What is Human Resource Management?
The process of managing human talent to achieve organizations objectives
What is Human Capital?
the knowledge skills and capabilities of individuals that have economic value to an organization
What two factors do human resources have to deal with
Competitive challenges and Employee concerns
What can HR professionals improve
- streamline employment costs
- forecasting labor trends
- designing new ways to acquire and utilize employees
- measuring effectiveness and helping managers enter new markets
what is six sigma
- a set of principles and practices whose core ideas include understanding customers needs doing things right the first time and striving for continuous improvement
Reengineering
the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality , service and speed
Downsizing
Planned elimination of jobs
Outsourcing
Contracting out work that was formerly done by employees
Change management
Change management is a systematic way of bringing about and managing both organizational changes and changes on a individual level
- link the change to the business strategy
- show how the change creates quantifiable benefits
- Engage key employees, customers and their suppliers early when making a change
- Make an investment in implementing and sustaining change
Reactive Changes
changes that occur after external forces gave already affected performance
Proactive Changes
Change initiated to take advantage of targeted opportunities
Golablization
The trend to opening up foreign markets to international trade and investment
Corporate social responsibilities
the responsibility of the firm to act in the best interest of the people and communities affected by its activities
Collaborative software
Software that allows workers to interface and share information with one another electronically
Knowledge workers
Workers whose responsibilities extend beyond the physical execution of work to include planning, decision making and problem solving
Human Resources Information System
A computerized system that provides current and accurate data for purposes of control and decision making
Furloughing
a situation in which an organization asks or requires employees to take time off for wither no pay or reduced pay
no lay off policy
where they guarantee employees lay offs will never happen
offshoring
the business practice of sending jobs to other countries
Nearshoring
The process of moving jobs closer to ones home
Employee Leasing
The process of dismissing employees who are then hired by a leasing company and contracting with that company to lease back the employees
what factors do we need to Respond to demographic and diversity challenges of work force
Demographic changes, Diversity/ immigration challenge, Age distribution of employees and gender distribution in the workforce
Line manager
managers in charge of looking over the work of other employees
What are the responsibilities of and HR manager
Advice and counsel
Service
Policy formulation
Employee advocacy
