Chapter 10- Managing HR resources.docx

Chapter 10- Managing HR resources.docx - Chapter 10...

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Chapter 10: Managing HR resources LO. 1: The Human resource management process Why is HRM important? First, it can be a significant source of competitive advantage. People-oriented HR gives an organization an edge by creating superior shareholder value. Second, It’s an important part of company’s strategy. Managers must work with people and treat them as partners, not just as costs to be minimized or avoided. Thirdly, the way organizations treat their people has been found to significantly affect organizational performance. Work practices that lead to both high individual and high organizational performance are known as high-performance work practices. These tasks include a commitment to improve knowledge, skills and abilities of an organization’s employees, increasing motivation, reducing loafing on the job and enhancing retention of quality employees. NOT all HRM practices involve high-performance work practices; however, all practices must evolve around the HRM 8 steps process (in bold): Human resource planning, recruitment/decruitment, selection, identify and select competent employees , orientation, training, provide employees with up-to-date skills and knowledge , performance management, compensation and benefits, career development, retain competent and high performance employees. External Factors that affect the HRM process Employee labor unions: A labor union is an organization that represents workers and seeks to protect their interest through collective bargaining. In unionized org., many HRM decisions are dictated by collective bargaining agreements, such as promotions, training, criteria for hiring etc. Government laws: An org.’s HRM practices are affected by country laws. For example, decisions regarding who will be hired, which employees will be chosen for a training program or what compensation forms must be employed without regard to race, sex, religion, age or color. However, this is hard to put into practice. Although laws help reduce employment discrimination and unfair work practices, they also reduce managers’ discretion over HRM decisions. Demographic trends: They impact HRM practices (having more old people like Germany small young workforce etc.) 1
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LO. 2: Identifying and selecting competent employees The first phase of the HRM process involves three tasks: human resource planning, recruitment/decruitment and selection. Human resource planning Process by which managers ensure that they have the right number and kinds of capable people in he right places at the right times. Through planning, organizations avoid sudden people shortages and surpluses. It involves 2 steps: Assessing current human resources and Meeting future HR needs Current assessment: Managers begin the HR planning by taking inventory of the current employees. It includes information on employees such as name, education, training prior employment, languages spoken, special capabilities and skills.
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