Chapter 1: Human Resource Management

Resumen HUMAN RESOURCE MANAGEMENT CHAPTER 1: HRM
THE STRATEGIC IMPORTANCE OF MANAGING HUMAN RESOURCES:
- important companies see human resources as assets that need to be managed conscientiously and in tune with their organizations` needs , with employees who are eager and able to address competitive challenges (as Google, attracting and keeping great intellectual talent become a necessity)SATISFYING MULTIPLE STAKEHOLDERS - an organization`s approach to managing HR is central to its ability to satisfy its many stakeholders
Stakeholders- individuals or groups that have interests, rights or
ownership in an organization and its activities
- customers, suppliers, employees, society and other organizations
-benefit from the organization`s successes and can be harmed by itsfailures and mistakes
The most important group of stakeholders: Primary Stakeholders:
-Those whose concerns the organization must address in
order to ensure its own survival
-success - defined by how effectively these groups are served
- means effectively servingthe interest of the primary stakeholders, whose needs define the firm`s fundamental objectivesOWNERS AND INVESTORS invest bcs of fin. reasons, they want to see growth in their capital. To determine a firm`s value in the e. , some investors focus on tangible assets.
Tangible assets - relatively easy to measure, Inventory, equipment, real estate, financial assets
New economy:
Intangible human assets - are comparatively social in nature and include such organizational characteristics as anemployer-of-choice reputation, the depth of employee talent and loyalty, and the ability to innovate and change.
- influence company`s profitability through complex chains of causes and effects
- Effective HR practices can positively affect the bottom line
Customers
-Engaged employees can have a direct impact on customer satisfaction.

- Understanding the customer’s perspectiveSociety

-Legal compliance: legitimacy & community support
-Community relations: public opinion & expectations
-Social responsiveness in HRM
*  Type of employees the company chooses to hire.
*  Criteria used to evaluate their performance.
*  The scheduling & coordinating of activities within work units.
*  Compensation practices in paying employees fortime spent in the community (voluntary labor).
* Other Organizations
* - Suppliers
* Physical & human resources.
* - Unions
* Adversarial to collaborative, problem-solving relationship with management.
* -Alliance Partners

* Achieve common goals.
* Establish joint ventures.
* Organizational Members (The Employees)
* Pay& Benefits

* Quality of Work Life

* Employability
* “We’re not giving those benefits to our employees because we’re a successful company. We’re a successful because we’re giving to our people”
*
* Win-Win Situations

* -HRM can create synergies from the diverse concerns of various stakeholders.
* -Properly managing human resources can provide solutions tohow best to satisfy
* the objectives of multiple stakeholders, even when the objectives seem to conflict.
*
* GAINING & SUSTAINING A COMPETITIVE ADVANTAGE
* core employees who are a source of added value
* +
* employees who are rare
* --- using HRM to gain competitive advantage
* === a culture that can`t be copied
* A FRAMEWORKFOR MANAGING HUMAN RESOURCES EFFECTIVELY
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* THE EXTERNAL ENVIRONMENT
* Globalization of business.

* Labor market conditions & trends.
* Economic & political trends.

* Laws & regulations.

* Cultural differences.

* Unions.
* THE ORGANIZATIONAL ENVIRONMENT
* Top management`s
*...