Itdoesthisbyproviding6core functions

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Unformatted text preview: rs as Measures of Success • Stakeholder outcomes can be another way to measure organizational success. • Stakeholders are any people with an interest (or stake) in an organization’s success. • Stakeholder groups include: Employees; Unions; Government; General Public; Customers; Shareholders; Joint Venture Partners; Suppliers. • Meeting stakeholder expectations is a good measure of success – it means the organization is doing what it should be doing. The Service­Profit Chain The Service­Profit Chain This is the job of HR The Service Profit Chain shows the critical role HR plays in creating value for stakeholder groups such as employees, customers and shareholders The Service­Profit Chain The Service­Profit Chain Sears’ Value Chain Sears’ Value Chain Core Functional Responsibilities Core Functional Responsibilities of HR • We have seen that HR contributes to the success of an organization. It does this by providing 6 core functions. • The 6 core functions are the primary reason that organizations need HR departments. • The 6 core functions meet the needs of the organization; legal requirements and support expansion and change as the organization develops. Core Functional Responsibilities Core Functional Responsibilities of HR Function Description Strategic Management Integrating HR initiatives with the wider organization and aligning them with organizational plans and objectives Ensuring the right jobs exist with the right people at the right times; creating jobs and job tasks that are needed; finding and hiring people for the above. Measure performance; promote people; plan careers; train, skill and educate employees so the workforce is fully skilled Recognize; reward; incentivize; pay employees fairly. Develop C&B policies...
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