MHR 849 Lecture Notes - Classical Economics, Human Capital, Outsourcing

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Theories of the strategic management of human resources: resource-based view. Organization"s employees can provide a firm with competitive advantage. Employees who provide superior performance because of their skills or flexibility will enable a company to beat its competitors through superior service or the development of unique products: behavioural perspective. Different strategies require different behaviours from employees, which in turn are influenced by different hr practices. Hr"s role is to reinforce certain behaviours via the hr practices such as recruitment, selection, training, compensation, and performance: human capital theory. Human capital: the sum of employees" knowledge, skills, experience, and commitment invested in the organization. Employees help an organization achieve success because they are strategic resources. Planning process itself results in improved goal attainment. Improve organization"s performance goals of these hrm strategies are to shape employee behavior so that it is consistent with direction and meaning to employees and mitigate the need for control by substituting a consistency of purpose (mission)

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