Human Resource Management Final Study Guide Answers Essay

Executives believe that their emphasis on HR activities has contributed significantly to the Bank of Montreal’s achieving period profits for seven years in a row. In summary, it is evident that the transition of HR management at GE Fanuc and at Bank of Montreal has enhanced organizational competitiveness and success.1

1. Define and explain the significance of the term ‘derived demand’ as it applies to Strategic Human Resources Planning. (5 marks)

Employment practices of organizations in the United States are regulated at federal and state levels. The human resource process is impacted by regulatory requirements in the workplace. Legal and social regulations are crucial when managing the workforce or future supplies for labor in the workplace.

Here I am going to explain what the purpose of workforce planning is and why as a result vacancies may occur. I am also going to identify and describe the internal and external factor that impact an organisations’ decision to recruit.

Identify and explain the various techniques for forecasting labor supply and labor demand. What can organizations do in the

* There will be employee shortages in the upcoming year that will require the company to seek outside sources in the form of new hires, temporary assignments and temporary hires. There will be a

3. Conduct a workforce analysis: This assessment involves forecasting both the firm’s demand labor and the supply of labor available in the market. Next, a firm must ascertain any gaps between both factors (Phillips & Gully, 2015, p. 117).

The report below sets out the importance of the HR function, explains how HR activities support the organisation’s strategy and ways HR support line managers and their staff.

For many companies, health insurance can become a challenge especially for those companies who make small profits trying to exist in today’s economy. That is the case for Quality Auto Parts, a company who has seen its profits from the late 80’s increase and decrease at different variables until today. During the recent recession the decline in auto sales put a damper on the auto parts dealers as well. This did not make things better when the doubling of health insurance benefits continues to rise over the years.

Kim lives and works in a small town, even though she prefers life in a bigger city. She is quite dissatisfied with her current job and is thinking of leaving the organization. She is worried, however, about her ability to find other employment that pays as well as her current job. Additionally, she is concerned about finding another organization that offers medical benefits. Based on this information, Kim is experiencing _____.

The organization is currently facing a staffing shortage of qualified registered nurses (RN), therefore, they are focusing much of their attention on recruitment for current positions rather than forecasting for the future. However, the organization has partnered with Northwest Christian University to provide an RN to BSN program.

1. The Board of Directors, the Chief Executive Officer and the Executive Management Team has embarked upon a fundamental organizational shift. In order to reestablish their sustained competitive advantage in the market, the shift will take the organization from one which has always recruited, selected, trained and developed employees based on the traditional knowledges, skills and abilities to one that is primarily based on talents and strengths. As the Human Resources Director:

The term 'human asset ' may be characterized as the aggregate Knowledge, aptitudes, inventive capacities, and abilities and in addition the qualities, demeanor, methodologies and convictions of people included in the undertakings of the association. It is whole or total of intrinsic capacities, procured information and aptitudes spoke to buy gifts and aptitudes of persons utilized in an association.

Paragraph 4 Problem – How will the employer be impacted? What are the positives and negatives of your solution? How will the employees be impacted? What are the positives and negatives of your solution?

The main concern with the shortage of employees due to the region’s economic and social characteristics in the area of production line, since its level of education is very low. The risk of exploitation and the high cost of inputs greatly increase the liability of the partners. (Threats)