HR Management

employee engagement

Refers to being psychologically involved in, connected to, and committed to getting one's job done & open communication among everyone in the company.

Briefly discuss and illustrate the important trends influencing human resource management.

Workforce demographics and diversity Trends in jobs that people do → how can you do something better? Globalization → How can you take advantage of outsourcing and utilizing the best components for organizational success. Economic → what cities are expanding, how, why, simply need more people Technology → social media, analytics, artificial intelligence, etc (how is it utilized in HR)

functional strategy

a strategy that identifies the broad activities that each department will pursue in order to help the business accomplish its competitive goals

HR adding value

adding value means helping the firm and its employees improve in a measurable way as a result of the human resources manager's actions

List at least four important human resource manager competencies.

authority management leadership responsibility

benchmarking

comparing the practices oh high-performing companies' results to your own How are we doing? (In relation to something)

staff authority

gives the right to advise others in the organization

line authority

gives you the right to issue orders

authority

is the right to make decisions, to direct the work of others, and to give orders. Managers usually distinguish between line authority and staff authority.

strategic human resource management

means formulating and executing human resource policies and practices that produce the employee competencies and behaviors the company needs to achieve its strategic aims (including sustainability goals) Some tools include; the strategy map, the HR scorecard, and the Digital dashboards An example of strategic HRM is using a strategy map to have a visualization of the best way to effectively complete any said project. This way everyone knows what they're doing and what needs to be done to maximize returns and progress.

ethics

means the standards someone uses to decide what their conduct and other processes should look like in their organization. Sets the direction of the overall organization

outsourcing

obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.

HR centers of expertise

operate and specialize such as consulting firms that work around HR tasks and objectives

strategizing

process of figuring out WHAT NEEDS TO BE DONE, and HOW TO DO IT, in order to accomplish a goal.

Contingent personnel

temporary personnel for positions

human capital

the skills and knowledge gained by a worker through education and experience

data analytics

using statistical and mathematical analysis to find relationships and make predictions

What is evidence-based human resource management? How does evidence-based human resource management benefit firms?

Is the use of data, facts, analytics, scientific rigor, critical evaluation, and critically evaluated research/case studies to support human resource management proposals, decisions, practices, and conclusions. Everything is based on actual measurements, existing data and research studies to uncover new information that is relevant This specific function of HRM is very vital to the success of firms. When a manager is making decisions that will impact the entire organization it is important to make decisions that are based on factual evidence. If a manager tries to make changes to their organization for the better and it's based on an assumption or the way something makes them feel, then the manager could potentially harm the productivity of the company. Therefore, it is always important to make decisions based on actual metrics to put the company in the best position to succeed and to leave proper room for progression.

sustainability

It is about measuring companies in terms of maximizing profits but also on their environmental and social performance as well for long term success in their respective markets.

Briefly describe six important components or pillars of human management today.

1. Performance Management 2. Evidence based measurement 3. HR adding value 4. Sustainability 5. Employee Engagement 6. Ethics

competitive strategy

A strategy that identifies how to build and strengthen the businesses long-term competitive position in the marketplace (which is also known as business-level/competitive strategy) standards include; Cost leadership Differentiation Focus

Give examples of each of the seven steps in the strategic management process.

Define the current business Perform external and internal audits Formulate a new direction Translate the mission into strategic goals Formulate strategies to achieve the strategic goals Implement the strategies Evaluate performance

corporate strategy

Identifies the portfolio of businesses that, in total, comprise the company and how these businesses relate to each other levels include; Concentration Diversification Vertical Integration Consolidation Geographic Expansion

Evidence-Based Measurement

Is the use of data, facts, analytics, scientific rigor, critical evaluation, and critically evaluated research/case studies to support human resource management proposals, decisions, practices, and conclusions. Everything is based on actual measurements, existing data and research studies to uncover new information that is relevant

Give at least five examples of HR metrics.

Organizational Data Compensation Data HR Expense Data Expectations for Revenue/Organizational Hiring Tuition & Education Data

Explain what human resource management is and how it relates to the management process

HRM → Is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage for their company It relates to the management process by giving your organization a competitive advantage through effective planning, organization, staffing, controlling and leading. This is important because they; help avoid mistakes that other companies might do, improve profits and performance for the company vs competitors and you want everyone to be on the same page in the organization.

SHRM

The Society for Human Resource Management; a professional organization for HR professionals

performance management

The manager is expected to spearhead (the one who is responsible for the forward motion and progress of company) employee performance within the entire organization