Questions and Answers
Organizations depend on ______ to hire and develop skilled employees.
people
The essence of human resource management is to manage employee ______ and wellbeing.
performance
HR strategies must align with corporate ______ to achieve organizational goals.
strategies
HR policies provide guidelines for how specific aspects of HR should be ______.
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Strategic human resource management (SHRM) focuses on managing people in a ______ manner.
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Human capital management (HCM) treats people as ______ for competitive advantage.
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Positive employment relationships are a key element of human resource ______.
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HR practices include activities involved in managing the employment ______.
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Knowledge management involves storing, sharing and making good use of the organization's accumulated ______.
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HR analytics applies ______, statistical and data collection techniques to gain insights into HR matters.
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Digital HRM utilizes digital technologies such as web-based applications and ______ to enhance HRM services.
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HR procedures define how management should carry out certain ______ concerning people.
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Employment law compliance ensures that legal requirements are met by the organization and its ______.
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Resourcing includes workforce planning, recruitment and selection, and ______ management.
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Workforce planning involves establishing the organization's people ______ so that plans can be satisfied.
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Talent management focuses on attracting, retaining, and developing individuals who are of particular ______ to an organization.
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HR practices involve managing the employee experience and dealing with aspects of employment such as induction, release, and ______.
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Learning and development ensure that the organization has the capable people it needs to achieve its ______.
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Performance management is the continuous process of agreeing objectives for individuals and teams and aligning those objectives with the strategic ______.
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Reward management focuses on the development, implementation, and maintenance of a ______ system.
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Employment relations manage the employment relationship and the psychological ______.
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Employee wellbeing aims to improve the quality of working life in terms of individuals' experience of work and how ______ they are with their job.
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International HRM is the process of managing people across international ______ by multinational companies.
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HR processes and procedures affect the approach adopted in practice areas and support the implementation of HR ______, policies, and activities.
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Employees have a stake in their organization that is just as important as the stake held by ______ and senior management.
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Treating employees as people rather than as ______ resources.
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Human capital management (HCM) is an approach to managing people which recognizes their ______ and the importance of measuring that value.
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HCM regards people as assets and emphasizes that competitive advantage is achieved by strategic investments in those ______.
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Human capital management is concerned with the knowledge, skills, abilities, and capacity to ______ and innovate possessed by people in an organization.
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The aim of HCM is to enhance the value of the organization’s human capital so that the business can perform ______ in the short and longer term.
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Human capital consists of intellectual, social, and organizational ______.
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The intellectual knowledge possessed by people is enhanced by the ______ between them.
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The external environment impacts organizations through the forces of national and international ______.
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The constant state of change in the external environment may be turbulent due to events like the Covid-19 pandemic and ______.
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The term ‘VUCA’ stands for volatility, uncertainty, complexity, and ______.
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The labour market is where ______ seek workers and workers seek employment.
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Labour shortages may persist due to demographic and population ______.
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Most people work to earn a living, but they also find ______ in doing something worthwhile.
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The nature of work is changing rapidly, and it is expressed in the employment ______ within organizations.
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The psychological ______ defines how workers feel about their work within organizations.
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Study Notes
Essence of Human Resource Management
- Human Resource Management (HRM) focuses on obtaining, developing, and managing skilled employees to enhance their performance and wellbeing within organizations.
- Organizations must create positive employment relationships and reward employees based on their contributions.
- HRM practices vary depending on organizational type, employee demographics, and operational context.
Human Resource System
- HR strategies guide HRM activities and align with corporate strategies to achieve organizational goals.
- Integration of different HR strategies is crucial for cohesiveness and effectiveness.
- HR policies establish guidelines for specific HR activities, while HR practices involve managing and developing personnel, forming the core of HR operations.
HR Processes
- Strategic HRM (SHRM) links HR practices to organizational strategy for enhanced goal attainment.
- Human Capital Management (HCM) treats employees as assets, emphasizing investment in their ongoing development.
- Knowledge management involves optimizing the organization's accumulated knowledge and expertise.
- HR analytics utilizes data to inform strategic HR decisions and improve various HR functions.
- Digital HRM incorporates technology to streamline HR services, using tools like AI and cloud computing.
- Compliance with employment laws is essential for managing legal risks in HR activities.
HR Practices Overview
- Organizational design focuses on structure and effectiveness in work environments.
- Resourcing encompasses workforce planning, recruitment, selection, and talent management to attract and retain top talent.
- Employment practices include experience management, diversity promotion, and flexible working arrangements.
- Learning and development ensure capability growth in line with organizational goals.
- Performance management aligns individual objectives with strategic goals through performance reviews and development actions.
- Reward management recognizes employee contributions through financial and non-financial means.
- Employee relations manage the psychological contract and collective relationships with workers.
- Employee wellbeing focuses on improving job satisfaction and overall work-life quality.
- International HRM deals with managing workforce challenges across multiple countries.
Treating Employees as Stakeholders
- Employees hold a stake in organizations comparable to that of owners and management, necessitating equal consideration of their interests.
- Recognizing employees as essential contributors rather than mere resources enhances organizational culture.
Human Capital Management
- HCM emphasizes valuing and measuring people as organizational assets critical to competitive advantage.
- Focuses on enhancing the knowledge, skills, and abilities that employees contribute to organizational success.
- Relevant investments are made in talent development and learning practices to maximize human capital value.
Components of Human Capital
- Human capital comprises intellectual, social, and organizational capital, where interaction among employees enhances knowledge.
- Changes and fluctuations in the external environment (economic conditions, competition, etc.) impact organizational stability and require adaptability.
Labour Market Trends
- The labour market connects employers and job seekers, currently facing challenges exacerbated by the Covid-19 pandemic.
- Labor supply issues are primarily linked to demographic changes, which may lead to persistent shortages despite fluctuating demand.
The Future of Work
- The nature of work is evolving, driven by the desire for economic sustenance and intrinsic rewards such as achievement and personal development.
- Employment relationships and psychological contracts influence how work is perceived within organizations.
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Description
This quiz covers the essential concepts of Human Resource Management (HRM), including employee development, performance management, and positive organizational relationships. It aims to highlight the importance of skilled and engaged employees in organizations. Test your knowledge on the key principles that define the essence of HRM.
