Basics of Human Resource Management

Case #9 Kerkko Jahnukainen Wells Fargo, a huge finance company in America, went through a scandal in 2016 when a scheme was uncovered conducted by the former CEO John Stumpf. This included creating fake unauthorized under the names of the current clients and using them to make profit. It has been said that nearly 2 million fake accounts had been created between 2011 and 2015. For this, over 5000 employees have been fired, for no reason. The case was originally brought to surface by a "whistle-blower", an ordinary employee down the corporate ladder. This is an issue of HRM, but maybe not in the traditional sense, as the problem here is not with the employees, but rather the management. Blaming, and even firing employees just to try to save yourself in not unethical but illegal as well. Of course, it was originally a HR-decision to let John Stumpf become to CEO in the first place, but that was nearly a decade go, until that point he probably was an honest and trustwort...

Case #8 Kerkko Jahnukainen Study Notes: Ch1: Meeting Present and Emerging Strategic Human Resource Challenges HR and the Challenges Environmental Challenges are forces external to the company Rapid change The internet revolution Requiring greater written communucatuion skills Dealing with information overflow Breaking down labour market barriers Using online learning Enabling HR to focus on management Workforce diversity Globalization Word wide company culture Worldwide reqruiuting Industrial metamorphis Global alliances A virtual workforce A Global enterprise Wage competition Legistlation Natual disaters and terrorism Competitive position: Cost, quality or distintive capabilties Controlling costs Improving quality Creating distintive capabilties Decentralzatuion Downsizing Technology Indivual Challneges MAtching people and prganzation Ethics and Responsinkuity Brain drain Prodcutivbty Empowerment ...

CASE #7 HRM Kerkko Jahnukainen Study notes: Ch. 6 Managing Employee Seperations, Downsizing, and Outplacement What are employee seperations? When an employee ceases to be a member of the organzation. The turnover rate is a measure at which employees leave the firm. Well managed companies measure and monitor the turnover rate and try find the causes. The cost of seperation - Differs accross organizations, and costs can be hard to evaluate. e.g. geographical location The Benefits of employee seperation - Reduced labor costs - Replacement of poor peformers - Increased innovations - The opportunity for greater diversity Type of employee seperation - Voluntary       - Retirments      - quits Involuntary      - Discharge      - Layoffs       - Rightsizing Managing early retirements - Early reiteirment policies      - Financial incentives - ...

Case #6 Kerkko Jahnukainen Learning materials Ch. 10 Managing Compesation Employees compensation (pay) consists of three components It's important to design a compensation system witch rewards employees accordingly.  - enables firm to achieve its strategic objectives  - is molded to fit firm's unique characteristics and environment The Distributive Justice Model  - Employees exchanges his/her skills, knowledge etc. to company for a payment The Labor Market Model  - Pay is based on the demand of the labor market Balancing Equity - A firm should try to establish both internal and external pay equity Question of fixed vs variable pay Perfromance vs membership Job vs individual pay  - In a knowledge-based pay or skilled-based pay system, employeess are paid for their skills and talents as they are the only ones cabale of perofrming the given jobs - A job based pay tends to work better in cases: - And invidual pay when: ...