WGU C202: Managing Human Capital
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Human Resource Strategy ✔✔Links the entire human resource function with the firm's business strategy.
Business Strategy ✔✔Defines how the firm will compete in its marketplace.
Total Rewards ✔✔The sum of all rewards employees receives in exchange for their time, efforts, and performance.
The combined intrinsic and extrinsic rewards of a job.
Employee Handbooks ✔✔Print or online materials that document the organization's HRM policies and procedures.
HRM: Human Resource Management ✔✔The organizational function responsible for attracting, hiring, developing, rewarding, and retaining talent.
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Outsourcing ✔✔Hiring an external vendor to do work for the company rather than doing it internally.
Nonfinancial Compensation ✔✔Rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment.
Intrinsic Reward ✔✔Non-monetary rewards derived from the work itself.
Competitive Advantage ✔✔Doing something differently from the competitor thus leading to outperformance and success.
Talent Philosophy ✔✔A system of beliefs about how an organization's employee should be treated.
Shared Service Center ✔✔Centralized routine, transaction-based HRM activities.
Professional Employer Organization ✔✔A company that leases employees to companies that need them. 2 / 4
Direct Financial Compensation ✔✔Compensation received in the form of salary, wages, commissions, stock options, or bonuses.
Virtue Standard ✔✔The ethical action is consistent with certain ideal virtues including civility, compassion, benevolence, etc...
Common Good Standard ✔✔The ethical action shows respect and compassion for all others, especially the most vulnerable.Respect and compassion for all
Codes of Conduct ✔✔Specifies expected and prohibited actions in the workplace and gives an example of appropriate behavior.
Stakeholder Perspective ✔✔Considering the interests and opinions of all people, groups, organizations, or systems that affect or could be affected by the organization's actions.
Performance Culture ✔✔Focuses on hiring, retaining, developing, motivating, and making work assignments based on performance data and results. 3 / 4
Organizational Culture ✔✔The norms, values, and assumptions of organizational members that guide members' attitudes and behaviors.
High-performance Work System ✔✔High involvement or high commitment organizations.
Code of Ethics ✔✔A decision-making guide that describes the highest values to which an organization aspires.
Rights Standard ✔✔The ethical action is the one that best respects and protects the moral rights of everyone affected by the action.
Corporate Social Responsibility ✔✔Businesses showing concern for the common good and valuing human dignity.
Fairness Standard ✔✔The ethical action treats all people equally, or at least fairly, based on some defensible standard.
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