Chapter 1.docx - Chapter 1 The Role of Human Resources I II Human Resource Management Day to Day(1.1 a Human Resource Management(HRM strategic process

Chapter 1.docx - Chapter 1 The Role of Human Resources I II...

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Chapter 1: The Role of Human Resources I. Human Resource Management Day to Day (1.1) a. Human Resource Management (HRM) – strategic process that deals with the following: i. Staffing ii. Compensation iii. Retention iv. Training v. Employment Law & Policies b. Ex: i. Administrative Role 1. Writing policy and procedures to hire people ii. Overall goal of HR personnel: 1. Involves utilizing strategic plans to ensure the right people are hired/trained for the right job at the right time. a. i.e. recruiting, ensuring employees follow the law, how do you motivate/communicate with employees, etc. c. Primary focus of HRM: Human Capital – skills and knowledge of employees i. Goal: To find, train, and develop people to be successful within the workforce II. What is Human Resources and Human Capital (1.2) a. Learning Obj. i. Explain the concept of Human Capital. ii. Explain the role of HRM in organizations. iii. Define and discuss some of the major HRM activities. b. Capital – includes cash, valuables, or goods used to generate income for a business i. No matter the industry, all companies have one thing in common: human capital c. Human Capital – The skills and abilities of employees that usually make a business successful i. By utilizing employee’s skills and abilities, revenue can be generated. d. What is HRM? i. Human resource management (HRM) – the process of employing people, training them, compensating them, developing policies relating to them, and developing strategies to retain them. ii. HRM formerly focused on an administrative role (See: I.b.i.) 1. Now focuses on strategic role iii. HRM can be divided into four main stages: 1. Industrial era a. HRM was focused primarily on labor unions and contracts; to resolve issues between the union and management 2. Post FLSA (Fair Labor Standards Act) era a. FLSA occurred around 1938 i. Mandated minimum wages, health/safety guidelines and laws ii. HR changed during this time; focused on complying with the new health, safety, and minimum wage laws 3. Twenty-first century era a. HR duties focused on building human capital, in addition to previous duties i. Can assist in the alignment of company goals ii. Substantial change in HR; signified HR had become more strategic in nature 4. Information age era (current state) a. Elements of previous three stages are still true, however, this era brought new technology and globalization i. Such changed business processes ii. Allowed HR to utilize technology e. The 7 Major Roles of HRM
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i. Staffing – the entire hiring process from posting a job to negotiating a salary package 1. Four main steps within the staffing function: a. Development of a staffing plan b. Development of policies to encourage diversity at work; Multiculturalism c. Recruitment. d. Selection. ii. Development of Workplace Policies 1. HRM professionals will recognize the need for a policy or a change of policy, seek opinions on the policy, write the policy, and then communicate that policy to employees.
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