle o Leadership Excellence starts with the DECISION to be a great leader; with an EXPLICITCOMMITMENT to greatness Commitment = Introspection, Self-candor, willingness to improve, time, dissatisfaction with “good” Great leaders have 3+ strengths, not categorized by absence of weakness butthe presence of recognized strengths - Passion v Competencieso Competencies PassionYour skills or expertise Reflect your values and personalityCan be developed Stable over Time “things you’re good at” “Things You Love to do” o Find sweet spot of Passion, Competencies, and Organizational needsHuman Resource Planning- Job Analysis –o a technical procedure that defines duties and accountabilities as well as KSA – knowledge, skills and abilities needed to perform the job successfullyo Done with observation, interview, questionnaire etc. - Forecasting and Labor Issueso Determining Labor Demand Derived Externallyo Determining Labor Supply Internal Movementso Determine Labor Surplus or Shortage and the appropriate actions to take (proactively) Ways to reduce and Expected Labor Surplus- Option Speed Negative Impact Downsizing Fast High Pay reductions Fast HighDemotions Fast HighTransfers Fast ModerateWork Sharing Fast ModerateHiring Freeze Slow Low Natural Attrition Slow LowEarly Retirement Slow LowRetraining Slow Low Ways to Reduce Expected Labor SHORTAGE- Option Speed Ability to Change Later Overtime Fast HighTemps Fast HighOutsourcing Fast HighRetrained Slow HighReduce TO Slow ModerateNew Hire Slow LowTech Inn Slow Low- HRP – Human Resource Planning – a strategic process to address their ability to meet their strategic goals and objectives o Systematic assessment o Links current human resource capabilities with business strategies and plans o Provides ongoing discussion and tracking of development for growth o (3) Elements 1. Individual Development Planning (IDP) –between manager and employee 2. Talent Review – manager review his talent with 2nd level supervisor 3. HRP presentations – info used for action planning, forecasting etc. o (3) Ground Rules Confidentiality Candid and Open Discussion Differing Views Encouraged o (3) Rating Categories Competencies – role model, proficient, needs improvement Performance- exceptional, meets expectations, significantly below expectations Potential – immediately promotable, well placed, manage outEmployee Training and Development - Developmento Helps company and individuals growo 1. Evaluate current effectiveness and contribution o 2. Identify areas of strength and weaknesso 3. Determine best mix of development actions o 4. Execute development plans and actions o Approaches (3) – need to invert the typical pyramid Formal Programs (70% needs to be 10%), working with others (20%- 20%), on the job/experimental (from 10% to 70%)- Training Basics - Training Development Focus— Current FutureT/S --- Tactical Strategic Use Work Exp—Low HighGoal --- Success Now Success now and futurePerception Required Voluntary o Important terms P = A x M x O- Issues, concepts, “vehicles”- Coaching and Mentoring - Experimental Development Performance ManagementSeparating and Retaining EmployeesOrganization Structure, Development and
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