ADMS 2600 Chapter Notes -Offshoring, Corporate Social Responsibility, Six Sigma

• School: York University
• Department: Administrative Studies
• Course: ADMS 2600
• Professor: Monica Belcourt

Document Summary

Human capital: human capital is the knowledge, skills, and capabilities of employees that add economic value to an organization. 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 have. Impact of hr: the impact of hr functions is dramatically positive; positive gains, more profitable, etc, 15% of relative profit derives from hr studies. Adms 2600: increased financial success, two main ways of affecting businesses, cost savings. Most expensive cost is labour, representing approx. 80% of running the businesses, meaning this needs to be controlled. Hiring an employee is estimated to be about 1 years" worth of salary: more productive employees. Doing things faster, better, or cheaper with the same number of employees. Responding strategically: hrm systems can help organizations can help provide products faster, better and cheaper using, six sigma.