Human Resource Management, Gaining a Competitive Advantage
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A company's ability to maintain and gain market share in its industry.
Human Resource Management (HRM)
Policies, practices and systems that influence employee' behavior, attitudes, and performance.
- 1- Analysis and design of work
- 2- HR planning
- 3- Recruiting
- 4- Selection
- 5- Training and development
- 6- Compensation
- 7- Performance management
- 8- Employee relations
Three product line of HR as a business
- Administrative services and transactions
- Business partner services
- Strategic partner
Giving employees online access to HR information.
The practice of having another company provide services.
Demonstrating that human resource practices have a positive influence on the company's bottom line or key stakeholders (employees, customers, community, shareholders)
Competitive challenges influencing HRM
- Competing through sustainability
- Competing through globalization
- Competing through technology
The ability of a company to survive in a dynamic competitive environment. Based on a approach to organizational decision making that considers company's ability to make a profit without sacrificing the resources of its employees, the community, or the environment.
The various interest groups who have relationships with, and consequently whose interests are tied to the organization (e.g., employees, suppliers, customers, shareholders, community)
A type of company asset including human capital, customer capital, social capital, and intellectual capital.
Employees who own the intellectual means of producing a product or service.
Giving employees responsibility and authority to make decisions.
Employees are continually trying to learn new things.
Expectations of employee contributions and what the company will provide in return.
The degree to which employees are fully involved in their work and the strength of their job and company commitment.
Common Themes of employee Engagement
- Pride in employer
- Satisfaction with employer
- Satisfaction with the job
- Opportunity to perform challenging work
- Recognition and positive feedback from contribution
- Personal support from manager
- Effort above and beyond the minimum
- Understanding the link between one's job and company's mission
- Prospects for future growth with the company
- Intention to stay with the company
A systematic planned strategic effort by a company to attract, retain, develop, and motivate highly skilled employees and managers.
Alternative work arrangements
Independent contractors, on-call workers, temporary workers, and contract company workers who are nor employed full-time by the company.
A means of performance measurement that gives managers a chance to look at their company from the perspectives of internal and external customers, employees, and shareholders.
- BSC perspectives:
- Customer, Internal, Innovation and learning, Financial
Total Quality Management (TQM)
A cooperative form of doing business that relies on the talents and capabilities of both labor and management to continuously improve quality and productivity.
Malcolm Baldrige National Quality Award
An award established in 1987 to promote quality awareness, to recognize quality achievements of U.S. Companies, and to publicize successful quality strategies.
Quality standards adopted worldwide.
Six Sigma Process
System of measuring, analyzing, improving, and controlling process once they meet quality standards.
A process used to determine how to use less effort, time, equipment, and space but still meet customer's requirements.
Internal labor force
Labor force of current employees.
External labor market
Persons outside the firm who are actively seeking employment.
Set of skills for managers to manage a diverse workforce
- 1-Communicating effectively with employees from a wide variety of cultural backgrounds.
- 2-Coaching and developing employees of different ages, educational background, ethnicity, physical ability and race.
- 3-Providing performance feedback that is based on objective outcomes rather than values and stereotypes.
- 4-Creting a work environment that makes it comfortable for employees of all backgrounds to be creative and innovative.
- 5-Recognizing and responding to generational issues.
Sarbanes-Oxley Act of 2002
A congressional act passed in response to illegal and unethical behavior by managers and executives. The act sets stricter rules for business specially accounting practices including requiring more open and consistent disclosure of financial data, CEO's assurance that the data is completely accurate, and provisions that affect the employee-employer relationship.
Exporting jobs from developed to less developed countries.
Exporting jobs to rural parts of the United States.
High Performnce Work Systems
Work systems that maximize the fit between the company's social system and technical system.
Involve employees with various skills who interact to assemble a product or provide a service.
Training employees in a wide range of skills so they can fill any of the roles needed to be formed on the team.
Teams that are separately by time, geographic distance, culture, and/or organizational boundaries and rely exclusively on technology for interaction between team members.
Electronic Human Resource Management (e-HRM)
The processing and transmission of digitized information used in HRM.
Human Resource Information System (HRIS)
A system used to a acquire, analyze, retrieve, and distribute HR information.
HR metrics such as productivity, absenteeism that are accessible by employees and managers through the company intranet or human resource information system.
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