Human resource management 2

Outsourcing refers to the practice that reduces cost by giving some portions of work to outside suppliers as opposed to doing it internally (Martin, 2010). It is used by different companies as an effective cost-saving strategy owing to the fact that it is advantageous to purchase something from companies as opposed to producing it internally. This term can be relevant in a manufacturing company like Dell outsourcing computer components from a different manufacturer to save on cost or another outsourcing book-keeping duties to other firms of accounting which might be cheaper than retaining an internal auditor
The Equal Pay Act of 1963 is a the United States federal law amending the Fair Labour Standards Act, which is aimed at abolishing wage disparity which based on sex. The act was signed into law on June 10, 1963, by John F. Kennedy being part of his New Frontier Program. This act is very essential since as it may be used in any organisations that require employees.

HIPA refers to health insurance portability and accountability act which was enacted on August 21, 1996, by the United States Congress and signed by the president of the time. The act is very important because it protects HYPERLINK “https://en.wikipedia.org/wiki/Health_insurance_in_the_United_States” health insurance coverage for all the workers and their respective families when they lose or change their jobs.

Performance evaluation is a multipurpose tool whose main aim is to provide an opportunity for communication regarding performance expectations and expected feedback.

This helps the employee to understand their employer’s expectation and to improve their performance (Heery, 2008).Performance evaluation is important since it enhances employee motivation, productivity and commitment, employees identify their goals and objectives and employees identify opportunities. This can be used in large companies like coca cola for the purposes of expectations and relevant feedback,

WARN Act refers to the Worker Adjustment and Retraining Notification, which was enacted on 4th August 1988 and effected on 4th February 1989.Warn Act is important because it protects workers and their families since it requires employers to provide a notice of 60 days prior to covered mass layoffs and covered plant closings this happens through representatives of the workers. This can be used in a large firm for example Samsung.

Profit sharing is the various incentive plans put in place by businesses providing either direct or indirect payments to those employees depending on the profitability in addition to their regular pay and bonuses (Nkomo, 2011). This is important because the economic sharing rules are predetermined. This term can apply in a manufacturing organisation.

EEO stands for equal employment opportunity which specifically prohibits discrimination on certain jobs in workplaces. This can be used in workplaces where work is divided equally among employees and making sure that every employee participates. It is an interesting term since it should be applied in all organizations to ensure that employees are given the morale they need to do their work, and this intern increases their self-esteem.
SWOT analysis is another term that stands for strength, weaknesses, opportunities and threats. It can be used in an organization to determine external and internal influences. Internally it can be used in decision-making and strategic planning. “Performing a SWOT analysis is a great way to improve business operations and decision-making,” This are words by Andrew Schrage, who is the CEO and founder of Money Crashers.
Career development is a vital aspect of human resource management, and it entails formation of a person’s work identity. It is an aspect which an individual becomes aware of how people make a living. A good example is a child who notices that some people are teachers; others are doctors while others are engineered.
Job analysis entails determination and identification of particular job requirements and duties and the importance of such duties for a particular job. It has the purpose of documenting and establishing job relatedness of employment procedures such as compensation, selection, and training and performance appraisal (Heery, 2008). In training needs, it develops training content while, in compensation, job analysis determines things like work environment and responsibilities. Job analysis can be done via; expert panels, checklists, structured questionnaires and incumbent interviews. The method used depends on practical concerns like; the number of jobs, the location of jobs, type and number of the incumbent.
COBRA is another term that stands for Consolidated Omnibus Budget Reconciliation Act. It is an Act that gives workers and their families a chance for a temporary extension of their health coverage in case coverage under the normal plan ends. It requires plans and employers to provide notice and also outlines how employees and family members may elect continuation coverage.
Employee orientation is an effective integration of new employees into an organization, and it helps in job satisfaction, motivation, retention and enables individuals to become quickly contributing members of the organization (Martin, 2010). Examples of orientation services include; training, consulting, action planning and couching
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The most interesting thing that I have learned is that these terms are important aspects that are and should be applied in all organizations. The human resource department as stated earlier is the one charged with the responsibility of implementing these aspects. These are aspects that I did not know.

References:
Heery, E., Noon, M., & Oxford University Press. (2008). A dictionary of human resource management. Oxford: Oxford University Press.
Martin, J. (2010). Key concepts in human resource management. Los Angeles: SAGE.
Nkomo, S. M., Fottler, M. D., & McAfee, R. B. (2011). Human resource management applications. Mason, OH: South-Western Cengage Learning.

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