Chapter 1: The Strategic Role of Human Resource Flashcards
Organization
people with formally assigned roles who work together to achieve the organization’s goal
Manager
responsible for accomplishing the organization’s goal and does so by managing the efforts of the organization’s people
Management Process Five Functions
- planning
- organizing
- staffing
- leading
- controlling
Human Resource Management
management of people/employees in organizations to drive successful performance and achieve organizational goals
Mutual Gains Model
indicates that HRM activities, processes, and procedures benefit both the organization and employees
What, How and Why of HRM
- what practices help regulate employees?
- how do these practices impact employees, behaviours, outcomes, business?
- why are specific practices needed?
Strategic Plan
company’s overall plan for how it will match its internal strengths and weaknesses with its external opportunities and threats to maintain competitive advantage
Strategy
course of action the company can pursue
Strategic Management
process of executing the organization’s strategic plan by matching the company’s capabilities with the demands of the environment
Human Capital
the knowledge, education, training, skills, and expertise of a firm’s workforce
Outsourcing
contracting with outside vendors to handle specific business function on a limited term or permanent basis
Separate HR Teams
divide HR activities into separate silos such as recruitment, training, employee relations to ensure that the employee in each segment get specialized training and rewards
Transaction HR Teams
provide support in day-to-day activities through centralized call centres or outside vendors
Corporate HR Teams
assist top management in top-level issues
Embedded HR Teams
have HR generalists assigned to function departments and focus on coaching and mentoring other department leaders
Centres of Excellence (COEs)
specialized HR consulting firms within a company
Human Capital Life Cycle
selection and assimilation, development of capabilities, transition out
DEI
diversity, equity, and inclusions
Allyship
activity supporting people from marginalized groups by using one’s power or privilege to amplify unheard voices and advocate for oppressed peoples
Evidence-Based HRM
use of data, facts, analytics, and research to support HRM proposals, decisions, practices, conclusions
Strategy Map
A graphical tool that summarizes the chain of activities that contribute to a company’s success. Shows the employees the big picture of how their performance contributes to achieving the company’s overall strategic plan (clarifies “line of sight”)
Balanced Scorecard
translates an organization’s strategy into a set of performance measures. Scorecard softwares quantify relationships between HR activities, resulting employee behaviours, and firm wide outcomes
- aims to balance hard data such as financial measures with soft data such as customer satisfaction
Succession Planning
The percentage of senior management positions with subordinates who are fully ready to move to the management role when the position becomes available
Digital Dashboard
presents the manager with graphs and charts of how the company is doing on all the metrics from the HR scorecard process
Ethics
study of standards of conduct and moral judgement
Morality
the society’s accepted standards of behaviour
How Can managers create ethical environment
- reduce job-related pressures
- make it clear what is and what is not okay
- model desired behaviour
- reinforce the desired behaviour
- take it seriously
How HRM can create an ethical environment
- institute ethics policies and codes
- enforce the rules
Social Responsibility
companies approach to balancing its commitments, not only to investors but also to employee, customers, and other businesses in which it operates
External Environmental Influences
- Labour market issues
- Economic conditions
- Technology
- Government
- Globalization
- Environment
Labour market Issues
- workforce composition
- generational differences
- contingent workers
Equity
fairness embedded in associated processes. Ensure all employees have equal access to opportunities needed to succeed
Diversity
variation in the groups characteristics which includes identity, personality, cognitive skills
Inclusion
an environment where the employee feels respected, accepted, supported, valued
Four Designated Groups
- women, visible minorities, indigenous people, persons with disabilities
Occupational Segregation
existence of certain occupation that have been traditionally limited to employees of a certain demographic characteristic
Employment Relationship
company exerts direct control over the work that is done, where it is done, how it is evaluated, and other employment considerations
Direct Employment
hired and paid directly by organization with the company having control over employment decisions
Co-Employment
company and a third party share directive control over employment decisions
Contract Worker
company does not exert direct control over the work that is done, where it is done, how it is evaluated, and other employment considerations
Productivity
ratio of an organization’s outputs to its inputs
Internal Environmental Influences
- organizational culture
- organizational climate
- management practices
Organizational Culture
Core values, beliefs, and assumptions that are widely shared by members of an organization
Value
basic belief about what is right and wrong
Culture
conveyed through an organization’s mission statement, stories, myths, symbols, ceremonies
Organizational Climate
The perception a company’s employees share about the firms psychological atmosphere, in terms of employee well-being, flexibility, ethics, supervision, rewards, politics, and empowerment
Climate can be
- friendly or unfriendly
- open or secretive
- rigid or flexible
- innovative or stagnent
Empowerment
providing workers with skills and authority to make decisions that would typically be made by management
