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Chapter 1

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BUSI 2312U

Introduction to Human Resources Chapter 1: The Strategic Role of Human Resources Management Human Resources Management (HRM) → management of people in organizations to drive successful organizational performance and achievement of the organization’s strategic goals - Ensure that the organization finds and gives the best individual available, develop their talent, creates a productive work environment, and continually builds and monitor their human assets - Primary responsibility for managing the workforce that drives organizational performance and achievement of the organization’s strategic goals o Human capital → the knowledge, education, training, skills and expertise of an organization’s workforce Responsibilities - Operational Responsibilities o Human capital life cycle → selection and assimilation into the organization, develop of capabilities while working in the organization, and transition out of the organization o Analyzing jobs, planning future workforce requirements, selecting employees, orienting and training employees, managing compensation and reward plans, and communicating with employees o Ensuring fair treatment, appraising performance, ensuring employee health and safety, managing labour relations and relationships with unions, handling complaints and grievances, and ensuring compliance with legislation affecting the workplace - Outsourcing → the practice of contracting with outside vendors to handle specific functions on a permanent basis o Services associated → pension and benefits administration, recruitment, management development, and training Strategic Responsibility - Strategy → the 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 - Environmental scanning→ identify and analyzing external opportunities and threats that may be crucial to the organization’s success - Metrics → statistics used to measure activities and results - Balance scorecard →
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