HR_Chapter 1.doc

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University of Waterloo
Human Resources Management
HRM 200
Katrina Di Gravio

Chapter 1 The Strategic Role of Human Resources ManagementIntroduction to HRMHuman Resources Management HRMManaging people in organizations to produce the workforce competencies and behaviours required to achieve the operations strategic goalsManaging human capital knowledge education training skills expertiseResponsible for ensuring the organization attracts retains and engages the diverse talent required to meet operational and performance commitments made to customers and shareholders It involves formulating and implementing HRM systems that are aligned with the organizations strategy in order to produce a workforce with the competencies and behaviours that are required to achieve the organizations strategic objective sEvidence of strong relationship between recruiting efficiency and organizational performanceoCompanies that fill vacancies faster reduce the disruption and lost productivity associated with turnover HRM problem currently in Canada is that three out of every ten senior executive positions have no identified potential successors Measuring the Value of HRMEffective HR practices are related to better organizational performanceMeasures need to reflect the quality of people and the effectiveness of HRM initiatives that build workforce capability oThey also provide critical information that can be linked to organizational outcome Bottom line is that effective human capital practices drive business outcomes more than business outcomes lead to good HR practices Balanced scorecard measurement system translates organizational strategy into a comprehensive set of performance measuresthis scorecard shows turnovers and successes among the employees Balances longterm and shortterm actions and balances measure of success relating to financial results customers internal business processes and human capital management Human Capital Index based onRecruiting excellenceClear rewards and accountabilityCollegial and flexible workplacesCommunications integrityPrudent use of resources HRM Responsibilities OperationalAdministrativeObjective HR professionals hire and maintain employees and then manage employee separation responsibilities may be outsourcedoOutsourcing involves contracting with outside vendors to handle specified business functions on a permanent basis serving as administrative experts and employee champions
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