Hr slide 5

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Hr slide 5

  1. 1. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Chapter 1 Human Resource Management and Competitive Advantage
  2. 2. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-1 Human Resource Management • Human resource management: Consists of practices that help the organization deal effectively with its people during the various phases of the employment cycle. • Three phases of the employment cycle:  Pre-selection – Planning practices.  Selection – Recruiting applicants and selecting the most qualified.  Post-selection – Practices designed to maximize the performance and satisfaction levels of employees.
  3. 3. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-1d HRM Practices Influenced by External Factors • Legal and environmental issues:  Federal, state, and local laws are designed to guarantee employees’ rights to fair and safe treatment.  Social, economic, and technological events also strongly influence HRM practices. • Workplace justice laws: Addresses the issue of employee rights. • Union influences: Regulate many HRM practices such as discipline, promotion, grievance procedures, and overtime allocations.
  4. 4. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-1d HRM Practices Influenced by External Factors (cont.) • Safety and health concerns: Institution of accident prevention programs, wellness programs, and employee assistance programs to ensure the health and mental well-being of employees. • International influences: Development of globally oriented managers who understand foreign languages and cultures, as well as the dynamics of foreign marketplaces.
  5. 5. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-2 Who Is Responsible for Developing and Implementing HRM Practices? • Human resource professionals  Establish HRM procedures and methods.  Monitor and evaluate HR practices.  Advise and assist managers on HRM-related matters. • Line managers  Direct employees’ day-to-day tasks.  Implement HRM practices.  Provide HR professionals with needed inputs for developing effective practices.
  6. 6. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-3 Gaining a Competitive Advantage & 1-3a Competitive Advantage Defined • Firms gain competitive advantage by effectively managing their human resources. • Competitive advantage is a status achieved by a company when gaining a superior marketplace position relative to its competition. • This is accomplished through cost leadership and product differentiation.
  7. 7. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-4a Evidence Linking HRM Practices to Competitive Advantage • Jeffrey Pfeffer identified 16 HRM practices:  Employment security  Selectivity in recruiting  High wages  Incentive pay  Employee ownership  Information sharing  Participation and empowerment  Teams and job redesign
  8. 8. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. 1-4a Evidence Linking HRM Practices to Competitive Advantage (cont.) • Jeffrey Pfeffer identified 16 HRM practices (cont.):  Training and skill development  Cross-utilization and cross-training  Symbolic egalitarianism  Wage compression  Promotion from within  Long-term perspective  Measurement of practices  Overarching philosophy
  9. 9. © 2010 Cengage Learning. Atomic Dog is a trademark used herein under license. All rights reserved. Figure 1-4 A Model Linking HRM Practices to Competitive Advantage

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