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Lecture 2

HRM 3430 Lecture 2: Chapter 2

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Human Resources Management
HRM 3430
Leigh Lampert

Chapter 2 Overview: -Strategic HRM is a set of distinct but interrelated practices, policies, and philosophies  enable organizations  strategy. -By involving HR in the discussion of strategic policies, an organization has a better chance of being effective in the implementation of these policies. -Various approaches to linking HRM strategies to organizational strategies. -We can start with the corporate strategy that leads to the HR strategy, or start with the HR competencies that lead to business strategy, or use a blend of the interrelationship of the HR strategy and the corporate strategy. -Aligning HR strategy with the corporate strategy and with other functional strategies is important. What is strategic HRM? -Human Resources Management (HRM) is an umbrella term that encompasses: • Specific HR practices (recruitment, selection, appraisal) • Formal HR policies • Overarching HR philosophies (values that inform the organization’s policies and practices) -Strategic HRM: interrelated practices, policies, and philosophies that facilitate the attainment of organizational strategy The importance of strategic HR planning: 2 main reasons strategic planning is so important: 1) employees help an organization achieve success because they are its strategic resources 2) the planning process itself results in improved goal attainment Employees as strategic resources: -HR can deteriorate if skills and knowledge become obsolete -Investment in employees’ skills increases the value of the organization’s human capital -The “value” of this human capital must be captured within the strategic HR plan -Human assets  competitive advantage: • Managing HR strategically = more likely to survive/profit • Human assets must be managed and matched to the organizational strategy Improved goal attainment: -Strategy formulation is important to attaining organizational goals -Aligns all HR functional strategies with overall strategy -Focuses employees on important missions and goals of the organization -Developing HR practices that support the stra
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