Management Fundamentals

Business

Quiz 7 :

Human Resources Management

Quiz 7 :

Human Resources Management

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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. What pay system do you prefer? Why is this your preference?
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Compensation is what employee gets for working for the company. It includes pay and benefits. It is one of the most important factors in retaining the employees.
There are various types of pay system. Wages are paid on hourly basis. If an employee has worked for 6 hours in a day, he would be paid for six hours for that day at a pre-determined rate.
Salary is paid based on time period for which the person was employed. It does not matter whether an employee actually performed work or was idle. Salary would be paid anyway.
Incentives are paid for based on performance. It may be based on piece rate, production, as commission based on sales, or merit based pay driven by productivity and bonuses. Bonus itself may be given based on the overall performance of the organization or for achieving specific objectives.
I prefer salary based pay system. This provides a kind of security that other systems do not provide. For example, it is possible that an employer may not be able to allocate enough work in a wage based system.
In that case, even if an employee is willing to work, he would not have sufficient work and lose his earning. Incentive based pay may also be subject to influences outside the control of employees. If an employee falls sick, he would lose his wage or incentive based pays.
Incentive based pay works best when combined with salary.

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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. Do you agree that the job interview should be the primary criterion for selection?
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It is natural that interview process is an important and primary method of selection.
Open position in an organization is filled by the selection process. This process looks at many internal and external candidates and selects the most suitable one for the opening. Selection process may vary from job to job within the same organization.
Typical selection process
Selection process may consist of one of many following steps. Every candidate applying for the job may be required to fill in an application form. Sometime a resume replaces the application form.
Interview is conducted over the phone and face to face. It is the most important part of the selection process. Background checks and reference checks are performed to make sure that candidate has provided correct information.
Importance of the interview process
Most of the selection process puts a lot of weight on an interview. This is not surprising. Interview offers a lot of benefits that other methods do not offer.
Interview allows the interviewers to ask follow up questions and clarification to understand the candidate better. Interview process allows judging the candidates in attitude, behavior and other soft aspects. Interview process also allows candidates to seek clarifications and more information about the job.
Interview process is a quick process in which interviewer and interviewee does not have to spend time read or writing. It offers convenience that other methods don't. Most of these benefits are not offered by other method.

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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. Which human resource management process is not covered on Citigroup's "Careers at Citi" Web site?
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Citigroup website outlines several human resources practices for visitors to their website and future employees. This is found at "Careers at Citi."
There is no mention of human resources planning at the website. This does not mean that they don't have a planning process in place. But the website does not mention or elaborate on this under any heading. Hence, choice a. is the correct choice.
Citigroup website covers recruitment. It has three types of recruitment processes in place. One is for campus recruitment, another is for permanent hires for experienced positions and third one is for temporary hires. This is all about attracting the employees.
Hence, choice b. is incorrect.
Citigroup website talks about training. It points out that employees can participate in training related to developing skills or professional development training. Developing employees is covered on Citigroup's website.
Hence, choice c. is incorrect.
Citigroup website talks about compensation and benefits. It also talks about diversity at workplace, employee feedback and collective bargaining. These are all about retaining employees.
Hence, choice d. is incorrect.

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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. During the years 2007-2009, which human resources management process was most likely the least important for Citigroup?
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. Why don't most employees realize how expensive benefits are and how much they contribute to compensation cost?
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. What is the most common problem to avoid during interviewing?
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. Citigroup practices effective strategic human resources planning.
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. During the years 2007-2009, Citigroup lost a lot of their employees through attrition.
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. What is your opinion of the use of bona fide occupational qualifications (BFOQs)?
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. Citigroup's "Careers at Citi" Web site is primarily what type of recruiting source?
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. The use of collective bargaining is not necessary at Citigroup.
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Objective To improve your skill at conducting training using the JIT model. Skills The primary skills developed through this exercise are: 1. Management skills - technical (to do the task) and interpersonal (to communicate and motivate the person to do the task) 2. AACSB competency - communication abilities 3. Management function - organizing (training and development) Preparing for Skill Builder 2 For this Skill Builder, you will prepare to conduct a training session in which you will use the steps of the job instructional training (JIT) process outlined in the text and illustrated in Model 7-3. Select a task: Begin by selecting a task or a skill that you are familiar with but that other class members may not know how to do. It should be a task or a skill that you can teach someone else in about ten minutes (for example, how to knit, an athletic technique, the basics of some computer software, the rules of a card game, how to perform a magic trick, or the like). Set objectives: Write down your objectives for the training session. Prepare for training: Write a description of your training session, making sure that it follows the steps in the JIT process. Your plan should include a description of how you will measure and evaluate your training results. The training itself will be conducted in class. Plan to bring to class anything you'll need for your training (knitting needles and yarn, a deck of cards, or whatever). Apply It What did I learn from this experience? How will I use this knowledge in the future? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. What is your opinion of using promotions from within as a recruiting source?
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Objective To develop your understanding of the hiring process. Skills The primary skills developed through this exercise are: 1. Management skill - decision making (conceptual, diagnostic, analytical, and critical-thinking skills are needed to select an employee) 2. AACSB competencies - analytic skills and reflective thinking skills 3. Management function - organizing (staffing) Preparing for Skill Builder 3 For this Skill Builder, you will use the concepts discussed in the chapter to answer the following questions on how you would go about hiring a new professor to teach at your college. 1. Write a brief job description and job specifications for an opening to teach this and other related courses full time. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ 2. Write a list of questions that you will ask the candidates during the job interview. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ 3. What methods would you use to evaluate the professor's teaching performance? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ 4. How much does the position pay, and what are the benefits (if any)? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Apply It What did I learn from this experience? How will I use this knowledge in the future? ______________________________________________________________________ ______________________________________________________________________ Your instructor may ask you to do this Skill Builder in class in a group. If so, the instructor will provide you with any necessary information or additional instructions.
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. If you work as a manager for a company with a human resources department, does this mean that you don't have to orient and train employees? Explain.
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. From reading the case, it seems that Citigroup gets most of their employees from ____ recruiting.
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Citigroup is a major American financial services company based in New York City. It is one of the "Big Four Banks" in the U.S., along with Bank of America, JPMorgan Chase, and Wells Fargo. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in 1998. Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company has 260,000 employees around the world and holds over 200 million customer accounts. Citigroup experienced almost a decade of great prosperity, having revenues of over $85,000 and a stock market value of $300 billion in 2006. However, that all changed with the subprime mortgage crisis that hit in 2007. Heavy exposure to troubled mortgages in the form of collaterized debt obligation (CDOs), compounded by poor risk management, led Citigroup into major trouble. The company had used elaborate mathematical risk models that looked at mortgages in particular geographic areas but never included the possibility of a national housing downturn, or the prospect that millions of mortgage holders would default on their mortgages. As the crisis began to unfold, Citigroup announced in April 2007 that it would eliminate 17,000 jobs, or about 5 percent of its workforce, in a broad restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and brokerage firm Bear Stearns ran into serious trouble in the summer of 2007, Citigroup decided the possibility of trouble with its CDOs was so small that it excluded them from its risk analysis. This turned out to be a fatal mistake for the company. By November 2008, the ongoing crisis hit Citigroup hard and the U.S. government was forced to intervene with a massive $45 billion bailout to rescue the company from having to declare bankruptcy. As a result, Citigroup announced plans for about 52,000 new job cuts, including many among the ranks of senior executives, and Wall Street responded by dropping its stock market value to $6 billion. In their end-of-year 2008 Annual Report, the company reported a net loss of $27.7 billion. To put it in perspective of just how far and fast Citigroup had fallen, the company had reported a $21.8 billion net income just two years earlier. In 2009, Citigroup began a turnaround strategy. In January, the company announced its intention to reorganize itself into two operating units: Citicorp, for its retail and investment banking business, and Citi Holdings, for its brokerage and asset management. The next month, Citigroup announced that the U.S. government would be taking a 36 percent equity stake in the company by converting $25 billion of the emergency aid provided to Citigroup into common shares. By the end of the year, Citigroup had repaid the other $20 billion owed to the government and was no longer deemed to be a beneficiary of "exceptional financial assistance." The company reported an overall net loss of $1.6 billion for the year-a huge improvement from their 2008 $27.7 billion loss. Even though the company has endured some difficult times recently and was forced to lay offhundreds of thousands of workers, Citigroup is still one of the top places to work in the United States, and its human resources department is still considered one of the best in the industry. Citigroup's "Careers at Citi" Web site discusses seven aspects of their human resources management: • Recruitment. Citigroup's professional resourcing team provides key recruitment strategies for implementation at all levels across the company. They have a strong graduate recruitment team who works to recruit the most talented graduates in the market, a permanent recruitment team who works with managers in hiring the future business leaders of the company, and a temporary recruitment team who provide temporary workers and contractors. • Citigroup has a dedicated Web site for graduate recruitment ( http://oncampus.citi.com) which allows recent graduates to learn about Citigroup and search and apply for open positions by region, country, degree level, entry level, and type of job (e.g., sales). By clicking on a keyword, potential employees can find a program of training that matches their educational background and interests. Program applications can then be completed online and submitted for consideration. • Diversity. Citigroup values a work environment where diversity is embraced. The company aims to be a leader in the attraction, selection, and hiring of diverse candidates to positions at all levels of the organization through open, fair, and objective recruitment policies. • Listening to Employees. Employee feedback is important. Citigroup gathers opinions in many ways, including periodic "pulse" surveys and the annual employee opinion survey. Managers use the feedback to improve performance and strengthen the culture. • Training. Citigroup's training and development specialists design programs to meet the specific needs of each business unit, and offer training in classrooms and online. Employees can participate in leadership, management, and professional development programs that give them the skills they need to succeed in their roles, grow with the company, and reach their potential. • Performance Evaluation. Citigroup measures employee performance and allows managers to provide specific feedback to clarify employee expectations, facilitate growth, and inform pay and promotion decisions. • Compensation and Benefits. Citigroup's compensation and benefits team is comprised of Compensation, Benefits, Relocation, Tax, Deferred Compensation, and Pensions specialists. The specialists develop and implement compensation strategies to ensure that Citigroup offers and executes some of the most effective compensation plans in the industry. For example, Citigroup offers child care and elderly care services to more than 81,000 employees. Employees are also able to have flexible work schedules. • Unions and Collective Bargaining. Citigroup supports the freedom of association for employees and the right to organize and bargain collectively. Employees have formed and joined unions in many of Citigroup's operations around the world. Citigroup's temporary recruitment team most likely recruits employees via
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Objectives To perform a job analysis and to develop skills in employment interviewing Skills The primary skills developed through this exercise are: 1. Management skill - decision making (conceptual, diagnostic, analytical, and critical-thinking skills are needed to select an employee) 2. AACSB competencies - communication abilities and analytic skills 3. Management function - organizing (staffing) Recruiting You are in your first year as athletic director at a high school. The tennis coach position is open, and you must fill it. The compensation for the job is set in the budget; the coach is to be paid in one lump sum at the end of the season. The salary is competitive with the pay of other tennis coaches in the area. Because you have no recruiting budget, you do some internal recruiting and contact some athletic directors in your area to spread the word about the opening. You recruit three candidates for the coaching position. Following are descriptions of their qualifications. • Candidate A has been a history teacher at your school for ten years. This person was the tennis coach for two years. It's been five years since this person coached the team. You don't know why the candidate stopped coaching or how good a job was done. Candidate A never played competitive tennis. However, someone told you that the candidate plays regularly and is pretty good. You guess the teacher is about 35 years old. • Candidate B works as a supervisor on the 11 p.m. to 7 a.m. shift for a local business. This candidate has never coached before. However, the person was a star player in high school and college. Candidate B still plays in local tournaments, and you see the name in the local newspaper now and then. You guess this candidate is about 25 years old. • Candidate C has been a basketball coach and physical education teacher at a nearby high school for the past five years. The person has a master's degree in physical education. You figure it will take the person 20 minutes to get to your school. Candidate C has never coached tennis, but did play on the high school team. The candidate plays tennis about once a week. You guess the person is about 45 years old. Preparing for the Interviews Follow the six interview preparation steps in Model 7-1. (You can skip step 1, as there is no job description or specifications.) Because there are only three candidates, you have decided to interview them all. Conducting the Interviews During the in-class part of this exercise, you will conduct a job interview. Be sure to bring your written list of questions to class. • Procedure 1 (5-10 minutes). Break into groups of five or six, pass the lists of questions around to the other members, and discuss them. You may make changes to improve your list. For example, you may want to add some questions you had not thought of. • Procedure 2 (30-80 minutes). Each person elects to play the role of one of the three job candidates. While playing the role, you may use your real name but assume that you have the qualifications described earlier. Ad lib as necessary. Another member of the group plays the role of interviewer, and the third person is the observer. The interviewer uses the questions devised earlier to conduct the interview. The observer gives feedback at the end of the interview, and the group members discuss how the interview could be improved. • After the discussion, group members switch roles: A different group member plays another job candidate, and another group member acts as interviewer. Again, discuss the interview once it is completed before switching roles for a third time. • Procedure 3. Each member of the group selects the candidate for the job; members of the other groups will do the same. The class can discuss the reasons for choosing a particular candidate. Apply It What did I learn from this experience? How will I use this knowledge in the future? ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. Why do you think that most organizations do not employ state-of-the-art human resources management (HRM) practices?
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The following critical-thinking questions can be used for class discussion and/or as written assignments to develop communication skills. Be sure to give complete explanations for all questions. What is your view of performance appraisals? How can they be improved?
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