HRM107 Lecture Notes - Lecture 2: Primary Sector Of The Economy, Outsourcing, Workforce Planning
30 May 2018
School
Department
Course
Professor
Week 2 The Context of HRM
Successful Debating
find more resources at oneclass.com
find more resources at oneclass.com
Understanding Global Changes
- Hyper competitive environments
- Short of product cycles and are subjected to disruptive change
- Shorter production and industry life cycles (e.g. cars, phones)
- Successful firms are the ones who can respond the quickest and effectively to
these rapid changes
- This is called ‘dynamic capabilities’
- Organisations commodify ‘time’ (e.g. self-service checkouts > profits > loss of
jobs)
Importance of Understanding the Environment
- Structured governance and business case development
- Developed advanced workforce planning capabilities
- Having the right HR philosophy
- Reducing admin processes
- Implement flexible design
- Improve employee facing HR systems
- Having effective metrics to measure impacts of HR initiative
- Developing internal skills
- Outsource HR strategically
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Short of product cycles and are subjected to disruptive change. Shorter production and industry life cycles (e. g. cars, phones) Successful firms are the ones who can respond the quickest and effectively to these rapid changes. Organisations commodify time" (e. g. self-service checkouts > profits > loss of jobs) Having effective metrics to measure impacts of hr initiative. Globalisation the increased pace of economic and cultural interconnectedness between different countries. The interconnectedness of countries has deepened considerably in the past two decades. Impact of the global financial crisis on hrm. Receptivity of local workforce to adhere to corporate norms of behaviour. Effectiveness of expatriates as agents of socialisation. Whether localisation is timely (not just prompted by cost considerations) Fluctuations in response to global and domestic factors. Changes in industry and occupational structures e. g. decline in agriculture > rise in importance of manufacturing and relative decline in manufacturing > rise of services. Imb 50% revenue from service divisions rather than product divisions.
