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Department
Commerce
Course
COMMERCE 2BC3
Professor
F O U Z I A
Semester
Winter

Description
Commerce 2BC3 Chapter 1: Changing Nature of Human Resources Management Nature of Human Resources Management - The policies, practices and systems that influence an employee’s behaviour, attitude, and performance in the attainment of organizational goals - Activities continue to change and evolve HR Activities - 7 interlinked activities 1) Global Forces and HR Management - Becoming transnational 2) Strategic HR Management - Process of linking the HR function with the strategic objectives of the organization in order to improve performance - To anticipate and respond to the HR changes from organizations strategic HR management has grown in importance - HR effectiveness must be increasing through the use of HR metrics HR Metrics: Specific measures tied to HR performance indicators - HR technology is important and many organizations have HR management systems, which use information technology to provide managers and employees with more accurate and timely information on HR programs and activities - In HR planning, managers attempt to anticipate forces that will influence the future supply of and demand for employees  Issue: retention of employees 3) Equal Employment Opportunity - Compliance with providing equal employment opportunities and its relevant laws and regulations affects all other HR activities and is integral to HR management - The diversity of a multicultural and global workforce is creating more challenges for HR professionals and all managers. - Strategic HR plans must ensure sufficient availability of employees who represent the designated groups (women, visible minorities, Aboriginal peoples, persons with disabilities) as determined by Employment Equity legislation 4) Staffing - To provide adequate supply of qualified individuals to fill jobs in an organization - Studying what workers do, job analysis lays the foundation for the staffing function - Job descriptions and job specifications can be prepared to use when recruiting applicants for job openings - Selection process is concerned with choosing qualified individuals to fill jobs in the organization 5) Talent Management and Development - In organizations of all sizes and industries - Orientation of new employees, talent management and development includes different types of training - HR development of all employees is necessary to prepare organizations for future challenges - Career planning identifies paths and activities for individual employees as they develop and move within the organization - Assessing how employees perform their jobs is the focus of performance management 6) Total Rewards - Compensation is the form of pay, incentives, and benefits, rewards people for performing organizational work - To be competitive employers must develop and refine their basic compensation systems - The use of variable pay programs such as gain sharing and productivity rewards is growing - Rewards can be an issue 7) Health, Safety, and Security - Ensuring the physical and mental health and safety of employees is vital - The Canadian Occupational Health and Safety Regulations have made organizations more responsive to concerns for safety through a focus on reducing work-related illnesses, accidents, injuries, bullying, and workplace violence - HR management can use employee assistance programs (EAPs) to help employees with substance abuse and other problems and thereby retain satisfactory employees - Health promotion programs that encourage healthy employee lifestyles are becoming more widespread - Workplace security has grown in importance 8) Employee and Labour Relations - If you want to prosper together, the relationship must be handled effectively - Employee rights must be addressed - It is important to develop, communicate, and update HR policies and procedures so that managers and employees alike know what is expected - Union/management relations must be addressed in some organizations HR Organizations Smaller Organizations and HR Management - The numbers of small businesses continue to grow - Fewer than 100 employees - Greatest concerns: 1) Shortage of qualified workers 2) Increasing costs such as energy and benefits 3) Legislative changes that do not necessarily consider the special needs of small business 4) Increased wage procedures 5) Increasing competition - HR issues are often significant Cooperation of HR with Operating Managers - Is necessary for HR efforts to succeed - HR professionals and staff members design processes and systems that the operating managers must help implement Management of Human Capital in Organizations - Organizations must manage 4 types of assets: 1) Physical: Buildings, land, furniture, computers, vehicles, equipment, etc. 2) Financial: Cash, financial resources, stocks, financial securities, etc. 3) Intangible: Specialized research capabilities, patents, information systems, and designs, operating expenses, etc. 4) Human: Individuals with talents, capabilities, experience, professional expertise, relationships, etc. Human Capital and HR Human Capital: The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce  Intellectual property to reflect thinking, knowledge, creativity, and decision making that people in organizations contribute - All organizational contributions indicate the value of human capital Measuring the Value of Human Capital - Sheer costs - Recognizing the strategic value of their human assets - An increasing needs to measure how the value of their human capital is changing Human Resources as a Core Competency - The development and implementation of specific organizational strategies must be based on the areas of strength in an organization Core competencies: A unique capability that crates high value and differentiates an organization from its competition - Key determinant of a competitive advantage - HR practices create a competitive advantage - Organizations make HR a core competency by attracting and retaining employees with unique professional and technical capabilities, investing in the training and development of those employees, compensating them in ways that retain them and keep them competitive with their counterparts in other organizations HR Management Challenges - The globalization of business in such areas as international outsourcing and global competitive pressures - Significant changes in economic forces and the rapid growth in technology have change how people work - Changing demographics in the workforce  Increase in diversity and aging of the workforce - Put more cost pressures on organizations - Consequently, many employers have reduced the number of jobs and employees as part of organizational restructuring Globalization of Business - Proceeded at a rapid pace - Shifted from trade and investment to the integration of global operations, management, strategic alliances, etc. Outsourcing - Business strategy that companies implement to focus on core functions in order to reduce costs - Involves 2 major concepts: IT outsourcing and/or business process outsourcing Offshoring: Moving work that would typically have been done domestically to another country Performed by your company: captive offshoring Performed by a third party: offshore outsourcing - To save on labour costs Employee Retention - Imperative those organizations try to maintain their employment levels in order to remain competitive - Employees will need to become more vigilant in understanding why their employees are leaving and try to address organization shortcomings in order to keep these employees Growth in Contingent Workforce Contingent workers: temporary, independent contractors, leased employees, and part-timers - The use has grown due to: 1) Workers are paid less and/or receive fewer benefits than regular employees 2) Saves money 3) May reduce legal liability Technological Shifts and the Internet - Internet as the primary driver - Created change in organizations and jobs - Must always be available  Cellphones/Smartph
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