HRM107 Lecture Notes - Lecture 1: Social Contract, Social Sustainability, Psychological Contract

• School: Macquarie University
• Department: Human Resource Management
• Course: HRM107
• Professor: Troy Sarina

Document Summary

Effective utilisation of hr towards broad goals and objectives. the rational, quantitative and strategic aspects of managing human resources. Soft hrm focuses on: involvement of employees through consultation, empowerment, commitment and communication. Ie unspoken rules that apply to career development, promotions, decision making, conflict resolution, resource allocation and layoffs: psychological contract this addresses aspects of the employment relationship which are mainly implicit. There is an increasing emphasis on the psychological contract between organisations and their employees. Employee engagement is linked to a strong, positive psychological contract. The concept of tbl suggests the companies responsibilities lie with stakeholders, not shareholders. Stakeholders are anyone who is influenced by the actions of the firm (eg employees, government, suppliers, residents, creditors) Tbl challenges the supremacy of the interests of one stakeholder over others (ie owners of the company over society or the environment) Tbl considers the triple bottom line of people, planet and profits.