Chapter 2 Fundamentals of Strategic HRM 1. HRM Importancea. Mamangement- the process of completing activities with and through peopleb. Planning- a management function focusing on setting organizational goals and objectivesc. Organizing- a management function that deals with determining what jobs are to be done by whom where decisions are to be made and how to group employees. d. Leading- mangeement function concerned with directing the work of others.e. Controlling- management function concerned with monitoring activities to ensure goals are met. f. Strategic Naturei. Asssisitng the organization in its strategic direction ii. Representing and advocating for the organizations employeesg. Strategic Approachesi. Cost Differentation- providing great value and low costii. Product Differentation- deliver products/services that is similar to competitors but incorporates a feature that differentate itiii. Customer Intimacy- strong personal relationship between provider product/service and the customeriv. Customer/Market Focus- unique target market characteristicsh. Strategic Human Resource Mangement- Aligning HR Policies and decisions with the organizational strategy and mission. 2. HRM Functions a. Staffing- activities in HRM concerned with seeking and hiring qualified employeesi. Strategic Human Resource Planning ii. Recruiting iii. Selectionb. Traning and Development- activities in HRM Concerned with assisting employees to develop up-to date skills, knowledge and abilitiesi. Orientationii. Employee Training iii. Employee Development iv. Career Developmentc. Motivational Functions- activities in HRM concerned with helping employees exert at high energy levelsi. Motivation Theorys and job designii. Performance Appraisalsiii. Rewards and Compensationiv. Employee Benefitsd. Maintance Function- Activities in HRM concerned with maintaining employees commitment and loyalty to the organizationi. Safety and Healthii. Communications iii. Employee Relations3. External Environments Affect HRa. HR Environemtn is always changing b. Laws and Regulationsc. Labor Unions- act on behalf if its members to secure wages, hours, and othe terns abd conditions of employment.i. Scientific Mangement- a set of principles desgined to enhance worker productivity4. Structuring the HR Environemnta. Employmenti. Promoting staffing activitiesii. Recruiting new employees1. important to coordinate effort with management on hiring decisions b. Training and Developmenti. Help employees maximize their potentialii. Help employees adapt to changec. Compensation and benefits- HRM Function concerned with paying employees and administering the benefits packaged. Employee Relations- Activities in HRM concerned with effective communiiication among organizational membersi. Need Suppoort of CEOii. Effective Communicaitonsiii. Determing what to communicate iv. Allowing for Feedbackv. Information Sources5. HR Trends and Opportunitiesa. Outsorcing- contracting with a company to handle one or more HR Functionb. Profesional Employer Organizations(PEO)- assumes all HR Functions of a client company by hiring all of its employees and leasing them back to the companyi. Handle confusing government operationsii. Ability to attract stroneger canidatesc. Shared Services- sharing HRM activities among geographically dispersed divisions. d. HR Generalist- position responsible for all or a large number of HR Functions in an
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