Managing Human Resources Final Exam
THEME: ATTRACT, MOTIVATE, RETAIN, AND DEVELOPMENT OF PEOPLE IN THE WORKPLACE
Definition
Focus on managing people within the employer-employee relationship
Productive use of people in achieving:
Organization’s strategic business objectives
Satisfaction of individual employee needs
HR implements policies and practices that motivate employees
Policies positively impact human and social capital
Human Capital
The knowledge, skill, and abilities present in the organizations human resources
Social Capital
The strength of personal relationships existing within an organization that promotes sharing knowledge, employee motivation, and team work etc.
Approaches to Human Resource Management (2)
Hard/Instrumental
Stresses the rational, quantitative, and strategic aspects
Emphasizes performance improvement and competitive advantage
Soft/Humanistic
Emphasizes the integration of HR policies and practices in line with strategic business objectives
Acknowledges employee development, collaboration, participation, and trust
Importance of Human Resources
For Firms
Operation in a competitive environment
Technology can be replicated
“People are the most important asset”
Key resources directly tied to HR function
Employees have to manage other employees
Line manager must hire, evaluate, and make decisions on employees
HRM Influences Performance
P = f (A, M, O)
Individual performance is a function of an employee’s (A)bility, (M)otivation, and (O)pportunity to perform
Workplace Performance
Function of the Organization, Capabilities, and Attitudes
Individual and collective levels are interconnected
Stakeholders
Individuals, groups, or organizations that are affected by or have a vested interest in an organizations policies or decisions
Business Strategies (3)
Implications on how to manage employees
Innovation
Cost Reduction
Quality Enhancement
Take a “best fit” approach
Work Design
Job...