MANA 3320 1st Edition Lecture 1 Outline of Current Lecture I General Terms for Human Resource Management II Major Laws to know for HRM III 7 Challenges of HRM Current Lecture CH 1 Human Resource Management General Terms for HRM o Generalist vs Specialist o o Specialists typically paid more and work in larger corporations Line job vs staff job Line jobs directly relate to why the company exists for products and services Staff jobs only exist for line jobs Working life Average life span with socially acceptable retirement age In US it s 40 years Major Laws to Know for HRM o o Employment at will doctrine Made in England in the 1400s Originally defined as companies can terminate employees for any reason for any time they wish and employees can leave a company for any reason for any time they wish Now defined as companies can terminate employees for any reason at any time they wish unless as expressly barred by law or by judicial case Only state that doesn t have this is Montana Right to Work Law 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 Written in federal law in the Taft Hartley act state s rights law Give each person the right to choose without any pressure from any person or organization to be a part of a union or not part of a union Only 20 states passed this law but now it s up to 24 Human resource management o The process of managing human talent to achieve an organization s objectives o Great business plans products and services can easily be copied by your competitors Great personnel cannot 7 challenges of human resource management o 1 Responding strategically to changes in marketplace Downsizing The planned elimination of jobs head count Layoffs Outsourcing Contracting outside the organization to have work done that formerly was done by internal employees don t come back into the company Subcontracting same thing as outsourcing but they have the possibility of coming back on the payroll also don t have to pay benefits Offshoring global sourcing o The business practice of sending jobs to other countries 2 Competing recruiting and staffing globally Globalization Approximately 70 to 85 of the US economy today is affected by international competition About 10 of what Americans produce every year dollar wise is sold abroad To be considered global the company has to either sell outside the US or manufacture outside the US for the first time Impact of globalization Anything anywhere anywhere markets Partnerships with foreign firms Lower trade and tariff barriers o NAFTA EU APEC trade agreements o WTO and GATT general agreements on tariffs and trade World Trade Organizations abide by the GATT
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