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Questions and Answers
What is the primary focus of this text?
What is considered as capital for a business?
What is the role of every manager as per the text?
What does Human Resource Management (HRM) involve?
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What is the most important resource for a company?
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What is the primary responsibility of HRM managers?
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How can HR managers effectively understand the impact of external forces on employees?
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What are some examples of external aspects that HRM managers should keep up to date with?
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What is the process of employing people, training them, and developing workplace policies called?
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Where can managers find contemporary human resource issues and job postings?
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What are the seven main responsibilities of HRM managers?
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How can HR managers stay up to date with new laws, trends, and policies?
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What is the primary focus of human resource management (HRM) according to the text?
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What is the primary purpose of compensation and benefits administration in HRM?
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What is a major factor in employee retention according to the text?
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What is essential for ensuring higher productivity and increased employee retention?
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What is a crucial responsibility of HRM professionals according to the text?
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Why do HR managers need to consider external factors such as globalization, changes in employment law, and technology?
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What are the significant implications of the Patient Protection and Affordable Care Act for HRM according to the text?
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What are the potential consequences of non-compliance with external factors according to the text?
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What must HRM develop policies to meet the needs of according to the text?
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Why is understanding external factors crucial for HR managers according to the text?
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What is the evolving role of HRM according to the text?
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What is the responsibility of HR managers regarding laws affecting the workplace according to the text?
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Study Notes
The Evolving Role of Human Resource Management
- HRM has transitioned from an administrative role to a strategic function crucial for organizational success.
- Jack Welch emphasizes the importance of HRM in both good and hard times.
- HRM plays seven main roles in organizations, including compensation and benefits administration, retention, training and development, dealing with laws affecting employment, and awareness of external factors.
- Compensation and benefits administration involves ensuring fair compensation, meeting industry standards, and motivating employees to work for the organization.
- Retention involves keeping and motivating employees to stay with the organization, with compensation being a major factor but not the sole reason for employee turnover.
- Training and development are essential for ensuring employees are trained for their job and continue to grow and develop new skills, resulting in higher productivity and increased employee retention.
- HRM professionals must be aware of laws affecting the workplace and communicate changes to the entire management organization.
- HR managers need to consider external factors such as globalization, changes in employment law, health-care costs, diversity of the workforce, and technology, as these may positively or negatively impact human resources.
- External factors like the Patient Protection and Affordable Care Act have significant implications for HR, especially regarding health-care coverage and recruitment strategies.
- Non-compliance with external factors can lead to alienated employees, legal implications, and unmotivated, unhappy workers.
- HRM must develop policies that meet the needs of both the company and the individuals, considering external challenges and changes.
- Understanding external factors is crucial for HR managers to avoid breaking the law and ensure motivated, happy employees.
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Description
Test your knowledge of the evolving role of Human Resource Management with this quiz. Explore the transition from administrative tasks to strategic functions, the importance of compensation and benefits administration, retention strategies, training and development, and the impact of external factors on HRM. Evaluate your understanding of the crucial role HRM plays in organizational success and its impact on employee motivation and compliance with employment laws.
