RSM100Y1 Chapter 8: Chapter 8 summary
10 Apr 2011
School
Department
Course
Professor
Document Summary
Human resource management (hrm) the set of organizational activities directed at attracting, developing, and maintaining an effective workforce. Hrm (or personnel) has increased in importance in the last two decades. This new importance stems from increased legal complexities, the recognition that human resources are a valuable means for improving productivity, and the awareness of the costs associated with poor hrm. Poor human resource planning can result in spurts of hiring followed by layoffs costly in terms of unemployment compensation payments, training expenses, and morale. The starting point in attracting qualified human resources is hr planning, which involves job analysis and forecasting the demand for and supply of labour. After managers have analyzed the jobs, they can start planning for the organization"s future. The manager starts by assessing trends in past hr usage, future organizational plans, and general economic trends. Historical data can be used to predict demand for different types of employees, such as sales representatives.
