BU354 Study Guide - Final Guide: Balanced Scorecard, Absenteeism, Human Capital
Document Summary
Hrm: the management of people in the organization. Human recourse professionals are responsible for ensuring that the organization attracts, retains, and engages the diverse talent required to meet operational and performance commitments made to stakeholders. It is important that the hr strategy is aligned with the company"s strategic plan. Human capital: the knowledge, education, training, skills, and expertise of an organization"s workforce. Brief history of hrm and major stages in hr evolution : Hr practices have been shaped by societal views on workers and their rights, which have evolved in three stages. Stage 1: scientific management: process of scientifically analyzing manufacturing processes, reducing production costs, and compensating employees base on their performance. Stage 2: the human resources movement: a management philosophy focusing on concern for people and productivity (4 phases) Phase 1: during early 1900s hrm"s role was very minor. Hrm"s role was ensuring that procedures were followed .
