Untitled Deck Flashcards
What is Human Resource Management (HRM)?
HRM refers to the comprehensive set of managerial activities and tasks concerned with attracting, developing, and maintaining a qualified workforce in ways that contribute to organizational effectiveness.
What are the functions of management?
The functions of management include Planning, Organizing, Staffing, Leading, and Controlling.
What does the Planning function entail?
Planning involves establishing goals and standards, developing plans and procedures, and creating forecasts.
What is involved in the Organizing function?
Organizing involves assigning tasks, establishing departments, delegating authority, and coordinating work.
What does Staffing include?
Staffing includes recruiting, selecting employees, setting performance standards, compensating, evaluating, counseling, and training employees.
What is the role of Leading in management?
Leading involves motivating subordinates and maintaining morale to ensure the job gets done.
What does the Controlling function consist of?
Controlling involves setting standards, comparing actual performance to these standards, and taking corrective action as needed.
What are Human Resources?
Human Resources are the people an organization employs to carry out various jobs in exchange for compensation.
What are the key functions of Human Resource Management?
Key functions include Recruitment & Selection, Training & Development, Performance Management, Compensation & Benefits, Employee Relations, Health and Safety, Employee Wellness, Organizational Development, and Compliance.
What is the significance of HRM in contemporary organizations?
HRM is crucial as it helps organizations recognize the importance of people as a competitive advantage.
What is outsourcing in HRM?
Outsourcing is the practice of hiring outside firms to handle basic HRM functions more efficiently than the organization could.
What are some emerging challenges in Human Resource Management?
Emerging challenges include unemployment rates, rights of LGBTQ individuals, the #MeToo movement, corporate social responsibility, and conscious capitalism.
What is the goal of facilitating organizational competitiveness?
The goal is to promote the organization’s ability to be competitive in fulfilling its purpose or mission.
What does enhancing overall quality and productivity mean?
It refers to improving the efficiency and value of outputs relative to inputs.
What is the psychological contract in HRM?
The psychological contract is the set of expectations held by the employee regarding their contributions and what the organization will provide in return.
