MGMT10002 Lecture Notes - Human Resource Management, Performance Appraisal, Human Capital
5 May 2018
School
Department
Course
Professor
Lecture 10 : HRM and managing diversity
HR→ managing human capital assets. Find the people, manage talent, maintain an effective
workforce
Human capital assets: collective sum of attributes, life experiences, knowledge, inventiveness, energy
and enthusiasm that its people choose to invest in their work.
Human resource management: The design and application of systems, policies practises to ensure the
effective building and use of assets to accomplish org goals.
o Attracting talent
▪ Find the right people
• HRM planning
• Forecasting
• Recruiting
• Selecting (using social media as well)
o Retaining talent
▪ Maintain an effective workforce
• Wages and salary
• Benefits
• Labour relations
• Terminations
o Developing talent
▪ Manage talent
• Training and Development: understanding org demand/ needs and
evaluating whether workforce has them. Org systematic and planned
activities to ensure they have these skills.
• Performance appraisal: process of observing and evaluating on
employee’s performance, recording assessments and providing
feedback
• Mentoring: mentor – at any level, provide emotional support, feedback
on how to improve, role models, help navigate corporate politics and
increase competency and self-work
Sponsor: senior members with influence, give expensive protect, fight
for promotions
• Performance appraisal: challenges of accuracy
o Bias and errors in performance evaluation
▪ Stereotyping
▪ Halo effect
▪ First impression
o Can be overcome
▪ BARS: behaviourally-anchored rating scale
▪ 360-degree feedback
• Mentor: emotional and career support
• Sponsor: senior member, give exposure, protect and fight for promotion
• Reward structures
o Pay for performance: alignment of individual incentives with organisational goals will
enhance motivation and aid performance.
▪ Non-monetary pay
• Nice location
• Nice office
▪ Direct pay
• Salary
• Rates
▪ Indirect pay
• Health care, housing etc.
▪ Incentive pay
• Pay contingent on performance
find more resources at oneclass.com
find more resources at oneclass.com
