01_ the rewards nd challenges of HRMv3 pdf.pdf

Human Resource Management Mylah Bomediano Why Human Resource Management Knowledge on HRM is important for managers and entrepreneurs of all types Human capital and HRM The knowledge, skills, abilities and other attributes of (KSAOs) that have economic value to the firm “compete through...

Human Resource Management Mylah Bomediano Why Human Resource Management Knowledge on HRM is important for managers and entrepreneurs of all types Human capital and HRM The knowledge, skills, abilities and other attributes of (KSAOs) that have economic value to the firm “compete through people” Overall Framework for Human Resource Management Strategic and Global Challenges being able to adapt to capture opportunities and overcoming obstacles both domestically and abroad Responding strategically to changes in the marketplace “No change means no chance” Down sizing, outsourcing and offshoring or global sourcing Manage changes : organizational and individual individual To successfully engineer change Link change to business strategy Shows how the change creates quantifiable benefits Engages key employee, customers and suppliers early when making the change Makes investment in implementing and sustaining the change Proactive vs Reactive changes Competing, Recruiting and staffing globally Globalization “Buying anything, any time, anywhere” Partnership, mergers, takeovers General Agreement on Tariffs and Trade (GATT), NAFTA, WTO Issues: different geographies with different cultures, employment laws, business practices, safety of employees nd facilities abroad Setting and achieving Corporate Social Responsibility and sustainability goals Good corporate citizenship The responsibility of the firm to act in the best interest s of the people and communities affected by its activities Improvement in people’s living standards “Sweat shop labor” Setting and achieving Corporate Social Responsibility and sustainability goals Corporate social responsibility The responsibility of the firm to act in the best interest o the people and communities affected by its activities Help avoid lawsuits and improve earnings Sustainability : does not harm environment; depletes as few natural resources as possible Carbon footprints Less hazardous wastes Technology challenges Information explosion Cloud computing Collaborative software Vlogs, social media Touch labor to knowledge workers; knowledge based training HRMIS : a central use of technology ; employee records, payroll; online information in matching specific skill sets Productivity and Cost Challenges Maximizing Productivity Technology + enhanced ability of workers Managing the size of workforce Nearshoring, homeshoring and Furloughing Managing Pay and Benefits Healthcare benefits Employee leasing Employee Challenges Responding to the demographic and diversity challenges of the workforce Ethnic and racial diversity (immigrant workers, minorities..) Age distribution of the workforce ( Baby boomers – retirement age, millennials – tech, Gen X – value job security, independent, ) Gender distribution of the workforce (women, equality) Employee Challenges Adapting to educational shifts affecting the workforce - educational attainment ; - qualified people  Adapting cultural and societal changes fetching the workforce - changing employee rights(right to equal employment opportunity; union representation; safe and healthful work environment; equal pay for equal work…) - heightened privacy concerns of employees (social security numbers, data protections laws; - changing attitudes toward work and how they relate to employee engagement (enthused about work and committed ; less complicate work but with more meaning ) - Balancing work and family - single parent, two-wage-earner families,… The role HR managers play and their partnership with other managers HRM has dual role, serving management and staff Understanding the challenges and discovering how the workers provide value to the organization Partner with line managers (non-HR managers, over-seeing the work of other employees) utilize talents of employees to their greatest potential - Those handling operations, accounting, marketing… Different types of human-resource managers who specialize different HR functions: - employee training and development - recruitment - compensation - study effects of industry trends and occupational trends - labor relations * helping people manage people more effectively Responsibilities of HRManagers Strategic advice to counsel - in house consultant to supervisors, managers and executives; knowledge of internal employment information and productivity metrics as well on external trends economic, unemployment, legal and regulatory issues, ethics, compensation Service - recruiting, selecting, testing and planning and conducting programs; talent management programs Policy formulation and implementation - propose and draft new policies; revision of policies to covering recurring or anticipated problems; monitor compliance with established policies, procedures and practices Employee advocacy – lining to employee concerns; representing their needs to managers; make certain that the interest of employees and organizations are aligned Competencies HRManagers require Human Resource Competency Model Business Mastery - understanding of an organizations customers and economic and financial capabilities; good problem solving skills; innovative and creative HR mastery - the organizations behavioral science experts; knowledge on staffing, development, appraisals, rewards, team building, performance measurement, communication; interpersonal skills Personal credibility (internal and eternal to firm) - credibility and trusts by developing good relationships; values; equitable ; code of ethical and professional standards