BU354 Chapter Final: HR Final Exam Chapter Notes - 1,2,4-8,10,12-17
Document Summary
Chapter 1 the strategic role of human resources management. Human capital - the knowledge, education, training, skills, and expertise of an organization"s workforce. 30 measures that are summarized down into these 5: recruiting excellence, clear rewards and accountability, collegial and flexible workplaces, communications integrity, prude use of resources (lowering costs) The hr function must account for the return on resources invested in human capital. Hr professionals should be able to measure the value and impact of their organization human capital and hrm practices. Traditionally it focused on the size and cost of the hr function (such as absenteeism rates, cost per hire etc. ) now it"s about the quality of people and effectiveness of hrm initiatives that build workforce capability. These new practices are related better to organizational performance. Balance scorecards a measurement system that translates an organization"s strategy into a comprehensive set of performance measures. Operational/adminstrative: hr professionals hire and maintain employees and the manage employee separation.