Chapter 1 - S1 - Human Resource Management Functions Flashcards
Is a strategic approach to managing an organization’s human resources with a focus on attracting, developing, retaining, and maximizing the potential of talented individuals to achieve the organization’s goals and objectives.
Talent Management
Key elements of talent management typically include:
- Talent Acquisition
- Talent Development
- Performance Management
- Succession Planning
- Career Pathing
- Retention
- Workforce Analytics
4 main activities of Human Resource Management
- Acquisition
- Development
- Motivation
- Maintenance of Human Resources
Involves the processes of attracting, sourcing, selecting, and hiring qualified individuals for various job roles within the organization.
Acquisition
Focuses on enhancing the skills, knowledge, and abilities of employees to improve their performance and contribute effectively to the organization.
Development
Involves creating a positive work environment, recognizing employee contributions, and implementing strategies to increase employee engagement and job satisfaction.
Motivation
Activities that aim to retain and sustain the workforce over the long term.
Maintenance of Human Resources
Includes: recruitment strategies, candidate evaluation, and making informed hiring decisions to bring in the right talent.
Acquisition
Includes: training programs, career development initiatives, mentoring, and continuous learning opportunities.
Development
Includes: managing employee relations, ensuring fair compensation and benefits, addressing workplace concerns, and creating a safe and inclusive workplace culture.
Maintenance of Human Resources
2 functions of Human Resource Management
Basic functions and Operative functions
General management: planning, organizing, directing, coordinating, and controlling
Basic functions
Daily activities of business: procurement, placement and utilization of employees, motivating, and compensating employees
Operative functions
One of the basic functions of HRM. Developing strategies and action plans to align HR activities with organizational goals, anticipating workforce needs, and creating a roadmap for effective HR management.
Planning
One of the operative functions of HRM. Involves attracting, sourcing, and recruiting suitable candidates to fill vacant positions within the organization. Includes: activities such as job analysis, job posting, candidate screening, interviewing, and selecting the best-fit individuals for the roles.
Procurement of Employees