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HRM 2600 Chapter Notes - Chapter whole semester : Human Resource Management, Business Process, Human Capital

Human Resources Management
Course Code
HRM 2600
Michael Mc Garry
whole semester

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Chapter 1 The World of Human Resources Management
- Human resources management (HRM): The process of managing human talent to
achieve an organization’s objectives.
- Involves a wide variety of activities, including analyzing a company’s competitive
environment and designing jobs so that a firm’s strategy can be successfully
implemented to beat the competition.
Title1: Why study human resources management?
- All managers are responsible for at least some of the activities that fall into the
category of HRM.
- Managers play a key role in selecting, training, motivating.
1. Human capital and HRM
- Definition: Describes the economic value of employee’s knowledge, skills, and
- Intangible, cannot be managed the way organizations manage jobs, products, and
- 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.
- 65% of responding companies believe that their HR groups play a key role in
developing human capital.
Title 2: Competitive issues and human resources management
Issue 1: Responding strategically to changes in the local and global marketplace
1) HR managers and business strategy
- Six Sigma: A set of principles and practices whose are ideas include understanding
customer needs, doing things right and striving for continuous improvement.
- For rethinking and radical redesign of business process: Reengineering.
Downsizing: Planned elimination the jobs.
Outsourcing: Hiring someone outside the company to perform business
- Change management: A systematic way of bring about and managing both
organizational changes and changes on the individual level.
- Reactive change: Changes that occur after external forces have already affected
- Proactive change: Change initiated to take advantage of targeted opportunities.
2) Competing, Recruiting, and staffing globally
- Globalization: The trend to opening up foreign markets to international trade and
E.G.: Coca-cola
Impacts: Lower trades & Improve in people’s living standards.
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Issue 2: Setting and achieving corporate social responsibility and sustainability
- Corporate social responsibility: The responsibility of the firm to act in the best
interests of the people and communities affected by its activities. (CSR)
Issue 3: Advancing HRM with technology
- Collaborative software: Software that allows workers to interface and share
information with one another electronically.
- E.G.: Wikis, Google Docs, electronic calendar systems
1) From touch labor to knowledge workers
- Knowledge workers: Workers whose responsibilities extend beyond the physical
execution of work to include planning, decision making, and problem solving.
- Transfer touch labor to knowledge workers:
Reduce the number of jobs that require little skill
Increase the number of jobs that require considerable skill.
Impacts of technology on HRM:
- Human resources information system (HRIS): A computerized system that provides
current and accurate data for purposes of control and decision making.
Impacts on the following sides:
- (1) Operational: Automating routine activities, alleviating administrative burdens,
reducing costs, improving productivity internal to the HR function.
- (2) Relational in nature: Connecting people with each other and with HR data they
- (3) Transformational in nature: Changing the way HR processes are designed and
Issue 4: Containing costs while retaining top talent and maximizing productivity
1) Downsizing
2) Furloughing: A situation in which and organization asks or requires employees to
take time off for either no pay or reduced pay.
3) Outsourcing
4) Offshoring: The business practice of sending jobs to other countries.
5) Nearshoring: The process of moving jobs closer to one’s home country.
6) Employee leasing: The process of dismissing employees who are then hired by a
leasing company.
7) Productivity Enhancements.
Issue 5: Responding to the demographic and diversity challenges of the workforce
- Demographic changes
- The diversity/Immigration challenge
- Age distribution of employee
- Gender distribution of the workforce
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Issue 6: Adapting to educational and culture shifts affecting the workforce
1) Education of the workforce
2) Cultural changes
3) Employee rights
4) Concern for privacy
5) The changing nature of the job
6) Changing attitudes toward work
7) Balancing work and family
Title 3: The Partnership of line managers and human resources management
- Line manager: Non-HR managers who are responsible for overseeing the work of
other employees.
- Responsibilities of the HR managers:
1) Advice and counsel
2) Service
3) Policy formulation and implementation
4) Employee advocacy
- Competencies of the HR manager:
1) Business mastery
Business acumen
Customer orientation
External relations
2) HR mastery
Performance appraisal
Rewards system
Organization design
3) Personal credibility
Personal relationships
Lived values
4) Change mastery
Interpersonal skills and influence
Problem-solving skills
Rewards system
Innovativeness and creativity
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