Strategic HRM Flashcards
What is human capital?
Knowledge, skills and abilities present within an organisation’s workforce
What is social capital?
The strength of personal relationships within an organisation (promotes sharing of knowledge, motivation, team work and commitment)
Describe an “instrumental” approach to HRM
Rational, quantitative, strategic focus
Low trust culture
Describe a “humanistic” approach to HRM
Acknowledges importance of strategic HR (i.e. alignment with business objectives) but also acknowledges employee development
Promotes collaboration, participation and high levels of trust
What are “high performance HR practices”?
Practices that positively impact human/social capital, organisational outcomes and its relationship to senior management.
What is instrumental HRM also known as?
Hard HRM approach
What is humanistic HRM also known as?
Soft HRM approach
What are the 8 roles of a HR manager?
- Change and cultural transformation catalyst
- Talent manager
- Employee advocate
- Organisational ambassador
- Strategic partner
- Legal advisor
- Brand and snr exec resource counsellor
- HR functional expert
What is productivity a measure of in an organisation?
HRM performance
How should a HR professional mitigate ethical issues in the profession?
Clear and well communicated policies, procedures and codes of conduct.
Shaping culture.
Why are HR policies important?
They reassure employees they will be treated fairly and objectively.
Help managers make quick, consistent decisions
Give managers the confidence to resolve problems and defend decisions
What is organisational culture?
The values, beliefs, assumptions and symbols that define how an organisation conducts business.
What is involved in strategic management?
- Formulate strategy & implement
- Evaluate feedback
- Review & develop (mission & objectives)
- Perform SWOT
What is strategic HRM?
The linking of all HR activities within the organisation’s strategic objectives.
List types of HRM strategies.
Growth
Retrenchment
Stability
A combination of all
