HRM 2600 Lecture Notes - Lecture 1: Business Process, Saatchi & Saatchi, Shared Experience

• School: York University
• Department: Human Resources Management
• Course: HRM 2600
• Professor: Althea Gordon

Document Summary

Human capital is the knowledge, skills, and capabilities of employees that add economic value to an organization. Even if some key people leave, it"s important to have others in the organization: ex: ceo of saatchi & saatchi gets fired by the board and stock plummets; the ceo and his team were the human capital. Human capital and hrm: creation of knowledge, utilization of knowledge, application of knowledge. It"s foolish to let talent go after developing them, so companies like sun microsystems ask employees to work on long-term projects or take unpaid vacations in tough times. Brain waste: the biggest mistake that companies make is not using the human capital they have. A way of applying knowledge is to post ideas, wisdom, knowledge, problems on an intranet to share solutions or best practices so that other units can benefit from this shared experience.