Lesson 1: Strategic Role of HRM Flashcards
Define: Balanced scorecard
It measures the impact HRM has on an organization
Define: certification
Recognition for having met certain professional standards
Define: employee engagement
Emotional and intellectual involvement of employees in their work (intensity, focus etc)
Define: empowerment
Providing workers with skills and authority to make decisions often made by managers
Seen often in flat structure organizations
Define: environmental scanning
Identifying opportunities and threats crucial for success
Define: globalization
The emergence of a single global market
Hr needs to be aware of ethics and legislations from other countries
Define: human capital
The knowledge, education, training, skills and expertise in an organization
Define: human resource movement
Focus or concern for people and productivity
Define: human resource management
Management of people in an organization to drive successful organization performance and achievement
Define: outsourcing
Contracting outside business vendors to handle specific business functions
Define: primary sector
Hunting, fishing, trapping, agriculture
Smallest sector
Define: scientific management
Scientifically analyzing manufacturing and performance costs to optimize
Define: secondary sector
Construction and manufacturing
Middle sector
Define: strategy
Company’s plan for how it will balance internal strengths and weaknesses with external threats and opportunities to maintain a competitive advantage
What are the main goals in HRM
- find and hire the best fit
- develop their talents
- create productive environments
- build and monitor human assets
what is the difference between a line manager and a staff manager
a line manager has the authority to direct other managers and employees
a staff manager assists and advices the line manager
what is the difference between line authority and staff authority
line authority gives managers the right to direct
staff authority gives the right to advise
what are the five critical areas of knowledge for HRM
- business acumen
- legal and legislation
- talent management
- broad HR knowledge
- employee labour relations
what are HRM duties
- to be credible activist
- to be a culture and change steward
- talent management and organization design
- strategy architect
- operational executuor (lead through change)
- business ally
What are the 5 “streams” of HRM
traditional HR (recruit/train/relations) Transactional HR (support day to day) Corporate HR (top level issues and plan) Embedded HR (to a functional department) Centres of expertise (specialized within a company)
metrics
metrics are stats used to measure activities and results of HR
WAS - activity + cost of HR
NOW - quality of people + effectiveness of HR
What are the tree types of balanced scorecards
- financial measures
- operational measures
- department success
CCHRA
federal level
Canadian Council of Human Resources Association
WFPMA
world federation of people management association
