Chapter 1: What is HRM?

Question 1

define human resource management

Answer 1

an integrated set of systems, practices, and policies in an organization that focuses on effective deployment and development of its employees

OR

getting the right people in the right jobs doing the right things in a way that supports development

Question 2

what are the 3 main hopes of HRM?

Answer 2

1. maximize productivity
2. increase job performance
3. help leaders and employees perform in a way that supports the organizations business strategy and objectives

Question 3

what is the role of managers within an organization? (5)

Answer 3

• determine work and job design
• promote well-being
• make hiring decisions
• coach and develop employees
• review performance

Question 4

what is the role of HR within an organization?

Answer 4

• align HR strategies with business strategies
• delivering services
• strengthen employee contributions

Question 5

how does the role of HR interact with the role of managers?

Answer 5

managers actually implement HR systems and policies but HR ensures they have the tools to do so

Question 6

how does leadership effectiveness impact HRM?

Answer 6

ensure that leadership development is effective and adequately prepares leaders for future work

Question 7

how does change management impact HRM?

Answer 7

ensure that employees are not fatigued and overwhelmed by change

Question 8

how do talent pools impact HRM?

Answer 8

create sourcing strategies that are sufficient for finding the skills they need

Question 9

what is ESG? why is it important

Answer 9

ESG: environmental, social, governance
(social is becoming increasingly important and valued)

• how companies score on these metrics and standards for investments

Question 10

define globalization

Answer 10

local/regional business move into a global marketplace

Question 11

define outsourcing

Answer 11

hiring external persons to do work previously done by an internal employee

Question 12

define independent contractors

Answer 12

people hired for a specific job at a specific time

Question 13

define human capital

Answer 13

the value employees bring through skills, knowledge, and abilities

Question 14

what is corporate strategy vs business strategy?

Answer 14

corporate strategy: focus on overall objectives (e.g. long-term survival and growth)

business strategy: “how do we compete”

Question 15

what is the impact of culture on a bottom line?

Answer 15

a positive culture = improved business results

Question 16

what is organizational culture?

Answer 16

collection of values, expectations, and practices that guide and inform the actions of all team members

Question 17

define HRM strategy

Answer 17

development of HRM policies, programs, and systems that enable employees to achieve business objectives
** (needs to be implemented by management)