Human Resource Management: Gaining a Competitive Advantage.
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Transcript of Human Resource Management: Gaining a Competitive Advantage.
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Human Resource
Management: Gaining a
Competitive Advantage
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The greatest tragedy… is not the destruction of our natural resources, though that tragedy is great. The truly great tragedy is the destruction of our human resources by our failure to fully utilize our abilities, which means that most men and women go to their graves with their music still in them.
Oliver Wendell Holmes; Professor at Harvard, 1809-1894
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Introduction• Competitiveness – a company’s ability to maintain and gain market share
• Human resource management – the policies, practices, and systems that influence employees’ behavior, attitudes, and performance
.
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Human Resource Management Practices
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Responsibilities of HR Departments
1. Employment and Recruiting2. Training and Development3. Compensation4. Benefits5. Employee Services6. Employee and Community
Relations7. Personnel Records8. Health and Safety9. Strategic Planning
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HR as a Business
with 3 Product
Lines
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6 Competencies for the HR Profession
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How is the HRM Function Changing?
•As part of its strategic role, one of the key contributions that HR can make is to engage in evidence-based HR.
•Evidence-based HR – demonstrating that human resource practices have a positive influence on the company’s bottom line or key stakeholders.
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The HRM Profession
•HR salaries vary depending on education and experience as well as the type of industry
• The primary professional organization for HRM is the Society for Human Resource Management (SHRM)
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Competitive Challenges Influencing Human
Resource Management
• Challenge of Sustainability
• The Global challenge• The Technology
challenge
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Top 10 Knowledge and skills Expected to increase in
Importance
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Concerns with Employee Engagement
Employee engagement - degree to which employees are fully involved in their work and strength of their commitment.
10 Common Themes of Employee Engagement
1. Pride in employer2. Satisfaction with employer3. Satisfaction with the job4. Opportunity to perform challenging work5. Recognition and positive feedback from contributions6. Personal support from manager7. Effort above and beyond the minimum8. Understanding the link between one’s job and the
company’s mission9. Prospects for future growth with the company10.Intention to stay with the company
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The Balanced Scorecard• The balanced scorecard
gives managers the opportunity to look at the company from the perspective of internal and external customers, employees and shareholders.
• The balanced scorecard should be used to:–Link human resource
management activities to the company’s business strategy.–Evaluate the extent to which
the human resource function is helping the company’s meet it’s strategic objectives.
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The Balanced Scorecard
How do customers see us? What must we excel at? Can we continuously improve and
create value? How do we look to shareholders?
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Managing a Diverse Workforce
To successfully manage a diverse workforce, managers must develop a new set of skills including:
Communicate, coach and develop employees from a variety of backgrounds
Provide performance feedback that is based on objective outcomes
Create a work environment that makes it comfortable for employees of all backgrounds to be creative and innovative.
Recognize and respond to generational issues.
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4 Principles of Ethical Companies
1. Successful companies, in their relationships with customers, vendors, and clients, emphasize mutual benefits.
2. Employees assume responsibility for the actions of the company.
3. Companies have a sense of purpose or vision the employees value and use in their day-to-day work.
4. They emphasize fairness; another person’s interests count as much as their own.
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The Technology Challenge
•Advances in technology have:– changed how and where we work– resulted in high-performance work systems– increased the use of teams to improve customer service and product quality– changed skill requirements– increased working partnerships– led to changes in company structure and reporting relationships
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The Technology Challenge
Advances in technology have increased:
• use and availability of Human Resource Information Systems (HRIS)
• use and availability of e-HRM• competitiveness in high performance
work systems
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High-Performance Work Systems
Work in Teams- Virtual Teams
Changes in Skill RequirementsWorking in Partnerships.Changes in Company Structure
and Reporting Relationships.Increased Use and Availability of
e-HRM and Human Resource Information Systems.
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Good Luck With the Semester!