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Chapter 1

MHR 523 Chapter Notes - Chapter 1: Performance Appraisal, Unemployment Benefits, Human Capital


Department
Human Resources
Course Code
MHR 523
Professor
Mike Halinski
Chapter
1

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HRM is the management of people in organizations!
HRM professionals must attract, retain, and engage the diverse talent required to meet
operational and performance commitments made to customers and shareholders!
HRM involves formulating and implementing HRM systems!
Recruitment, performance appraisal, and compensation!
The HR strategy must be aligned with the company’s strategic plan!
Examples: Expanding geographically, cutting costs, diversifying!
Organizations need valuable human capital just as much as they need financial capital to give
them a competitive advantage!
HR practices are related to better organizational performance!
HR practices have strong relationships with important accounting measures of performance!
Profit sharing!
Results-oriented performance appraisal!
Employment security!
High performance HR practices result in a positive relationship with turnover, productivity, and
corporate financial performance!
History of HRM!
Phase 1!
Early 1900’s, HRM played a minor role!
Responsible for hiring and firing, running payroll, and administered benefits!
Phase 2!
1930’s to 1950’s!
After the depression legislation was enacted!
Minimum wage act!
Unemployment insurance program!
Protection of worker’s right to belong to unions!
Phase 3!
1960’s to 1980’s!
Enacted more legislation!
Human rights!
Wages and benefits!
Working conditions!
Health and safety!
Penalties for failure to meet any of the above!
Outsourcing!
Contracted work outside of vendors to handle specified business functions on a
permanent basis!
Phase 4!
1990’s to Present!
HR departments evolved into helping their organization achieve it strategic objectives!
HR activities became ubiquitous!
HR departments were not the only people that possessed HR skills!
Line Managers as well!
Human-capital life cycle!
CEO’s!
Direct Human Resources activities, including the approval of human resource plans, the
selection of directors or other high-level sta, or establishment or organization of
departments!
Information Technology Project Managers!
Develop or update project plans for information technology projects!
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