CH 1 HR Flashcards
What is Human Resource Management (HRM)?
Managing human talent to achieve organizational goals.
What are the key individual outcomes impacted by HRM?
Job satisfaction, person-job fit, health and well-being.
Define human capital.
Knowledge, skills, and capabilities of employees that provide economic value.
Why is human capital unique?
It’s intangible, employee-owned, and cannot be managed like physical assets.
What are the six competitive issues HRM addresses?
1) Containing costs, 2) CSR and sustainability, 3) Advancing technology, 4) Responding to crises, 5) Demographic diversity, 6) Educational shifts.
What are the strategies for containing labor costs?
Downsizing, furloughing, outsourcing, offshoring, nearshoring.
What is Corporate Social Responsibility (CSR)?
Acting in the best interests of communities and stakeholders.
What is sustainability in HRM?
Minimizing environmental harm while maintaining profitability.
How does HR Information Systems (HRIS) support HRM?
Automates tasks, improves decision-making, and enables data-driven HR strategies.
What is workforce analytics? HR
Using data to improve:
recruitment
performance,
leadership decisions.
What are the two types of organizational change?
Reactive change (response to external forces) and proactive change (preparing for opportunities).
List tools used for managing crises and disruptions.
Six Sigma, reengineering, downsizing, outsourcing.
What are the major demographic challenges in HRM?
Aging workforce, increased diversity, and gender inclusion.
What is the role of certifications like CHRP in HR?
Provides professional credentials to HR practitioners for better competency.
What is the importance of job satisfaction in HRM?
Increases employee engagement, productivity, and retention.