MANA 3320 1st Edition Lecture 2 Outline of Last Lecture I General Terms for Human Resource Management II Major Laws to know for HRM III 7 Challenges of HRM Outline of Current Lecture I 7 Challenges of HRM Continued Current Lecture 7 challenges of human resource management Continued o 3 Setting and achieving corporate social responsibility and sustainability goals o The responsibility of the firm to act in the best interests of the people and communities affected by its activities Sustainability is closely related to corporate social responsibility Sustainability refers to a company s ability to produce a good or service without damaging the environment or depleting a resource 4 Advancing HRM with Technology o Corporate social responsibility CSR Benefits Automation of routine tasks lower administrative costs increased productivity and response times Self service access to information and training for managers and employees Online recruiting screening and pretesting of applicants Training tracking and selecting employees based on their record of skills and abilities Organization wide alignment of cascading goals 5 Containing costs while retaining top talent and maximizing productivity Organizations take many approaches to lowering labor related costs including 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 o Carefully managing employees benefit Downsizing Furloughing employees Outsourcing Offshoring Employee leasing Capital expenditures tend to be fixed costs buildings land equipment Labor expenditures tend to be cut wages benefits 6 Responding to the demographic and diversity challenges of the workforce Demographic changes More diverse workforce o Aging workforce More educated workforce o o Necessity of basic skills training Managing diversity Ethnic and cultural challenges Being aware of characteristics common to employees while also managing employees as individuals Race age and sex are main ones 7 Adapting to educational and cultural shifts affecting the workforce Other factors Cultural and societal changes affecting the workforce Employee rights Privacy concerns of employees Changing attitudes toward work Balancing work and family
View Full Document