2 Weekly Summary and 2 Discussions

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Chapter 1 The Rewards and Challenges of Human Resources Management

Learning Outcomes

Explain how human resources managers and other managers can have rewarding careers by helping their firms gain a sustainable competitive advantage through the strategic utilization of people

Explain how good human resources practices can help a firm’s globalization, corporate-social responsibility, and sustainability efforts

Describe how technology can improve how people perform and are managed

Learning Outcomes

Explain the dual goals HR managers have in terms increasing productivity and controlling costs

Discuss how firms can leverage employee differences to their strategic advantage and how educational and cultural changes in the workforce are affecting how human resources manager engage employees

Provide examples of the roles and competencies of today’s HR managers and their relationship with other managers

Human Resources Management

Process of managing human talent to achieve an organization’s objectives

Importance

Managers play a key role in selecting, training, motivating, appraising and promoting employees

Good personnel help build business

Helps understand one’s rights and responsibilities as an employee

Human Capital and HRM

Human capital: Knowledge, skills, and capabilities of individuals that have economic value to an organization

Intangible and cannot be managed the way organizations manage jobs, products, and technologies

Organizations should utilize employee knowledge and invest in their development

Figure 1.1 - Overall Framework of Human Resource Management

Responding Strategically to Changes in the Marketplace

Making adjustments in labor force

Downsizing: Planned elimination of jobs

Outsourcing: Hiring outside the company to perform processes previously done within the firm

Offshoring: Sending jobs to other countries

Implementing cost-cutting strategies

Enhancing benefit programs

Improving quality

Expanding market shares and product lines

Responding Strategically to Changes in the Marketplace

People resist change as it involves modifying or abandoning familiar ways of working

To manage change, executives and managers have to:

Envision the future

Communicate vision to the employees

Set clear expectations for performance

Develop capabilities to execute by reorganizing people and reallocating assets

Make an investment in implementing and sustaining the change

Responding Strategically to Changes in the Marketplace

Organization that successfully engineers change:

Links it to the business strategy

Shows how it creates quantifiable benefits

Engages key employees, customers, and suppliers early

Makes an investment to implement and sustain it

Strategic changes could be proactive or reactive

To provide knowledge on core business issues, companies:

Assign HR representatives to core business teams

Rotate non-HR managers into HR positions and vice versa

Competing, Recruiting, and Staffing Globally

Integration of world economies and markets have led companies to:

Look for opportunities abroad

Fend off foreign competitiors domestically

Search for the right employees

Companies are making it possible for people to buy anything, anytime, anywhere

Companies of all sizes are engaging in partnerships, mergers, and acquisitions

Competing, Recruiting, and Staffing Globally

National identities of products are blurring

Lower trade barriers with free-trade agreements

General Agreements on Tariffs and Trade (GATT) paved the way for North American Free Trade Agreement (NAFTA) and European Union

GATT was replaced by the World Trade Organization (WTO)

Competing, Recruiting, and Staffing Globally

Issues in HRM due to globalization

Dealing with better informed employees who are willing to pursue global job opportunities

Gauging the knowledge and skill base of workers worldwide

Understanding how to hire and train them

Relocating and training foreign managers abroad to direct the efforts of an international workforce

Setting and Achieving Corporate Social Responsibility and Sustainability Goals

Corporate social responsibility: Responsibility of the firm to act in the best interests of the people and communities affected by its activities

Improves company’s earnings and helps avoid lawsuits

Sustainability: Ability to produce a good or service without damaging the environment or depleting a resource

Companies are making strides to reduce their carbon footprints

HR should spearhead the development and implementation of corporate citizenship

Technology Challenges

Organizations are taking advantage of information technology advancements

Collaborative software: Allows workers to interface and share information with one another electronically

Shift from touch labor to knowledge workers

Knowledge workers: Workers whose responsibilities extend beyond the physical execution of work to include planning, decision-making, and problem-solving

Companies spend on training and virtual learning

Technology Challenges

Human resources information system (HRIS)

Provides current and accurate data for purposes of control and decision-making

Used to:

Automate payroll processing and administer benefits program

Access employee records

Recruit, screen, and pretest applicants online

Train, track, and select employees

Open source HRIS software can be good low cost solution for startups and small businesses

Productivity and Cost Challenges - Maximizing Productivity

Productivity - Output gained from a fixed amount of inputs

Can be increased by:

Reducing inputs

Adding more human and physical capital to the process

Additional productivity will have to come from:

Enhanced ability of employees

Motivation

Work environment

Productivity and Cost Challenges - Managing the Size of the Workforce

Should match the firm’s demand requirements, strategic decision, and competition

Offshoring - Aids quicker delivery of products

Outsourcing - Helps reduce costs and focus on important activities

Nearshoring: Bringing jobs closer to domestic countries

Productivity and Cost Challenges - Managing the Size of the Workforce

Homeshoring: Outsourcing work to domestic workers who work out of their homes

Furloughing: Practice of requiring employees to take time off for either no pay or reduced pay

Hiring part-time employees

Productivity and Cost Challenges - Managing Pay and Benefits

Concerns - High health care costs and compliance with new health reforms

Companies are charging higher premiums to cover spouses

Provide employees a set amount to purchase health insurance on their own

Employee leasing: Dismissing employees who are then hired by a leasing company and contracting with that company to lease back the employees

Provides benefits that small companies cannot afford

Responding to the Demographic and Diversity Challenges of the Workforce

HR managers analyze the capabilities of demographic groups and how well each is represented in fast-growing and slow-growing occupations

Forecast trends to support organizational strategies

Labor force participation rate - Number people employed or actively looking for work

Ethnic and racial differences

Age and gender distribution

Figure 1.2 - Labor Force Participation Rates of Workers of Hispanic origin versus Non-Hispanic Origin

Figure 1.3 - Labor Force Participation Rates of Workers in the Labor Force by Their Ages

Figure 1.4 - Labor Force Participation Rates by Gender

Adapting to Educational Shifts Affecting the Workforce

Education attainment of the labor force has risen dramatically

Helps a person stay out of the ranks of the unemployed

American students are said to lag behind in math and science test scores

HR managers have to find strategies to help their firms compete, despite challenges

Adapting to Cultural and Societal Changes Affecting the Workforce

Culture and society affect one’s behavior on the job and the environment within the organization

Influences reactions to:

Work assignments

Leadership styles

Reward systems

HR policies should be adjusted to cope with ongoing changes

Changing employee rights

Heightened privacy concerns of employees

Adapting to Cultural and Societal Changes Affecting the Workforce

Employers are implementing privacy policies, limit the use of social security numbers and conduct background checks

Excessive monitoring could lead to ligation

Changing attitudes toward work and how they relate to employee engagement

Employees are focused on finding interesting work and pursuing multiple careers

Employee engagement: Extent to which employees are enthused about their work and committed to it

Balancing work and family

Role of HR Managers and T heir Partnership with Other Managers

HR managers help firms choose the best strategies to compete globally

Select ideal HR systems, maximize productivity and manage benefits

Successful organizations combine the experience of line managers with the expertise of HR managers

To develop and utilize the talents of employees to their greatest potential

Line managers: Non-HR managers who are responsible for overseeing the work of other employees

Role of HR Managers and Their Partnership with Other Managers

Responsibilities of human resources managers

Strategic advice and counsel

Service

Policy formulation and implementation

Employee advocacy

Figure 1.7 - Human Resource Competency Model