21036 Lecture Notes - Lecture 2: Balanced Scorecard, Critical Role, Job Satisfaction
Document Summary
Recap of last week: what is performance management, how can performance management be strategic, balanced scorecard, strategic performance management as a process, benefits of a strategic approach, role of the hr function. Best practice hrm: universally applicable, resource-based view of the firm (rbv) = most recent (problematic, hr practices operate more effectively when combined together into a. 3 key theories: best practice hrm or universalistic approach = oldest of the theories, best fit or contingency approach = more recent, developed in 9(cid:882)(cid:495)s. Pfeffer(cid:495)s seven (r practices (1988) to stay in a company once hired now it(cid:495)s a commitment(cid:524) There are a set of sound, common hr practices that are universal across sectors irrespective of country of sector. Operate better when combined in a bundle (e. g. recruitment and selection fits in with induction rather than in silos) Communication = employees are informed, two way communication. Compensation = not just remuneration (wage, salary, bonuses, prp)
