Textbook Notes (368,070)
Canada (161,617)
Commerce (1,690)
Chapter 1

CHAPTER 1 Human Resource Management.docx

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Frances L Tuer

CHAPTER 1 Human Resource Management: Gaining a Competitive Advantage Competitiveness - A company's ability to maintain and gain market share in its industry  The value of a product or service is determined by the quality and how closely the product fits customer needs Stakeholders - Groups affected by business practices  Include: stockholders, customers, and employees Human Resource Management [people practices] - Policies, practices, and systems that influence employee's behaviour, attitudes, and performance.  HRM Practices include: - Analysis and design of work - HR planning - Recruiting - Selection - Training and development - Compensation--> rewarding employees - Performance management - Employee relations  Effective HRM practices enhance performance by contributing to employee and customer satisfaction, innovation, productivity, and development of favourable reputation in the firm's community. Responsibilities of HR Departments - Training and development - Employee and community relations - Compensation - Personnel records - Benefits - Health and safety - Employee services - Strategic planning What Competencies Do HR Professionals Need? 1) Credible Activist - Delivers results with integrity - Shares Information - Builds trusting relationships - Influences others, provides candid observation, takes appropriate risks 2) Cultural Steward 3) Talent Manager 4) Strategic Architect - Facilitates change - Develop talent - Recognizes business trends - Develops and values culture - Design Reward System - Provides evidence-based HR - Helps employees navigate the culture - Shape organization - Develop people/business strategy 5) Business Ally 6) Operational Executor - Understand how business works - Implements workplace policies - Understands language of business - Advances HR technology - Administers work of managing people Evidence-based HR - Demonstrating that human resource practices have a positive influence on the company's bottom line. Helps show that investment in HR contributes to company goals and objectives Competitive Challenges Influencing Human Resource Management The Sustainability Challenge Sustainability - The ability of a company to survive and exceed in a dynamic environment based on approach to organizational decision making. Considers a company`s ability to make a profit without sacrificing the resources of its employees, community, environment - Sustainable company success depends on how well the company meets the needs of its stakeholders Competitive Challenges Influencing Canadian Companies Employment and Occupational Growth Projections and Skill Requirements - Competition for labour is affected by growth and decline of industries, jobs, occupations, and number of skilled workers available. - Growing area of concern for the future is whether employees will be able to access the right workers with the right skill set. By 2020, key skills will include:  mix of creative problem solving skills, business skills, ability to interact  higher degree of technical/technological expertise
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