MANA 3320 Lecture 1 Outline of Current Lecture I Definition of HRM and how HRM contributes to an organization s performance II Difference between a human resource and a labor cost III Responsibilities of HR IV Role of supervisors V Ethical issues in HR management Current Lecture Human Resource Management the policies practices and systems that influence employees behaviors attitudes performance Who practices HR management HR Management team All Managers Labor Costs vs Human Resources Labor Cost The traditional viewpoint of employees as a labor cost and not a resource Employee expenses are labor cost to be minimized The you vs me mentality The lose win mentality 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 Human Resource The modern viewpoint in which employees are a valued asset to the company They add value to the company and are not disposable or easily replaceable they are rare cannot be imitated valuable and there are no good substitutes Employees provide precious human capital for firm success The we mentality The win win mentality Human Capital an organization s employees described in terms of their training experience judgment intelligence relationships insight Employees are valuable resources SAS Corporation SAS is the leader in business analytics software and services and the largest independent vendor in the business intelligence market SAS provides many benefits to its employees including health care recreational facilities child care and work life resources In 2012 SAS ranked No 1 on the elite World s Best Multinational Workplaces list from Great Place to Work CEO Jim Goodnight places profound value on his employees 95 percent of my assets drive out the gate every evening It s my job to maintain a work environment that keeps those people coming back every morning The creativity they bring to SAS is a competitive advantage for us Roles of Supervisors in HR Help define jobs Provide training Interview and select candidates Appraise performance Recommend pay increases and promotions Communicate policies Forecast HR needs Motivate with support from pay benefits and other rewards Standards for Ethical HR Practices 1 HRM practices must result in the greatest good for the largest number of people 2 Employment practices must respect basic human rights of privacy due process consent and free speech 3 Managers must treat employees and customers equitably and fairly