ADMN2230 Human Resource Management PDF

Welcome to ADMN2230! Human Resource Management Professor: Mahbub Alam, MSc, MBA, PhD 1 Belcourt, M., Singh, P., Snell, S., Morris, S. & Bohlander, G. Managing Human Resources (9th EdiCon). Nelson, Toronto. Text is required for this course...

Welcome to ADMN2230! Human Resource Management Professor: Mahbub Alam, MSc, MBA, PhD 1 Belcourt, M., Singh, P., Snell, S., Morris, S. & Bohlander, G. Managing Human Resources (9th EdiCon). Nelson, Toronto. Text is required for this course 2  Course EvaluaCon ParCcipaCon: 10% Individual Assignment: 20% Mid-term: 30% Final: 40% 3  ExpectaCons From you – Come prepared to the class – Participate in class activity/discussion From me – Facilitate learning – Explain key concepts (not the whole chapter) – Answer your questions All assigned readings are fair game for tes6ng, even if they are not covered in class. 4  Lecture Slides I will aim to post slides used in the lecture on BB approximately 12-24 hours before class – But… not all informaCon covered in class will be included. – InformaCon related to acCviCes, exercises, videos, etc will not be posted. 5  THE WORLD OF HUMAN RESOURCE MANAGEMENT Chapter 1 Why study HRM? Competitive Business Issues and HRM 66  Purpose of HR Employee EXciency Employee Wellbeing Human Resources Management (HRM) is the process of managing human talent to achieve an organizaCon’s objecCves 7  Why Study HRM? One Entrepreneur “My first year investing in small business that was failing, I tripled the amount of business that company did, and made a lot of money. But I did not pay my personnel enough or motivate them. They eventually abandoned me, and a larger competitor muscled me out of marketplace. I now understand the important role personnel play in a business. They can make it or break it.” Thomas J Watson, Founder of IBM “You can have capital and erect buildings, but it takes people to build a business.” Believe it or not, many business-people with great business strategies, business plan, and products and services fail because they do not fully grasp the importance of HRM. 8  Why Study HRM? Regardless of whether you plan on working in an HR department or not– to work with people effectively, you need to understand human behaviour and you must be knowledgeable about the various systems and practices available to help you build a skilled and motivated workforce. Staffing the organization, designing jobs and teams, developing skilful employees, improving employee performance, rewarding employees are all JONIT functions - responsibility of both HR and LINE Managers 9  Why Study HRM? In your career, would you like to: – establish the strategic direction your firm should take? – attract top-notch people to come to work for you? – determine the right people to hire? – help and coach people so they become top performers? – make pay decisions that may influence peoples’ lives?. If your answers are YES to the above questions, you should study as how to manage people. 10  Human Capital and HRM Words to describe how important people are to organizations: Human Resources Human Capital Intellectual Assets Talent Management 11  Human Capital and HRM Human capital: – knowledge, skills, and abilities of individuals that have economic value to an organization – intangible – cannot be managed the way organizations manage jobs, products, and technologies Valuable – Capital is based on company-specific skills – Gained through long-term experience – Can be expanded through development 12 Framework for HRM Copyright © 2020 by Nelson Education Ltd. 13  Compe66ve Issues and HRM Issue 1: Responding Strategically to Changes and Disruptions in the Local and Global Marketplace Issue 2: Setting and Achieving Corporate Social Responsibility and Sustainability Goals Issue 3: Advancing HRM with Technology Issue 4: Containing Costs While Retaining Top Talent and Maximizing Productivity Issue 5: Responding to the Demographic and Diversity Challenges of the Workforce Issue 6: Adapting to Educational and Cultural Shifts Affecting the Workforce 14 Issue 1: Responding Strategically to Changes and Disrup6ons in the Local and Global Marketplace HR Managers and Business Strategy From administrative tasks to strategic partners HR managers need an intimate understanding of their firm’s competitive business operations and strategies. Human resources managers need to understand: – Total quality improvement – Six Sigma – Reengineering – Change management (Proactive Change vs Reactive Change) 15 Issue 1: Responding Strategically to Changes and Disrup6ons in the Local and Global Marketplace Downsizing – Planned elimination of jobs (“head count”) Layoffs Outsourcing – Contracting outside the organization to have work done that formerly was done by internal employees Offshoring (Global Sourcing) – Business practice of sending jobs to other countries 16 Issue 1: Responding Strategically to Changes and Disrup6ons in the Local and Global Marketplace Globalization Approximately 70–85 percent of the Canadian economy today is affected by international competition. Impact of Globalization Partnerships with foreign firms Lower trade and tariff barriers 17  Issue 2: SeOng and Achieving Corporate Social Responsibility and Sustainability Goals Corporate Social Responsibility The responsibility of the firm to act in the best interests of the people and communities affected by its activities Sustainability is closely related to corporate social responsibility: – Doing business in a way that does as little harm to the environment and depletes as few natural resources as possible 18  Issue 3: Advancing HRM with Technology From Touch Labour to Knowledge Workers – Knowledge Workers: Workers whose responsibilities extend beyond the physical execution of work – Collaborative software allows workers to interface and share information from anywhere, anytime. 19  Issue 4: Containing Costs While Retaining Top Talent and Maximizing Produc6vity Organizations take many approaches to lowering labour-related costs, including: Carefully managing employees’ benefits Downsizing/Layoff Outsourcing Offshoring Employee Furloughing and Leasing 20  Issue 4: Containing Costs While Retaining Top Talent and Maximizing Produc6vity Hidden Costs of a Layoff: Severance and rehiring costs Accrued vacation and sick-day payouts Pension and benefit payoffs Potential lawsuits from aggrieved workers Loss of institutional memory and trust in management Lack of staffers when the economy rebounds Survivors who are risk averse, paranoid, and political 21 Issue 4: Containing Costs While Retaining Top Talent and Maximizing Produc6vity Benefits of a No-Layoff Policy: – A fiercely loyal, more productive workforce – Higher customer satisfaction – Readiness to snap back with the economy – A recruiting edge – Workers who aren’t afraid to innovate, knowing their jobs are safe 22  Issue 5: Responding to the Demographic and Diversity Challenges of the Workforce Demographic Changes Managing Diversity More diverse workforce Being aware of Aging workforce characteristics common More educated to employees, while also workforce managing employees as individuals 23  Issue 6: Adap6ng to Educa6onal and Cultural ShiWs AXec6ng the Workforce Educational and Cultural Factors: Cultural and societal changes affecting the workforce (Millennials) Employee rights Privacy concerns of employees Changing nature of the job Changing attitudes toward work Balancing work and family 24 HR Competency Model Copyright © 2020 by Nelson Education Ltd. 2525