HB 307 Lecture 1 Why Human Resources Human Resources Management HRM Process of managing human talent to achieve an organizations objectives Staffing organization designing jobs and teams developing skillful employees improving performance ext are all HRM issues Business plans products and services can all be copied while great personnel cannot Human Capital and HRM Human Capital Knowledge Skills and Capabilities of individuals that have economic value to an organization Intangible and cannot be managed in same way as jobs products technology Human Capital HRM and HB HB s uniqueness Labor Intensive Guest Customer Contact Intensive Competitive Challenges and HR Management Top Challenges Responding to Marketplace Setting Goals and Achieving social responsibility Advancing HRM with technology Responding to Demographic and Diversity Challenges Challenge 1 Responding to Changes in Marketplace Human Resources Managers and Business Strategy HRM managers must understand firms business operations strategies Total Quality Management TQM Principles and practices whose core ideas include customer needs doing things right constant improvement Six Sigma Translates customer needs into set of tasks that are performed in concert with one another Reengineering and HRM Fundamental rethinking and radical redesign of business to achieve improvement in cost quality service and speed Downsizing Elimination of jobs These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Outsourcing Contacting outside org to have work done Offshoring Sending jobs to other countries Change efforts fail due to o Not establishing urgency o Lacking Leaders o Not removing obstacles o Lack of planning Challenge 2 Competing Recruiting and Staffing Globally Globalization 70 85 of U S economy affected by international competition Impact partnerships with foreign firms lower trade barriers Challenge 3 Social Responsibility and Sustainability Corporate Social Responsibility CSR Responsibility of firm to act in best interests of people environment Challenge 4 Advancing HRM with Technology Technology has changed corporate culture Human Resources Information System HRIS System that provides current and accurate data for purposes of control and decision making Benefits Automation Access to Information Online Recruiting Challenge 5 Containing Costs While Maximizing Productivity Top approaches include Managing employee benefits downsizing outsourcing offshoring employee leasing Hidden Costs of Layoffs Severance Pension Lawsuits Loss of Trust Lack of Staff Benefits of No Layoff Policy More Loyal productive workforce higher customer satisfaction workers who aren t afraid to innovate Employee Leasing Dismissing Employees who are then hired by a leasing company and contracting with that company Challenge 6 Demographic and Diversity Challenges Demographic Changes More diverse educated workforce Managing Diversity Being aware of characteristics common to employees treating people as individuals Challenge 7 Adapting to Educational and Cultural Shifts Educational attainment of U S labor force has dramatically changed College degree shown to be worth it Other factors Changing Attitudes towards work Balancing work and family culturing and societal changes employee rights and privacy Partnership of Line Managers and HR departments Successful managers combine experience of line managers with expertise of HR to develop and utilize talents of employees to greatest potential Responsibilities of HRM o 1 Strategic Advise and Counsel o Service o Policy formation and implementation o Employee advocacy Competencies of HRM Require o Business Mastery o HR mastery o Personal Creditability