Introduction to Human Resources

• Introduction to Human Resources, for the academic year 2024-2025.
• Module leader is Elnora Mirzalieva, located in office A302, email [email protected].
• Office hours are Monday and Thursday 12:00-1.
• The Telegram channel for the module, https://t.me/+117.

Module Assessments

• Assessment 1 involves a group presentation and report, worth 40%, due on April 12, 2025.
• Assessment 2 is the final exam, which accounts for 60%.

Learning Goals

• Develop an understanding of what it means to be a Human Resources professional.
• An understanding of the definition of Human Resources, plus the responsibilities of an HR professional.

What is Human Resources?

• A human resource is defined as the individuals within an organization, company, industry, or economy.
• Human Resources (HR) encompasses managing people within an organization.
• HR involves utilizing human capital to maximize economic returns.
• HR also entails managing organizational functions to achieve company goals.

History

• Human Resource Management (HRM) did not exist until the 19th century.
• Prior to the 19th century, the economy was primarily based on agriculture.
• There was little need for management since labour was not divided among many people.
• Large corporations did not exist at this time.

History of HRM

• In the 19th century, goods that were manually produced started to be produced by factories and industries.
• Work was produced on a much larger scale from a single location, therefore human work was being replaced by automated machinery.
• Larger companies led to a division of labour, thus, they needed HR for managing human behavior.

Human Behavior Challenges

• Everyone is different and has different needs.
• It can be hard to motivate people to get work done because there is a tendency for people to act in their own self-interest.
• Humans can act in unpredictable ways.

Global Demographic Changes

• The world's population is aging.
• In developed countries, the elderly population has already surpassed the group aged 12-24.
• By 2030, 50% of global consumer spending growth will come from those aged 60+.

Globalization and Competition Trends:

• Firms extend sales, ownership, and manufacturing to other countries.
• A focus on sales expansion, lower labor costs, forming partnerships and offshoring.

Why Organizations use HRM

• Reduces employee turnover to retain human capital, and helps resolve internal employee disagreements.
• Increases job satisfaction and improves both employee and organizational performance.
• Helps to cut costs and establishes organization standards.
• Achieves company mission/vision through proper labor management.
• HRM motivates and helps train employees.

Functional Areas of Human Resources

• Recruitment & Selection
• Training & Development
• Compensation
• Human Resource Planning
• Health & Safety