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Chapter 1

ADM 2337 Chapter Notes - Chapter 1: Culture Shock, Corporate Social Responsibility, Six Sigma


Department
Administration
Course Code
ADM 2337
Professor
Magda Donia
Chapter
1

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Chapter 1
The World of Human Resources Management
WHY STUDY HUMAN RESOURCES MANAGEMENT?
!Human Resources Management (HRM)
o!The process of managing human talent to achieve an
organization’s objectives
!All managers are responsible for at lease some of the activities that
fall into the category of HRM.
!Managers play a key role in selecting, training, motivating,
appraising, and promoting employees.
!It takes people to build a business.
Human Capital and HRM
!The idea that organizations compete through people highlights the
fact that achieving success increasingly depends on an
organization’s ability to manage talent or human capital.
o!Human capital – The knowledge, skills and capabilities of
individuals that have economic value to an organization.
!Human capital is intangible and cannot be managed the way
organizations manage jobs, products, and technologies because
employees own their own human capital.
!The real strategic advantage for organizations is high-quality HRM
systems.
!To build human capital in organizations managers must continue to
develop superior knowledge, skills and experience within their
workforces and retain and promote top performers.
!Although competing through people is a major theme of HRM, on a
day-to-day basis, mangers of all types have to carry out specific
activities for a company to effectively do so.
!Overall framework for HRM
o!Competitive Challenges
!!Changes in the market place and economy
!!Globalization
!!Technology
!!Cost containment
!!Leveraging employee differences

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o!Human Resources
!!Planning
!!Recruitment
!!Staffing
!!Job design
!!Training/development
!!Appraisal
!!Communications
!!Compensation
!!Benefits
!!Labour relations
o!Employee Concerns
!!Job security
!!Health care issues
!!Age and generational work issues
!!Retirement issues
!!Gender issues
!!Educational levels
!!Employee rights
!!Privacy issues
!!Work attitudes
!!Family concerns
COMPETITIVE CHALLENGES AND HUMAN RESOURCES MANAGEMENT
!Challenge 1: Responding Strategically to Changes in The
Marketplace
o!In today’s highly competitive environments, in which
competition is global and innovation is continuous, being able
to adapt has become the key to capturing opportunities and
overcoming obstacles, as well as the very survival of
organizations.
o!Successful companies develop a culture that keeps moving all
the time.
!HR Managers and Business Strategy
o!HR professionals can help executives improve not only a
company’s bottom line by streamlining employment costs, but
also the top line by forecasting labour trends, designing new
ways to acquire and utilize employees, measuring their
effectiveness, and helping managers enter new markets.
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