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HRM
Human Resource management
HRM
Class Emphasis
Show “best-in-class” HRM practices
Understand how HRM practices support business strategy
How to use, design, purchase HRM products and services
Understand current HRM issues
HRM
What do we need to know?
What is HRM?
What challenges make HRM important for business success?
What does it mean for HRM to be “strategic”?
How has the HR function changed?
HRM
Key Issues/ Hot Topics
E-HRM (Training, Surveys, Benefits Enrollment)
Downsizing
Work-Life Balance
Outsourcing the Function? Which Parts?
“Winning the War for Talent”
Pay: Linking Pay to Performance, Stock Options
Performance Management Systems
The “Human Element” in Mergers and Acquisitions
Benefit Cost Containment and Sharing
Security
Diversity
HRM
What are the Goals of Indian Business?
Create “Value” and “Wealth”“Value” and “Wealth” for whom?To create “value” and “wealth” a company has to be competitive
HRM
Good HRM is Necessary to Meet Competitive Challenges
Globalization New Markets Expatriates
Meeting Stakeholders’ Needs Unions, Employees, Community, Shareholders, Customers Balanced Scorecard Quality
High-Performance Work Systems Teams, virtual teams, integrate technology and social systems
New Economy Development of e-business Value of knowledge Labor force skills don’t match job requirements Changes in employment relationship Demanding work but more flexibility
HRM
HRM Practices
Analysis and Design of Work (How do we provide value?) HR Planning (How to use the labor force?)Recru HRMent (Find )Selection (Choose )Training & Development ( Teach )Compensating Human Resources ( Pay)Performance Management (Measure)Employee Relations (Get along with them)
HRM
Does HRM Matter?
Companies with happy workers have greater annual return to shareholders than companies that do not
Employee morale is related to customer satisfaction
Companies with progressive HRM practices significantly outperform companies that have less progressive practices on financial indicators (ex. sales and dividend growth)
HRM
Key to Implementing the Business Strategy
Business Strategy & Processes
• Reliability
• Growth in Market Share
• Safety
• Asset Utilization
• Environmental Stewardship
• Process Improvement
HR Strategy
• Talent Acquisition and Retention
• Clear Vision and Objectives
• Teamwork & Communication
• Accountability
• Leadership
Competitive Advantage
• Lower Fixed Costs
• World Class Performance
• Faster Decision Making
• Improved Revenues
• Efficient Operations
Profits, Growth,
Shareholder Value
HRM
HRM is successfully engenders a pool of highly motivated and uniquely capable people who individually and collectively use this drive and talent to build and deploy organizational capabilities for creating an competitive advantage for the company over competitors that they can not easily replicate in the marketplace
Definition
HRM
HRM: Whose Responsibility?
Traditionally: HRM was a functional responsibilityCurrent: Shift to functional manager as HR key playerFunction builds partnerships with line managersConfiguration of function may vary across organizations but clearly there is a move from a transactional orientation to transformational orientationOutsourcing of HRM Administrative tasks - e.g. record keeping, legal,
benefits Use of Consultants E-HRM (Web for benefit enrollment, training) Third party provider
HRM
Traditional HR Function Model
Head of HR
Staffing Training Compensation Employee Relations
HR Generalists
HRM
New HR Model
Sr. HR Team
Administrative Service Center
Center of Excellence
Business Partners
Transactions
Focus on efficiency
Specialists Expertise and Design Consulting
Generalists with responsibility to line managers as consultants and planners
HRM
An HR Function That Creates Value….
Knows the business basics
Communicates in management language
Proposes ideas and develop action plans
Helps management implement ideas
Follows-through
Gets out of the HR department - talk to customers
HRM
HR Competencies
Strategic Partner Programs that relate to business issues and strategies
(e.g, succession planning, recru HRMent, retention)
Administrative Expert Use of Technology (self-service) Outsourcing
Change Agent
Employee Advocate
HRM
Evaluating the HR Function
Audit of Practices
User Reactions
Benchmarking Society for Human Resource Management (www.shrm.com) National Human Resource Development Network (NHRDN) National Institute of Personnel Management (NIPM) Indian Society for Training and Development
(www.istdhrd.org)
Metrics (e.g., survey results, turnover rates)