Advantage

LESSON 1

Key functions in HR Management.
Human Capital.

 

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THINK: What does „HR” [tooltip][phrase]stand for[/phrase][def]to stand for – to mean[/def][/tooltip]?

THINK: What does „HR” mean for you? What is your own definition of „HR”

EXPLAINthe definition using your own words.

WHATdo you associate „HR” with? Write down your own ideas.

 

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• HOWDO YOU PUT ?employing people? IN A SPECIALIST LANGUAGE?
• MATCHyour ideas with the key functions in HR management.

 

W puste, podkreślone pola po lewej stronie tabeli możesz wpisać własne odpowiedzi, a potem porównać z kluczem, znajdującym się pod ćwiczeniem.

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Rekrutacja i dobór pracowników	Recruitment & Selection ->	example: employing people
Szkolenia i rozwój pracowników	Training & Development (people or organization) ->	example: organizing trainings
Ocena pracowników	Performance Appraisal/Performance Evaluation ->	example: assessing employees
Awans i przeniesienia pracowników	Promotions/Transfer ->	example: promoting
Zwolnienia pracowników	Redundancy ->	example: firing, dismissing people, making people redundant
Prowadzenie akt pracowników	Record keeping of all personal data ->	example: keeping the personal data
Wynagrodzenie pracowników	Total Rewards: Employee Benefits & Compensation ->	example: rewarding employees
Planowanie ścieżki rozwoju	Career development ->	example: planning career

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VOCABULARY EXERCISE 1

Complete these sentences with suitable words or expressions.

 

1. is the process of identifying that the [tooltip][phrase]organization[/phrase][def]Entity that gets inputs of data, materials as well as human and other assets from its business environment. It turns these into outputs in the form of goods and/or services.[/def][/tooltip] needs to employ someone up to the point at which application forms for the post have arrived at the organization. then consists of the processes involved in choosing from applicants a suitable candidate to fill a post.
2. At the end of every 6 months a review or takes place.
3. If you are made redundant you may be entitled to  pay if you have worked for your employer for at least two years.
4. provide employees with the opportunity to develop their skills and talents, which can contribute to career growth and advancement within the company.
5. Good is an important part of a professional?s task. Records should use clear, straightforward language, be concise, and accurate.
6. include everything the employee perceives to be of value resulting from the employment relationship.
7. There are five elements of total rewards:

• Compensation
• Benefits
• Work-Life
• Performance and Recognition
• opportunities

[key]

1. Recruitment is the process of identifying that the organization needs to employ someone up to the point at which application forms for the post have arrived at the organization. Selection then consists of the processes involved in choosing from applicants a suitable candidate to fill a post.

2. At the end of every 6 mo nths a  performance review or appraisal takes place.

3. If you are made redundant you may be entitled to  redundancy pay if you have worked for your employer for at least two years.

4. Training and development provide employees with the opportunity to develop their skills and talents, which can contribute to career growth and advancement within the company.

5. Good record keeping of personal data is an important part of a professional?s task. Records should use clear, straightforward language, be concise, and accurate.

6. Total rewards include everything the employee perceives to be of value resulting from the employment relationship.

7. There are five elements of total rewards:

. Compensation

. Benefits

. Work-Life

. Performance and Recognition

. Development and Career o pportunities

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Check for the meaning and then check for the Polish equivalents.

 

Using the words and expresions from the exercises above describe your job.
To describe your job use the following phrases:

• my job title is ?
• I deal with ?
• my duties involve ?
• I am responsible for ?
• I develop (e.g. training programmes)
• I work closely with
• I prepare, carry out (e.g. screening & interviews)
• I analyze, select, conduct the 2 ^nd interview
• I shortlist applicants from the 1 ^st interview
• I monitor, check, support

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BEFORE READING -> THINK:WHAT IS HUMAN CAPITAL?

NOW READ THE TEXT:

Human Capital by Gary S. Becker

The Concise Encyclopedia of Economics

 

 

To most people, capital means a bank account, a hundred shares of IBM stock, assembly lines, or steel plants in the Chicago area. These are all forms of capital in the sense that they are assets that yield income and other useful outputs over long periods of time.

But such tangible forms of capital are not the only type of capital. Schooling, a computer training course, expenditures on medical care, and lectures on the virtues of punctuality and honesty are also capital. That is because they raise earnings, improve health, or add to a person?s good habits over much of his lifetime. Therefore, economists regard expenditures on education , training, medical care, and so on as investments in human capital. They are called human capital because people cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets.

 

 

Education, training, and health are the most important investments in human capital. Many studies have shown that high school and college education in the United States greatly raise a person?s income, even after netting out direct and indirect costs of schooling, and even after adjusting for the fact that people with more education tend to have higher IQs and better-educated, richer parents. Similar evidence covering many years is now available from more than a hundred countries with different cultures and economic systems. The earnings of more-educated people are almost always well above average, although the gains are generally larger in less-developed countries.

 

 

Of course, formal education is not the only way to invest in human capital. Workers also learn and are trained outside schools, especially on the job. Even college graduates are not fully prepared for the labor market when they leave school and must be fitted into their jobs through formal and informal training programs. The amount of on-the-job training ranges from an hour or so at simple jobs like dishwashing to several years at complicated tasks like engineering in an auto plant. The limited data available indicate that on-the-job training is an important source of the very large increase in earnings that workers get as they gain greater experience at work. Bold estimates by Columbia University economist Jacob Mincer suggest that the total investment in on-the-job training may be well above $200 billion a year, or about 2 percent of GDP.

 

 

New technological advances clearly are of little value to countries that have very few skilled workers who know how to use them. Economic growth closely depends on the synergies between new knowledge and human capital, which is why large increases in education and training have accompanied major advances in technological knowledge in all countries that have achieved significant economic growth.

The outstanding economic records of Japan, Taiwan, and other Asian economies in recent decades dramatically illustrate the importance of human capital to growth. Lacking natural resources – they import almost all their energy, for example – and facing discrimination against their exports by the West, these so-called Asian tigers grew rapidly by relying on a well-trained, educated, hardworking, and labor force that makes excellent use of modern technologies. China, for example, is progressing rapidly by mainly relying on its abundant, hardworking, and ambitious population.

Match the titles with the paragraphs.

1. The economic growth vs investments in human capital
2. The importance of the on-the-job training
3. The most important investments in human capital
4. Two types of capital

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Proper order: 3, 2, 4, 1

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Match the words with their definitions

 

asset	a useful or valuable quality, skill or person / zaleta, atut, plus
to yield	to supply or produce something positive such as profit / wydawać, przynosić, dostarczać
output	an amount of something produced by a person, machine or a country / wydajność, produkcja, moc, dorobek
tangible	real or not imaginary, able to be touched / namacalny
virtue	a good moral quality in a person / cnota
net out	to cancel out positive and negative amounts / zbilansować
gain	when you get something useful or positive / zysk, osiągać
on the job	happening while you are working / ?podczas pracy?
accompany	to go with / to be provided with / towarzyszyć, być dołączonym do ?
conscientious	putting a lot of effort into your work / sumienny, staranny, skrupulatny
abundant	more than enough/ obfity / nadmierny

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1. He and his knowledge will be great to our team.
2. Cheap consumer goods are (= exist in large amounts) in this part of the world.
3. Last year British manufacturing fell by 14%.
4. Other benefits include an increase in salary and shorter working hours.
5. The minister was sacked for abusing power for his personal _________________ .
6. Patience is a _________________ .
7. The investigation ___________________ some unexpected result.
8. No formal qualifications are required for the work ? you will get __________________ training.
9. The course books are ________________________ by four cassettes.
10. He is a very _____________________ worker.
11. In finance you might ____________________an account by cancelling amounts owed against amounts due in order to eliminate offsetting transactions.

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1. He and his knowledge will be great asset to our team.

2. Cheap consumer goods are abundant (= exist in large amounts ) in this part of the world.

3. Last year British manufacturing output fell by 14%.

4. Other tangible benefits include an increase in salary and shorter working hours.

5. The minister was sacked for abusing power for his personal ____ gain _ .

6. Patience is a __ virtue ____ .

7. The investigation ____ yielded __ __ some unexpected result.

8. No formal qualifications are required for the work ? you will get ____ on the j ob _____ training.

9. The course books are ____ accompanied _____ by four cassettes.

10. He is a very ___ conscientious ___ worker.

11. In finance you might __ net out ___ an account by cancelling amounts owed against amounts due in order to eliminate offsetting transactions.

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Make the questions and answer them.

Questions to paragraph 1.

• What / to be / of / the / capital / types / two?

 

 

• What / economists / some / as / investments / regard / human / capital / in ?

 

Questions to paragraph 2.

• What / a / person?s / raise / USA / income / the / in ?

 

 

• What / many / and how / countries / to be / available / the / from / evidence / the / correlation / higher education / between / higher / income / for / from ?

 

 

Questions to paragraph 3.

• What / to be / apart from / education / formal / example / another / of / human / in / capital / investing ?

 

 

• What / GPD / for / stand ?

 

 

Question to paragraph 4.

• What / economic / on / depend / growth?

 

 

• Why / the / to be / so-called / tigers / Asian / of / good examples / investing / the importance / of / human capital / in?

 

[key]

Questions to paragraph 1.

• What / to be / of / the / capital / types / two?

 

 

• What / economists / some / as / investments / regard / human / capital / in ?

 

Questions to paragraph 2.

• What / a / person?s / raise / USA / income / the / in ?

 

 

• What / many / and how / countries / to be / available / the / from / evidence / the / correlation / higher education / between / higher / income / for / from ?

 

 

Questions to paragraph 3.

• What / to be / apart from / education / formal / example / another / of / human / in / capital / investing ?

 

 

• What / GPD / for / stand ?

 

 

Question to paragraph 4.

• What / economic / on / depend / growth?

 

 

• Why / the / to be / so-called / tigers / Asian / of / good examples / investing / the importance / of / human capital / in?

 

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Follow-up discussion. Think of the issues below:

1. Do you see the importance of investing in human capital?
2. Is human capital indeed so important?
3. To what extent does your country invest in human capital?
4. What?s the attitude of your company towards investing in human capital?