Well, the answer to this question can be quite short - or quite long depending on your familiarity with algebraic topology. The short answer is: View the generator of $H_1(S^1)$, call it $\gamma$ as the loop which goes around $S^1$ precisely once. Then, the morphism $z \mapsto z^k$ will make $\gamma$ wrap around your $S^1$ precisely $k$-times, and therefore maps $\gamma$ of $H_1(S^1)$ to $k \gamma$. Since it induces multiplication by $k$ on the generator of $H_{1}(S^1)$ it must induce multiplication by $k$ on the whole of $H_1$.
This also agrees with the idea that the degree of a map is equal to the number of pre-images of a generic point - look at the map $z \mapsto z^{k}$, and choose a random point, say $p$, on $S^{1}$ in the image. Then, there are $k$ points in the pre-image which get mapped to $p$ which are $\frac{2\pi}{k}$ radians apart.