COMM 203: Ch 1- Ch 5 Flashcards
What is HRM?
practices, policies and systems that influence employees behavior, attitudes and performance
What are the 8 parts of strategic HRM?
Analysis + design of work, workforce planning, recruiting, selection, training + development, performance management, compensation + rewards, employee + labour relations
Why is HRM so valuable?
people are crucial to organizational success, human capital provides opportunity for substantial competitive advantage
What is human capital?
employees - described in terms of their training, experience, judgement, intelligence, relationships and insight
How does human capital contribute to sustainable competitive advantage?
valuable, rare, cannot be imitated and no good substitutes
What is a high performance work system?
an organization in which technology, organizational structure, people and processes all work together to create an advantage in a competitive environment
- customers = HQ + customized products
- employees = flexible work arrangements
- employers = get employee creativity and interpersonal skills
What are the general categories of tasks that the HR department does? (4)
- administrative services + transactions 2. business partner services 3. strategic partner 4. other - establishing + administering HR policies, ensuring compliance with legal requirements
What are administrative services + transactions?
Handle administrative services and transactions with efficiency and quality e.g. processing tuition reimbursement, answering questions about benefits, etc
What are business partner services?
Develop effective HR systems that help organizations meet goals for attracting, keeping and developing employees with necessary skills. Requires a high understanding of the business
What are strategic partners?
HR professionals that contribute to a company’s strategy through understanding existing and needed HR, gives companies a way to gain a competitive advantage thru HR practices
What are the 9 responsibilities of the HR department?
- analysis and design of work 2. recruitment and selection 3. training and development 4. performance management 5. compensation and rewards 6. employee and labour relations 7. strategy 8. HR policies 9. compliance with legislation
What are the roles of Supervisors and Managers in HRM?
- provide safe and motivational environments
- communicate policies + comply with legal requirements
- recommend pay increases and promotions
- set goals, give feedback and analyze performanced
- interview and select candidates
- train, coach and develop employees
- forecast HR needs
What is the employee experience?
Set of perceptions that employees have about their experiences at work in response to interactions with the organization
Why focus on strategic HRM?
strategic HRM gaining more company support over traditional HRM functions
What are areas of strategic HRM that companies focus on?
- workforce planning
- evidence-based HR
- ESG incorporation
- Mergers and acquisitions
- outsourcing
- productivity improvement
- non-traditional employment and gig economy
- global expansion
- high-performance work systems
What is workforce planning?
identifying the types of employees that organization requires to meet objectives
- hiring/training/reassigning employees
What is evidence-based HR?
collecting/using data to show that HR has a positive influence on profits/stakeholders
- justifies money invested into HR
- corporate social responsibility: boost company image
What is corporate social responsibility?
an organization’s commitment to meeting needs of stakeholders
- minimizing environmental impact
- return on capital
- reliable/safe products
- good compensation + working conditions
What are stakeholders?
parties with an interest in company success
- stockholders, customers, employees, community
Explain productivity improvement
productivity is the relationship between outputs and inputs
- enhanced productivity is necessary to compete in the global economy
Explain global expansion
to keep up with foreign companies in Canada, companies need to compete in foreign markets
- HR needs to consider different cultures and business practices
- expatriates =employees who take assignments in other countries
Explain outsourcing
practice of having another company provide services/goods
(offshoring = setting up a business enterprise in another country)
Explain mergers and acquisitions
merging companies together
- conflicts can arise from differences in company culture, etc
- HR needs to sort out the differences and bring employees together
What core competencies are required to be an HR expert?
- credible activists: well respected
- cultural steward: understand organizations culture; strengthen its values
- talent manager/organizational designer: know how to entice people to join the company
- strategy architect: awareness of business trends
- business allies: know how business achieves success
- operational executors: carry out HR functions