BUS3 150 Lecture 1: Ch. 1 Notes
Document Summary
Importance of hrm bc competitors can always copy your comp. "s plans and products but they can"t copy your employees. That"s why it"s important to to treat employees right and to encourage them to want to keep working for you. success depends on an organization"s ability to maintain its human capital employee"s knowledge, skills, abilities, etc. Unlike physical capital and resources, human capital is intangible and cannot be managed the way organizations manage jobs, products, and technologies. One reason why this is so is that employees, not the organization, own their own human capital. If valued employees leave a company, they take their human capital with them, and any investment the company has made in training and developing these people is lost. To build human capital in organizations, managers must continue to develop superior knowledge, skills, and experience within their workforces and retain and promote top performers.
