Week 1: Learning Objectives1.Define the purposes and scope of human resourcemanagement (HRM) in Australia.2.Trace the development of HRM, including its influences, issuesand theories.3.Explore the notion of the psychological contract.4.Describe main HRM models covered in the field of HRM.5.Define the professional and ethical principles which guideHRM.
INTRODUCTION•All organisations rely on the availability andeffectiveness of three kinds of resources: finances,technology and people.•The human resource (HR) is almost always the keyingredient for organisational success.•HR is the most unpredictable and often the largestongoing cost factor, and may also be regarded as themost valuable asset in any organisation.
HRM Definitions•‘HRM involves the productive use of people in achieving the organisation’sstrategic objectives and the satisfaction of individual employee needs’(Stone 2014, p. 4).•‘HRM is a strategic approach to managing employee relations whichemphasizes that leveraging people’s capabilities and commitment is criticalto achieving sustainable competitive advantage or superior public services.This is accomplished through a distinctive set of integrated employmentpolicies, programmes and practices, embedded in an organizational andsocietal context’ (Bratton & Gold 2012, p. 7).
HRM Definitions•HRM ‘refers tothe policies, practices and systems that influenceemployees’behaviour,attitudesandperformance.Manycompanies refer to HRM as ‘people management’. To achieveeffectiveoutcomesintermsofindividualandultimatelyorganisational performance, these practices need to be linked withthe organisational goals, or organisational strategy’ (Kramar et al2014, p. 6).
HRM Definitions•Humanresourcemanagementisadistinctiveapproachtoemployment management which seeks to achieve competitiveadvantage through the strategic deployment of a highly committedand capable workforce using an array of cultural, structural andpersonnel techniques (Storey 2007, p. 7).
HRM Definitions•‘Our conception of HRM covers the policies and practices used to organisework and to employ people. In other words, HRM encompasses themanagement of workand the management of peopleto do the work’ (Boxall &Purcell 2008, p. 3).