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HRM Practices. Human resource management (HRM) is defined as the practices, policies, and systems that influence employees ’ behaviour, attitudes, and performance. LO1. Why are people so valuable?. HRM has traditionally been viewed as an expense—rather than a source of value Human capital
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HRM Practices • Human resource management (HRM) is defined as the practices, policies, and systems that influence employees’ behaviour, attitudes, and performance LO1
Why are people so valuable? • HRM has traditionally been viewed as an expense—rather than a source of value • Human capital • An organization’s employees, described in terms of their training, experience, judgment, intelligence, relationships, and insight • Human resources are valuable, rare, cannot be imitated, and have no good substitutes • Foundation of high-performance work system LO1
Impact of HRM LO1
• Handling administrative tasks • Efficiency and commitment to quality • Requires expertise in tasks • Developing effective HR systems • Must understand the business • • Contributing to company’s strategy • Must understand the business, its industry, and its competitors What are the responsibilities of HR departments? Administrative services & transactions Business partner services Strategic partner . LO1
Responsibilities of HR Departments Analyzing & designing jobs Ensuring compliance Recruiting & hiring HR Departments Training & developing HR policies Managing performance Employee & Labour Relations Compensation & rewards LO1
