How much of a company’s annual profits could employee turnover cost?
Up to 40%
How much money does the average company lose with the loss of ten managerial employees
$1 million
How much of an employee’s salary does turnover cost?
50-100% of the employee’s salary
What are some employee retention strategies?
Increased compensation
- Fringe benefits
- Job-sharing
- Flextime
- Home-based work
What are the three branches of HR?
- Strategic
- Associate advocate
- Administrative
What are the responsibilities of strategic HR?
- At the MGT table
- Collaborative
- Planning
- Measurement
What are the responsibilities of associative advocate HR?
- HR development
- Employee and labor relations
What are the responsibilities of administrative HR?
- Equal employment opportunity
- Compensation and benefits
- Health safety and security
Operational HR is
Employee focused and reactive
Strategic HR is
Organizationally focused and proactive
Famous HR laws include
- Civil rights acts of 1964 & 1991
- Age discrimination act
- Equal employment opportunity
- Americans with disabilities
- Social security act
What is employment at will doctrine?
You may quit your job and employers may terminate whenever and for whatever reason you want, usually without consequence
Right not to be fired without cause -3 exceptions:
- Public policy exceptions (protects employees from being fired for refusal to commit crimes)
- Contractual actions (protects employees who they believe have contracts or implied contracts)
- Breach of good faith (employers are expected to hold a standard of fairness and good faith dealings)
What is substantive due process?
Right to fair treatment
Bill of rights and constitution
What is procedural due process?
Right to fair system of decision making
Includes an individual’s right to be adequately notified of charges or proceedings, and the opportunity to be heard at these proceedings to affect the judgment or result
What are the six functional areas of HR?
Labor and employee relations
Job analyses and design
Pay and benefits
Recruitment
Training and development
Performance management
What is the biggest interviewing mistake?
Little or no knowledge of the company
Most HR positions are shifting from _______ to ________
From administrative to strategic
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Stakeholder Theory20
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Legal Forms Of Business14
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Basic Marketing & economic systems19
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Consumer Protection8
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Human Recources18
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Employees And The Corporation5
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The Community And The Corporation12
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Supply Chain Managment7
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Basic Accounting16
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The challenges of globalization9
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Business Ethics16
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Freidman Vs Freeman & DISC personality22
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Legal Concerns For The Business Decision Maker9
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How Business Relates to Environmental Issues16
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None0
