BU354 Chapter Notes - Chapter 1: Human Resource Management, Videotelephony, Professional Association
Document Summary
Ch 1: the strategic role of hrm (human resources management) Learning outcomes: describe the stages in the evolution of hrm. The strategic and coherent approach to the management of an organization"s most valued assets people: management of people in organizations to drive successful organizational performance and achievement of organization"s strategic goals. Includes set of inter-related policies, practices, and programs, whose goal is to attract, socialize, motivate, maintain, and retain an organization"s employees. Human capital: the knowledge, education, training, skills, and expertise of an organization"s workforce. Evidence-based hrm: using best available evidence in making decisions about hr practices, actual measurements, existing data, research studies, measuring the value of hr: metrics. Traditional measures focused on activity and cost for example: number of candidates interviewed - cost per hire. Today"s measures focus on productivity, quality, sales, market share, and profits: balanced scorecard: measurement system that translates organization"s strategy into a comprehensive set of financial and operational performance measures.
