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Lecture 3

HRM 3430 Lecture 3: Chapter 3
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Department
Human Resources Management
Course
HRM 3430
Professor
Leigh Lampert
Semester
Winter

Description
Chapter 3 Overview: -HRM strategy is determined primarily by organizational strategy. -BUT environmental factors shape HRM strategy, so HR managers and planners must continually monitor the environment. -Typically, they scan by reading publications, retaining memberships in professional associations, attending conferences, or using professional scanners. -A number of methods, such as trend and impact analyses, scenario planning and the Delphi technique, are used to identify future trends. -Monitored environmental factors include economic climate, the labour market, the political and regulatory climate, demographics and social norms. -Stakeholders such as shareholders, unions, customers, employees and executives contribute strongly to the formulation and implementation of strategy. Environmental scanning: -Environmental Scanning: systematic monitoring of the major factors influencing the organization -Goal is to identify trends within the external environment that might affect formulation and implementation of both organizational and HR strategies. What is external environment? -External environment: anything outside organizational boundaries that might influence an organization. -The external environment is not part of the organization but is tightly integrated with it. -Sources for analyzing the external environment can include publications, professional associations, conferences/seminars, professional consultants. -Note: Canadian HR managers can benefit strategically by reading US publications and attending US conferences. Many HR trends are seen 1-2 years earlier in the U.S. from when they become present in Canada. Analyzing the external environment: sources and methods – stages -Scanning: an attempt to identify early signals of changes and trends in the environment. This information is ambiguous, incomplete and unconnected. -Monitoring: a systematic approach to following some key indicators that may affect the organization, such as absenteeism rate in the working population due to a certain type of illness. -Forecasting: after monitoring a trend, an attempt is made to project the possible impact on the organization. -Assessing: an attempt to describe the impact of the monitored trend
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