Human Relations Fundamentals Flashcards
What are three HR fundamentals?
- Talent management and culture
- Talent acquisition
- Learning and development
What is talent management?
Refers to the anticipation of required human capital for an organization and the planning to meet those needs
How does talent management compare to human resources?
Talent management is a more holistic approach to human capital planning: it looks at whether the potential employees are good for the current role and for future roles. It is all-encompassing (you cannot think of a specific aspect of human resources in isolation)
What are the driver’s for talent management?
- Talent shortages
- Global expansion needs for globally capable talent
- Growth in emerging markets
- Shortages of managerial and executive talent especially in emerging markets
- Increased need for speed and scale
- Need for innovation in products and services
What are the myths around talent management?
- Best practice set exist for talent management (there is no one set way to manage talent best within an organization)
- Most effective organizations have sophisticated feature rich processes (adapt it to your own organization)
- Ownership resides in HR (HR is the facilitator/champion of change; it starts with the CEO)
- Leading edge technology should define talent management processes
- Just adopt Company “X’s” Approach
- One size fits all
What is corporate culture?
Refers to the shared values, attitudes, standards, and beliefs that characterize members of an organization and define its nature
What are the six components of a great corporate culture?
- Vision
- Values
- Practices
- People
- Narrative
- Place
Explain the significance of vision in corporate culture
It aligns people around the purpose of the organization
Explain the significance of values in corporate culture
The guiding principles that help employees understand what is expected in their daily actions
Explain the significance of practices in corporate culture
The practices that employees use should be consistent throughout the company
Explain the significance of people in corporate culture
They are the most valued resource, and they join/leave a company based on that company’s values. You need to hire employees whose values align with your company
Explain the significance of a narrative in corporate culture
How a company was founded/created; people tell those stories in their own way over time, and it starts to have a life of its own and defines the company
Explain the significance of a place in corporate culture
Your place of work can either support or inhibit your culture. For example, promoting a cooperative work environment requires not boxing everyone in cubicles
How do you cultivate the right culture in your company?
- Clear expectations
- Transparency (about what you expect)
- Consistency (encouraging those practices)
- Accountability (make sure people align with your culture)
- Get buy in (make sure that what people are saying about your culture align with what employees experience)
- Recognize and reward behaviours (for modelling your culture)
- Invest in culture enriching activities
- Hire value aligned employees
What is talent acquisition?
The process of finding and acquiring skilled human talent for organization needs and to meet any labour requirement