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Chapter 1

HRM200 Chapter Notes - Chapter 1: Balanced Scorecard, Secondary Sector Of The Economy, Organizational Communication


Department
Human Resources Management
Course Code
HRM200
Professor
Katrina Di Gravio
Chapter
1

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CHAPTER ONE
Introduction to HRM
-Human Resources Management (HRM):
managing people in organizations to produce the workforce
competencies and behaviors required to achieve the
operation’s strategic goals
managing human capital: knowledge, education, training,
skills, expertise
Diversity is very important
Measuring the Value of HRM
-Effective HR practices are related to better organizational
performance
-Balanced scorecard measurement system translates organizational
strategy into a comprehensive set of performance measures
-Human Capital Index based on

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recruiting excellence
clear rewards and accountability
collegial and flexible workplaces
communications integrity
prudent use of resources
HRM Responsibilities: Operational/Administrative
analyzing jobs
planning future workforce requirements
selecting employees
orienting and training employees
managing compensation and reward plans
commonly outsourced (i.e. payroll services, recruitment,
training)
serving as administrative experts and employee champions;
in-house consultants to line managers
managing human capital lifecycle
consulting and offering advice
formulating policies and procedures
providing services i.e. analyzing jobs, planning future
workforce requirements, selecting employees, orienting and
training employees, managing compensation and reward
plans
ensuring fair treatment, appraising performance, ensuring
employee health and safety, managing labor relations an
relationships with unions, handling complaints, and ensuring
compliance with legislation
HRM Responsibilities: Strategic
serving as strategic partners and change agents
strategy: company’s plan for how it will balance its internal
strengths and weaknesses with external opportunities and
threats in order to maintain a competitive advantage
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Increasingly, the HR department is being viewed as an equal
partner in strategic planning process
HR specialists are expected to be change agents
strategy formulation: environmental scanning identifying
and analyzing external opportunities and threats that may be
crucial to the organization’s success
strategy execution: leading change, customer service,
lowering labor costs, building employee engagement
(emotional and intellectual involvement of employees in their
work)
engaged employees go beyond what is required, share values
of organization
Internal Environmental Influences
Organizational Culture
o core values, beliefs and assumptions shared by
members of an organization
o often conveyed through an organization’s mission
statement
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