ADMS 2600 Chapter : Unit 1 - Challenge of HRM - Full, detailed notes!

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The process of managing human resources (human capital and intellectual assets) to achieve an organization"s objectives. Staffing the organization, designing jobs and teams, developing skillful employees, identifying approaches for improving their performance, and rewarding employee successes are as relevant to line managers as they are to the hr department. Competitive advantage through employees: employees have to be selected and motivated to be better. 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.

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