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Human Resource Management - PowerPoint PPT Presentation

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Human Resource Management. Small Business Considerations. Learning Objectives. LO1 Explore the decision to hire full-time or part-time help LO2 Understand how to recruit good employees on your budget LO3 Know how to match the right person to the job

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Human Resource Management

Small Business Considerations

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Learning Objectives

LO1 Explore the decision to hire full-time or part-time help

LO2 Understand how to recruit good employees on your budget

LO3 Know how to match the right person to the job

LO4 Learn about employee training methods and resources

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Learning Objectives

LO5 Gain insight in meeting employees’ needs and expectations

LO6 Learn how to develop a fair compensation and benefit plan

LO7 Understand the complexities of managing family within your business

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Hiring Employees

  • No decision is as important or complex as the decision to hire an employee

  • Of the 25.4 million businesses in the United States in 2004, over 19.5 million had no employees

  • Adding employees increase amount of work that can be done – serving more customers, staying open longer

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The match between the needs, expectations, and culture of the small business with the expectations and the skills of the individual employee is called the ___________.

  • Screening test

  • Probationary period

  • Individual match

  • Employee fit

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Hiring Employees

  • Employee fit

    • the match between the needs, expectations, and culture of the small business with the expectations and the skills of the individual employee

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Hiring Employees

  • Probationary period

    • trial period in which an employee has temporary status before a formal offer to work full time is presented

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Federal Laws That Apply as Small Businesses Grow

Figure 19.1

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Attracting Employees Businesses

  • Internet recruiting

    • Method of recruiting that allows you to search a résumé database or post a job description to the Web;

    • a small business owner who knows exactly what he or she wants can use filters to search vast numbers of résumés with pinpoint accuracy.

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Attracting Employees Businesses

  • Employee referral

    • An underused, low-cost method for finding workers that rewards your employees for recommending potential candidates that would be a great employee fit.

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Attracting Employees Businesses

  • Virtual employees

    • Independent contractors who provide specialized business services or support from a distance, through the Internet, telephone, fax, or another method of communication.

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Attracting Employees - Sources Businesses

  • Networking

  • Internet recruiting

  • Employee referral

  • Company websites

  • Career service offices

  • Professional groups

  • Outsourcing

  • Local churches and pastors

  • Local high school for entry-level jobs

  • State unemployment offices

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Matching the Worker to the Work Businesses

  • Job description

    • Defines and discusses all the essential knowledge, skills, and abilities that are needed to fill a position.

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Writing a Job Description Businesses

  • Start with a title

  • Give a job overview

  • Define the duties and responsibilities

  • Knowledge, skills, and abilities

  • Credentials and experience

  • Special requirements

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Writing a Job Description Businesses

Job analysis should include:

  • The reason the job exists

  • The mental or physical tasks involved

  • How the job will be done

  • The qualifications needed

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Evaluating Job Prospects Businesses

  • Create same specific questions you will ask of all candidates

  • Ask that person to demonstrate their skills

  • Consider involving one or two other interviewers

  • Never hire a moderately qualified just because you need someone now

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Training Your Employees Businesses

  • Where is training needed?

  • What key areas need the most attention?

  • What specifically must an employee learn in order to be more productive?

  • Who needs to be trained?

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Initial and Ongoing Training Methods Businesses

  • On-the-job training

    • Delivered to employees while they perform their regular jobs

    • Techniques include orientations, job instruction training, apprenticeships, internships and assistantships, job rotation, and coaching.

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Initial and Ongoing Training Methods Businesses

  • Off-the-job

    • Includes lectures, special study, videos, television conferences, case studies, role-playing, simulation, programmed instruction, and laboratory training

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Three Guidelines for Training Businesses

  • Give your employees opportunities to use their new skills

  • Make training an ongoing process

  • Think of training as an investment as opposed to an expense

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23 Rewards Offered Employees Businessesof Small Businesses

Table 19.3

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Rewarding Employees Businesses

  • Psychological contract

    • Refers to employees’ beliefs about the promises between the employee and the firm

    • Beliefs are based on the perception that promises have been made in exchange for certain employee obligations

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Rewarding Employees Businesses

  • Open-book policy

    • Concept that key employees should be able to see and understand a firm’s financials

    • should have a part in moving the numbers in the right direction

    • should have a direct stake in the strategy and success of the firm.

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Compensation, Benefits, and Perks Businesses

  • Living wage

    • The amount needed for a person (or family of a particular size) to meet the basic necessities of life from a single job.

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Compensation, Benefits, and Perks Businesses

  • Bonuses and Long-Term Incentives

  • Health Insurance

  • Retirement Plans

  • Perks

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Entrepreneurial Leadership Businesses

  • Entrepreneurial Leadership: leadership really means administration

    • Two key factors: Task and Person

  • Looks at how you operate as chief executive - 3 components:

    • Innovation

    • Operation

    • Inspiration

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Question Businesses

A management philosophy of selecting and promoting people based on family ties is called __________.

  • Family bias

  • Favoritism

  • Nepotism

  • Meritocracy

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Human Resource Issues Businessesin the Family Business

  • Nepotism

    • A management philosophy of selecting and promoting people based on family ties.

  • Meritocracy

    • A management philosophy of selecting and promoting people based solely on their being the most capable person for the job.

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Good Human Resource Practices for All Businesses Businesses

  • Transparent procedures with consistent application

  • Job basics

  • Job metrics

  • Task repair

  • Lines of communication

  • Clear termination rules

  • Line of appeal

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Dividing Up Ownership and Dividends Businesses

  • Owners of corporations often receive the base of their compensation as a salary

  • Family members receive similar packages

    • Higher than non-family members

    • Create profit sharing plans or bonus system for non-family members