People & Organizations an der LMU München

Karteikarten und Zusammenfassungen für People & Organizations an der LMU München

Arrow Arrow

Komplett kostenfrei

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

studysmarter schule studium
d

4.5 /5

studysmarter schule studium
d

4.8 /5

Lerne jetzt mit Karteikarten und Zusammenfassungen für den Kurs People & Organizations an der LMU München.

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

Definition

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

Six steps

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promise of Performance Management

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promotions

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promotion

Peter-principle problem

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

Can you provide a rough estimate of the costs for the performance management process? How do you calculate the costs? Where would you search for relevant information?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

How do the costs relate to revenues?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

How does performance management work? What would be lost if there was no performance management?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Performance management

What do you think will be the most significant problem with the new performance management process?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promotions

What are the promises that HRM sees in AI in the context of selection decisions, for example in recruitment and hiring, and in promotions?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promotions

What do you remember from last week’s text? How reliable is AI in the context of selection decisions?

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

Promotions

What does the current text say about reliability?

Kommilitonen im Kurs People & Organizations an der LMU München. erstellen und teilen Zusammenfassungen, Karteikarten, Lernpläne und andere Lernmaterialien mit der intelligenten StudySmarter Lernapp. Jetzt mitmachen!

Jetzt mitmachen!

Flashcard Flashcard

Beispielhafte Karteikarten für People & Organizations an der LMU München auf StudySmarter:

People & Organizations

Performance management

Definition

continuous process of identifying, measuring & developing performance of individuals & teams & aligning performance with strategic goals of organization

People & Organizations

Performance management

Six steps

  1. Prerequisites (understanding strategic goals & jobs in question)
  2. Performance planning (initial talk between supervisor & employee, agreement about goals & behaviors)
  3. Performance execution
  4. Performance assessment
  5. Performance review (supervisor & employee discuss assessment & consequences)
  6. Performance renewal & recontracting

People & Organizations

Promise of Performance Management

  • Goal alignment, more effective employee behaviors, information that can be used for administrative decisions (like pay adjustments, promotions, etc.)
  • Problem: Costs!

People & Organizations

Promotions

  • Promotion opportunities are strong incentives for high-performers
  • Unfair promotion processes create envy, frustration, & turnover
  • Promotion decisions can potentially lead to “Peter Principle” problem
  • There is hope, that new technologies (AI and people analytics) can improve promotion decisions 
    • Lower costs & faster processes
    • Broader reach
    • Fairer decisions, less biases

People & Organizations

Promotion

Peter-principle problem

  • person who is competent at job will earn promotion to more senior position which requires different skills
  • If promoted person lacks skills required for new role, he or she will be incompetent at new level, & will not be promoted again
  • This leads to Peter's Corollary: In time, every post tends to be occupied by employee who is incompetent to carry out its duties

People & Organizations

Performance management

Can you provide a rough estimate of the costs for the performance management process? How do you calculate the costs? Where would you search for relevant information?

  • Almost 2,000,000 hours spent on PM, mostly for assessments and (feedback) talks; 65,000+ employees
  • Deloitte global is much bigger, obviously numbers are from US only (71k professionals in 2017)
  • Partner to staff ratio about 1:12; almost 2,000,000 hours; rough guess: 200,000 for partners (stronger involvement in PM & promotion decisions), & 1,750,000 for professional staff
  • Average yearly partner earnings are unknown: assume it‘s about 750,000 USD a year; if we further assume 60 to 70 hour working week (on average), we arrive at approximately 3,500 hours per year, or 215 USD per partner hour
  • For professionals, assume 60 USD per hour
  • Approximate total PM costs are: (1,750,000 * 60) + (200,000 * 215) = 148,000,000 USD

People & Organizations

Performance management

How do the costs relate to revenues?

  • This is substantial. Revenues were about 18.5 Billion USD in 2017, & probably about 15 Billion USD when article was written. Approximately, PM process is about 1% of revenues. 1% of revenues sounds small
  • How does Deloitte create revenues? Well, through services provided by professionals & partners Does PM pay off in the end?

People & Organizations

Performance management

How does performance management work? What would be lost if there was no performance management?

  • Without PM process, there would be less strategic goal alignment, weaker performance to pay link, less well-informed promotion decisions, fewer incentives for reaching targets, etc.
  • In sum, it is hard to say whether PM process pays off –we can estimate costs, but not benefits à major problem for most HRM based calculations
  • For Deloitte, there is chance to evaluate economic effects from change of PM process
  • By keeping everything else constant (e.g., in regression analyses), they can compare revenues from before & after change (of course, there will be some empirical problems like endogeneity, but still…)

People & Organizations

Performance management

What do you think will be the most significant problem with the new performance management process?

  • Major problem will be less reliable performance assessment, as suggested by new PM process
  • People believed in old assessment (strong reliability), but thought process did not stir performance (low validity)
  • New model sounds less reliable, but Deloitte continues to use it for pay & promotion decisions
  • Research shows that people dislike (i.e., they feel unfairly treated) when unreliable processes are used for decision making
  • Future will show how Deloitte manages & moderates this trade-off.

People & Organizations

Promotions

What are the promises that HRM sees in AI in the context of selection decisions, for example in recruitment and hiring, and in promotions?

  • Take again real company, say Deloitte
  • In FY2019, Deloitte‘s global workforce was 312,028
  • Annual turnover rate was 21%, resulting in approximately 65,000 voluntary exits
  • In addition, there are retirements, deaths, etc
  • As response, & also to realize some growth, company hired 90,540 new employees (29% of total workforce), for which it received 3.2 million applications.
  • One promise of AI is faster & more efficient processing of applications. Imagine 3.2 million applications had to be evaluated manually
  • Of course, “traditional” IT solutions were already tailored to perform selections
  • However, criteria had to be defined ex ante, & systems did not learn over time
  • AI promises to learn from new & integrated data, and to adapt to new findings in running process
  • In end, as futurists argue, selections will happen without human involvement.

People & Organizations

Promotions

What do you remember from last week’s text? How reliable is AI in the context of selection decisions?

  • Management scholars are doubtful, though, that AI can keep that promise. For example, we have seen that AI is likely to replicate biases (e.g., against women promotions) from training data. In addition, there is evidence that gut feelings are not necessarily bad decision makers.
  • On other side, we also know that gut decisions are often worse than evidence-based decisions

People & Organizations

Promotions

What does the current text say about reliability?

  • As such, HRM (in case study) is probably right to remind Aliya of those decision fallacies, & to offer her AI-based support
  • Basic approach, to give managers more & more relevant information but let them make final decision, seems promising & plausible
  • Case study takes some interesting turns, though
    1. Conflict between Christine & Brad is typical for real settings
    2. Brad, data scientist, is interested in good algorithm, & admits that there is not enough evidence for current one
    3. Christine has pushed people analytics approach & stands in personally for it; she needs success story & is willing to overstress effectiveness & reliability of algorithm
    4. Brad’s flawed logic: Christine argues that Ed has high flight risk. Aliya correctly points to counterfactual, namely that not promoting Molly would increase Molly’s turnover risk. Brad responds that in prior analyses she was not flagged as at risk. His argument neglects that turnover risk depends on promotion decision & should not be extrapolated from past data

Melde dich jetzt kostenfrei an um alle Karteikarten und Zusammenfassungen für People & Organizations an der LMU München zu sehen

Singup Image Singup Image
Wave

Andere Kurse aus deinem Studiengang

Für deinen Studiengang People & Organizations an der LMU München gibt es bereits viele Kurse auf StudySmarter, denen du beitreten kannst. Karteikarten, Zusammenfassungen und vieles mehr warten auf dich.

Zurück zur LMU München Übersichtsseite

Forschungsfeld Politische Kommunikation

Medienökonomie

Öffentliches Recht Definitionen

Einführung PR 1-3: Definitionen, Funktionen und Geschichte der PR

Art. 12 I und 3 I

NEU MEDIENÖKONOMIE

MÖ Fragen

Einführung in die Kommunikationswissenschaft

Journalismusforschung

Indvidualarbeitsrecht

Politische Kommunikation

Völkerrecht

Medienrecht

KW I Sitzung 3

Arbeitsrecht Neu

KW I Sitzung 4

Urheberrecht

Grundbegriffe der Psychologie

Statistik KW

Einführung in die KW 2

Statistik PSY

VL Kollektives AR

International Management

Altklausur Kompetenzfeld BWL

Was ist StudySmarter?

Was ist StudySmarter?

StudySmarter ist eine intelligente Lernapp für Studenten. Mit StudySmarter kannst du dir effizient und spielerisch Karteikarten, Zusammenfassungen, Mind-Maps, Lernpläne und mehr erstellen. Erstelle deine eigenen Karteikarten z.B. für People & Organizations an der LMU München oder greife auf tausende Lernmaterialien deiner Kommilitonen zu. Egal, ob an deiner Uni oder an anderen Universitäten. Hunderttausende Studierende bereiten sich mit StudySmarter effizient auf ihre Klausuren vor. Erhältlich auf Web, Android & iOS. Komplett kostenfrei. Keine Haken.

Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards
Awards

Bestes EdTech Startup in Deutschland

Awards
Awards

European Youth Award in Smart Learning

Awards
Awards

Bestes EdTech Startup in Europa

Awards

So funktioniert's

Top-Image

Individueller Lernplan

StudySmarter erstellt dir einen individuellen Lernplan, abgestimmt auf deinen Lerntyp.

Top-Image

Erstelle Karteikarten

Erstelle dir Karteikarten mit Hilfe der Screenshot-, und Markierfunktion, direkt aus deinen Inhalten.

Top-Image

Erstelle Zusammenfassungen

Markiere die wichtigsten Passagen in deinen Dokumenten und bekomme deine Zusammenfassung.

Top-Image

Lerne alleine oder im Team

StudySmarter findet deine Lerngruppe automatisch. Teile deine Lerninhalte mit Freunden und erhalte Antworten auf deine Fragen.

Top-Image

Statistiken und Feedback

Behalte immer den Überblick über deinen Lernfortschritt. StudySmarter führt dich zur Traumnote.

1

Lernplan

2

Karteikarten

3

Zusammenfassungen

4

Teamwork

5

Feedback