MGMT 3331 HR Management Chapter 1 PDF

**Chapter 1** What is Human Resource Management? - refers to the policies, practices, and systems that influence employees\' behavior, attitudes, and performance. - plays a role in a company\'s survival, effectiveness, and competitiveness HRs Strategic role - Lead efforts focused...

**Chapter 1** What is Human Resource Management? - refers to the policies, practices, and systems that influence employees\' behavior, attitudes, and performance. - plays a role in a company\'s survival, effectiveness, and competitiveness HRs Strategic role - Lead efforts focused on talent management and performance management - Take the lead in helping companies attract, develop, and retain talent in order to create global workforces - Use and analyze data to make a business case for ideas and problem solutions HR\' Strategic Role Cont. \-   Demonstrating the Strategic Value of HRM: HR Analytics and Evidenced-Based HR \-   HR can engage in evidence-based HR \-   Requires the use of HR or Workforce Analytics BIG DATA -  Information merged from HR databases, corporate financial statements, employee surveys, and other data sources - Result in evidence-based HR decisions - Show that HR practices influence the organization\'s both profits and costs 9 Competencies for HR Professionals - HR Technical Expertise & Practice - Business Acumen - Critical Evaluation - Ethical Practice - Global and Cultural Effectiveness - Communications - Org Leadership & Navigation - Consultation - Resource Management HRM Profession Facts - HR positions vary according to position, experience, education, training, location and firm size - Overall employment in HR-related positions expected to grow 9% between 2014 and 2024 - The primary professional organization for HRM is the SOCIETY for HUMAN RESOURCE MANAGEMENT (SHRM) ⭐️ 3 Competitive Challenges Influencing HRM - 1\. Technology - 2\. Sustainability - 3\. Globalization The Sustainability Challenge (1 out of 2) - Sustainability relates to social responsibility - Sustainability refers to the company\'s ability to meet its needs without sacrificing the ability of future generations to meet their needs - Company must meet the needs of stakeholders - Stakes include shareholders, the community, customers and all other parties that have to seeing that the company succeeds. - Sustainability includes the ability to: - Deal with economic & social changes - Practice environmental responsibility - Engage in responsible and ethical business practices - Provide high-quality products and services - Put in place methods to determine if the company is meeting stakeholders\' needs Global Challenges - Offshoring - exporting jobs from developed countries to less developed countries - Reshoring - moving jobs from overseas to U.S. - Onshoring - exporting jobs to rural part of the United States - Companies MUST deal with the global economy, compete in and develop global markets and prepare employees for global assignments Technology Challenges - Advanced Technologies Internet Social Networking Labor Force and Employment Characteristics - Population is the most important factor in determining the size and composition of the labor force - Growth is slowing - Labor force is aging - Diversity is increasing - Service sector is growing - Education is important to meet job requirements - Shortage of qualified candidates Common Themes of Employee Engagement - pride in employer, satisfaction with employer, satisfaction with job, opportunity to perform challenging work, recognition and positive feedback from contributions, personal support from manager, effort above and beyond the minimum, understanding the link between one\'s job and the company\'s mission, prospects for future growth with the company, intention to stay with the company Talent Management - Attracting and retaining top talent - The right talent, at the right time, in the right place Nontradional Employment - Time Flexibility - Varying start and finish time - Reduced hours - Term-Time working - Compressed hours - Sabbatical or extended career break - Location Flexibility - Work from home - Family-leave programs - 75% of workers want flexible remote work options to continue after the immediate need has passed. Changing Demographics and Workplace Demographics - Recognize and capitalize on the demographics and diversity of the workplace ✔️ Internal labor force - current employees ✔️ External labor market - persons outside the firm actively seeking employment - avg she of workplace will increase - increases workplace diversity - immigration will affect size and diversity - generational difference with 5 generations - Gender and racial composition of the workplace