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Chapter 1: The Role of Human ResourcesI.Human Resource Management Day to Day (1.1)a.Human Resource Management (HRM) – strategic process that deals with the following:i.Staffingii.Compensationiii.Retentioniv.Trainingv.Employment Law & Policiesb.Ex:i.Administrative Role1.Writing policy and procedures to hire peopleii.Overall goal of HR personnel: 1.Involves utilizing strategic plansto 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 employeesi.Goal: To find, train, and develop people to be successful within the workforceII.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 capitalc.Human Capital– The skills and abilities of employees that usually make a business successfuli.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 roleiii.HRM can be divided into four main stages:1.Industrial eraa.HRM was focused primarily on labor unions and contracts; to resolve issues between the union and management2.Post FLSA (Fair Labor Standards Act) eraa.FLSA occurred around 1938i.Mandated minimum wages, health/safety guidelines and lawsii.HR changed during this time; focused on complying with the new health, safety, and minimum wage laws3.Twenty-first century eraa.HR duties focused on building human capital, in addition to previous dutiesi.Can assist in the alignment of company goalsii.Substantial change in HR; signified HR had become more strategic in nature4.Information age era (current state)a.Elements of previous three stages are still true, however, this erabrought new technology and globalizationi.Such changed business processesii.Allowed HR to utilize technologye.The 7 Major Roles of HRM
i.Staffing– the entire hiring process from posting a job to negotiating a salary package1.Four main steps within the staffing function:a.Development of a staffing planb.Development of policies to encourage diversity at work; Multiculturalismc.Recruitment.d.Selection.ii.Development of Workplace Policies1.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.