Current trends in human resource management include dealing with the effects of globalization, workforce diversity, changing skill requirements, corporate downsizing, continuous improvement initiatives, and more. HR must prepare for these changes by training managers and employees to recognize and value diversity; communicate changing skill needs; minimize the negative effects of downsizing; prepare individuals for organizational changes; offer retraining during reengineering; and support employee involvement through training and leadership. Addressing these trends allows HR to help organizations adapt to a rapidly changing world of work.
The document provides information about Special Drawing Rights (SDRs) created by the International Monetary Fund. It discusses that SDRs were created in 1969 as a supplemental international reserve asset intended to supplement a shortfall of gold and US dollars. The value of an SDR is defined by a weighted basket of currencies including the US dollar, Euro, British pound, and Japanese yen. SDRs are allocated to IMF members based on their IMF quota and can only be exchanged between central banks for freely usable currencies.
Development International Staff and Multinational TeamSundar B N
This document discusses developing international staff and multinational teams. There are four key components: international recruitment and selection, international training and development, cross-cultural training, and localization. International recruitment involves assessing needs, identifying talent globally, and offering competitive rewards. Training bridges gaps in capabilities for new roles. Cross-cultural training teaches host country behaviors and cultural awareness. Localization assists expatriates' adjustment to local cultures. Developing international teams requires addressing challenges in recruitment, retention, performance, and global talent management.
Developing international staff and multinational teamsRamrao Ranadive
This document discusses developing international staff and multinational teams. It identifies four categories of global assignments: technical, functional/tactical, developmental/high potential, and strategic/executive. Training and development in international human resource management is important for acquiring and transferring knowledge, managing foreign subsidiaries, filling staffing needs, maintaining communication and coordination between subsidiaries and headquarters, and developing global leadership competence. The training requirements for an assignment depend on the roles and responsibilities, tenure, staffing trends and orientations, and the extent of control and coordination by the parent company. Effective training focuses on cross-cultural training, orientation to the unit's approach, and preparatory or post-assignment training.
The document discusses five approaches to staffing international subsidiaries: ethnocentric, polycentric, regiocentric, and geocentric. The ethnocentric approach involves headquarters making all decisions and staffing key roles with parent country nationals. Polycentric treats each subsidiary as a distinct national entity staffed by locals. Regiocentric reflects the organization's geographic structure with talent drawn from regions. Geocentric takes a global approach where each subsidiary contributes unique competencies. The approaches differ in costs, control, adaptation challenges and opportunities for career progression.
The challenges faced by female expatriateEKAGHNIDEY
The document discusses the challenges faced by female expatriates working abroad. It notes that while all expatriates face issues like culture shock, language barriers, and loneliness, female expatriates face additional challenges including lack of support from their organizations, limited professional networks, and uncomfortable working environments in countries with patriarchal societies. Individual barriers for women expatriates include balancing dual careers, family responsibilities, child rearing during overseas assignments, and biases in expatriate selection processes. The document recommends HR provide pre-departure cultural training, establish mentorship programs, and offer expanded support to help female expatriates overcome challenges.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
The document provides information about Special Drawing Rights (SDRs) created by the International Monetary Fund. It discusses that SDRs were created in 1969 as a supplemental international reserve asset intended to supplement a shortfall of gold and US dollars. The value of an SDR is defined by a weighted basket of currencies including the US dollar, Euro, British pound, and Japanese yen. SDRs are allocated to IMF members based on their IMF quota and can only be exchanged between central banks for freely usable currencies.
Development International Staff and Multinational TeamSundar B N
This document discusses developing international staff and multinational teams. There are four key components: international recruitment and selection, international training and development, cross-cultural training, and localization. International recruitment involves assessing needs, identifying talent globally, and offering competitive rewards. Training bridges gaps in capabilities for new roles. Cross-cultural training teaches host country behaviors and cultural awareness. Localization assists expatriates' adjustment to local cultures. Developing international teams requires addressing challenges in recruitment, retention, performance, and global talent management.
Developing international staff and multinational teamsRamrao Ranadive
This document discusses developing international staff and multinational teams. It identifies four categories of global assignments: technical, functional/tactical, developmental/high potential, and strategic/executive. Training and development in international human resource management is important for acquiring and transferring knowledge, managing foreign subsidiaries, filling staffing needs, maintaining communication and coordination between subsidiaries and headquarters, and developing global leadership competence. The training requirements for an assignment depend on the roles and responsibilities, tenure, staffing trends and orientations, and the extent of control and coordination by the parent company. Effective training focuses on cross-cultural training, orientation to the unit's approach, and preparatory or post-assignment training.
The document discusses five approaches to staffing international subsidiaries: ethnocentric, polycentric, regiocentric, and geocentric. The ethnocentric approach involves headquarters making all decisions and staffing key roles with parent country nationals. Polycentric treats each subsidiary as a distinct national entity staffed by locals. Regiocentric reflects the organization's geographic structure with talent drawn from regions. Geocentric takes a global approach where each subsidiary contributes unique competencies. The approaches differ in costs, control, adaptation challenges and opportunities for career progression.
The challenges faced by female expatriateEKAGHNIDEY
The document discusses the challenges faced by female expatriates working abroad. It notes that while all expatriates face issues like culture shock, language barriers, and loneliness, female expatriates face additional challenges including lack of support from their organizations, limited professional networks, and uncomfortable working environments in countries with patriarchal societies. Individual barriers for women expatriates include balancing dual careers, family responsibilities, child rearing during overseas assignments, and biases in expatriate selection processes. The document recommends HR provide pre-departure cultural training, establish mentorship programs, and offer expanded support to help female expatriates overcome challenges.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
This document discusses several approaches to human resource development (HRD). It defines HRD as activities designed by organizations to provide members with necessary skills. Six main approaches are described: 1) The strategic HR framework links HRD practices to building capabilities to achieve goals. 2) The integrative framework examines how HRD contributes to performance through capabilities, satisfaction, and customers. 3) The human capital appraisal approach involves five stages of managing capital in five areas. 4) The People Capability Maturity Model provides guidance to improve software development capabilities through maturity levels. 5) The integrated systems approach views strategy as the starting point and aims for synergy across HRD functions. 6) The HRD scorecard approach links HRD interventions to
Capital movement theory describes international capital movement as any transfer of capital between countries, in the form of physical capital or financial capital, with the goal of obtaining extra profit through interest, dividends, shares, or rental profits from corporations abroad. International capital movement plays an important role in the economic development of many countries by providing outlets for savings, helping to finance underdeveloped countries, easing balance of payments problems, and contributing to more stable economic growth patterns through smoothing of business cycles. One of the most significant economic developments of the 1990s was the surge in international capital flows resulting from greater financial liberalization and technological improvements.
Latest trends in human resource management (By- Ravi Thakur from CMD)Ravi Thakur
This document discusses several topics related to human resource management including the nature, scope, and trends in HRM. It describes HRM as bringing people and organizations together to meet mutual goals. The scope of HRM is divided into personal, welfare, and industrial relations aspects. Key trends discussed include outsourcing HR functions, managing diversity, addressing talent scarcity, emphasizing industrial relations, using social media, and adopting HR technology.
The document discusses emerging trends in human resource management. It notes that HR's role is shifting from administrative to strategic in order to help organizations gain a competitive advantage. Specific trends mentioned include the need for continuous employee training due to technological changes. HR will also have to manage a more diverse workforce and develop new policies around performance management, compensation, and employee retention. The role of HR professionals is expanding to include responsibilities like organizational development, career planning, and acting as an agent of change within companies.
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
The globalization of business has increased the need for international human resource management. There are four key components to developing international staff and multinational teams: international recruitment and selection, training and development, cross-cultural training, and localization. Developing an international team involves recruitment and selection, training and development including pre-departure training and international assignments. Multinational companies provide cross-cultural training to teach expats appropriate norms and behaviors in the host country. Localization of expats is also important for international human resource management.
This document discusses VEBA (Voluntary Employees' Beneficiary Association), which is a tax-exempt trust that employers can establish to fund life, health, or other benefits for employees. Key points include: VEBA provides tax benefits for both employers and employees; employers can deduct contributions and earnings grow tax-free; benefits are secured from creditors; and VEBA must comply with nondiscrimination and coverage rules to maintain tax-exempt status. Disadvantages include complexity, loss of employer control in multiple employer plans, and potential for overfunding issues.
The document discusses the challenges that globalization poses for human resource management. It defines globalization as the increased openness of economies to international trade, financial flows, and foreign direct investment. Some of the key human resource challenges discussed are diversity recruitment to relate to an increasingly diverse customer base, the need for professional development and training to gain new skills for the global marketplace, managing laws across different jurisdictions to avoid legal issues, developing work place flexibility including virtual offices, needing language capabilities or translators to work with international employees, developing a global workforce and managing cultural differences to promote diversity.
This document discusses international human resource management. It covers topics such as the characteristics of IHRM, the need for a broader perspective when working internationally, different types of expatriate employees, the expatriate assignment life cycle, challenges of expatriate assignments like culture shock and failure, training programs, compensation packages, repatriation processes, and managing a multicultural workforce. The overall purpose seems to be to provide an overview of the key aspects and considerations of international HRM.
Mint Parity Theory - History, Definition, Advantages and DisadvantagesSundar B N
The mint parity theory explains how exchange rates between countries on the gold standard were determined. Under this system, currencies were defined by and convertible to a fixed quantity of gold. The exchange rate between two currencies adhering to the gold standard was based on the parity of the mint price of gold in the two countries. This ensured stability in exchange rates as long as countries maintained their commitment to gold convertibility at a fixed price. However, the gold standard broke down in the early 20th century, rendering the mint parity theory obsolete.
Role of compensation in organization - compensation management - Manu Melwi...manumelwin
Compensation is fundamental to organization formation and its existence. People work to earn their living and organization compensates employees by providing monetary and non monetary benefits and other amenities for producing goods and services.
IHRM deals with managing human resources on a global scale, considering laws across countries and the diverse needs of an internationally diverse workforce. IHRM involves more complexity in managing employees from different cultures and countries, and must adapt to external global risks and influences. In contrast, HRM focuses only on domestic operations and employees, following standard domestic policies and facing less complexity and risk given the homogeneous domestic workforce.
Human Resource Development Intervention in Macro LevelAshis Kumar Behera
Human resource is best and valuable resource in both organisation context and also in Country/state context. Development of this resource boost the organisation objective in positively.
MMTC is India's largest international trading company, with a global network spanning Asia, Europe, Africa, Oceania, and the Americas. It handles a diverse range of products including minerals, metals, fertilizers, agro products, coal, hydrocarbons, chemicals, and precious metals. MMTC has over 75 domestic offices and warehouses and one wholly owned international subsidiary in Singapore. In 2008-2009, MMTC achieved record revenues of over $32 billion despite a global economic slowdown, demonstrating its strength and resilience.
The document discusses the key roles of a global HR manager according to David Ulrich's HR model. It identifies four roles: 1) HR Business Partner who works closely with senior leaders to develop an HR agenda supporting organizational aims, 2) Change Agent who helps the organization transform by focusing on effectiveness and development, 3) Administration Expert who aims to improve efficiency and reduce costs, and 4) Employee Advocate who ensures employees get fair treatment and promotes communication. The document also discusses decision making, coordination, integrating mechanisms, and staffing policies in global human resource management.
This document provides an overview of Special Drawing Rights (SDR) including:
1. SDRs were created by the IMF in 1969 as a supplemental international reserve asset to help address limitations of using gold and dollars.
2. The value of an SDR is determined by a basket of 5 currencies - US dollar, Euro, Chinese yuan, Japanese yen, and British pound - and their relative weights are adjusted every 5 years based on trade and reserves.
3. SDRs can be allocated to IMF member countries to supplement their official reserves, with the amount based on their IMF quota share. They can also be used in transactions with the IMF or to represent the value of international financial contracts.
Currency convertibility refers to the ability to freely exchange one currency for another. It encourages international trade but a government may restrict it if they do not have sufficient foreign currency reserves. India has moved towards partial convertibility by allowing residents to freely convert currency for current account transactions like trade but maintains some restrictions on capital account transactions like investments.
Human resources management and planningSOURABH KUMAR
Human Resource Management, or HRM, is the practice of managing people to achieve better performance. For example, if you hire people into a business, you are looking for people who fit the company culture as they will be happier, stay longer, and be more productive than people who won't fit into the company culture.
This document discusses several approaches to human resource development (HRD). It defines HRD as activities designed by organizations to provide members with necessary skills. Six main approaches are described: 1) The strategic HR framework links HRD practices to building capabilities to achieve goals. 2) The integrative framework examines how HRD contributes to performance through capabilities, satisfaction, and customers. 3) The human capital appraisal approach involves five stages of managing capital in five areas. 4) The People Capability Maturity Model provides guidance to improve software development capabilities through maturity levels. 5) The integrated systems approach views strategy as the starting point and aims for synergy across HRD functions. 6) The HRD scorecard approach links HRD interventions to
Capital movement theory describes international capital movement as any transfer of capital between countries, in the form of physical capital or financial capital, with the goal of obtaining extra profit through interest, dividends, shares, or rental profits from corporations abroad. International capital movement plays an important role in the economic development of many countries by providing outlets for savings, helping to finance underdeveloped countries, easing balance of payments problems, and contributing to more stable economic growth patterns through smoothing of business cycles. One of the most significant economic developments of the 1990s was the surge in international capital flows resulting from greater financial liberalization and technological improvements.
Latest trends in human resource management (By- Ravi Thakur from CMD)Ravi Thakur
This document discusses several topics related to human resource management including the nature, scope, and trends in HRM. It describes HRM as bringing people and organizations together to meet mutual goals. The scope of HRM is divided into personal, welfare, and industrial relations aspects. Key trends discussed include outsourcing HR functions, managing diversity, addressing talent scarcity, emphasizing industrial relations, using social media, and adopting HR technology.
The document discusses emerging trends in human resource management. It notes that HR's role is shifting from administrative to strategic in order to help organizations gain a competitive advantage. Specific trends mentioned include the need for continuous employee training due to technological changes. HR will also have to manage a more diverse workforce and develop new policies around performance management, compensation, and employee retention. The role of HR professionals is expanding to include responsibilities like organizational development, career planning, and acting as an agent of change within companies.
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
The globalization of business has increased the need for international human resource management. There are four key components to developing international staff and multinational teams: international recruitment and selection, training and development, cross-cultural training, and localization. Developing an international team involves recruitment and selection, training and development including pre-departure training and international assignments. Multinational companies provide cross-cultural training to teach expats appropriate norms and behaviors in the host country. Localization of expats is also important for international human resource management.
This document discusses VEBA (Voluntary Employees' Beneficiary Association), which is a tax-exempt trust that employers can establish to fund life, health, or other benefits for employees. Key points include: VEBA provides tax benefits for both employers and employees; employers can deduct contributions and earnings grow tax-free; benefits are secured from creditors; and VEBA must comply with nondiscrimination and coverage rules to maintain tax-exempt status. Disadvantages include complexity, loss of employer control in multiple employer plans, and potential for overfunding issues.
The document discusses the challenges that globalization poses for human resource management. It defines globalization as the increased openness of economies to international trade, financial flows, and foreign direct investment. Some of the key human resource challenges discussed are diversity recruitment to relate to an increasingly diverse customer base, the need for professional development and training to gain new skills for the global marketplace, managing laws across different jurisdictions to avoid legal issues, developing work place flexibility including virtual offices, needing language capabilities or translators to work with international employees, developing a global workforce and managing cultural differences to promote diversity.
This document discusses international human resource management. It covers topics such as the characteristics of IHRM, the need for a broader perspective when working internationally, different types of expatriate employees, the expatriate assignment life cycle, challenges of expatriate assignments like culture shock and failure, training programs, compensation packages, repatriation processes, and managing a multicultural workforce. The overall purpose seems to be to provide an overview of the key aspects and considerations of international HRM.
Mint Parity Theory - History, Definition, Advantages and DisadvantagesSundar B N
The mint parity theory explains how exchange rates between countries on the gold standard were determined. Under this system, currencies were defined by and convertible to a fixed quantity of gold. The exchange rate between two currencies adhering to the gold standard was based on the parity of the mint price of gold in the two countries. This ensured stability in exchange rates as long as countries maintained their commitment to gold convertibility at a fixed price. However, the gold standard broke down in the early 20th century, rendering the mint parity theory obsolete.
Role of compensation in organization - compensation management - Manu Melwi...manumelwin
Compensation is fundamental to organization formation and its existence. People work to earn their living and organization compensates employees by providing monetary and non monetary benefits and other amenities for producing goods and services.
IHRM deals with managing human resources on a global scale, considering laws across countries and the diverse needs of an internationally diverse workforce. IHRM involves more complexity in managing employees from different cultures and countries, and must adapt to external global risks and influences. In contrast, HRM focuses only on domestic operations and employees, following standard domestic policies and facing less complexity and risk given the homogeneous domestic workforce.
Human Resource Development Intervention in Macro LevelAshis Kumar Behera
Human resource is best and valuable resource in both organisation context and also in Country/state context. Development of this resource boost the organisation objective in positively.
MMTC is India's largest international trading company, with a global network spanning Asia, Europe, Africa, Oceania, and the Americas. It handles a diverse range of products including minerals, metals, fertilizers, agro products, coal, hydrocarbons, chemicals, and precious metals. MMTC has over 75 domestic offices and warehouses and one wholly owned international subsidiary in Singapore. In 2008-2009, MMTC achieved record revenues of over $32 billion despite a global economic slowdown, demonstrating its strength and resilience.
The document discusses the key roles of a global HR manager according to David Ulrich's HR model. It identifies four roles: 1) HR Business Partner who works closely with senior leaders to develop an HR agenda supporting organizational aims, 2) Change Agent who helps the organization transform by focusing on effectiveness and development, 3) Administration Expert who aims to improve efficiency and reduce costs, and 4) Employee Advocate who ensures employees get fair treatment and promotes communication. The document also discusses decision making, coordination, integrating mechanisms, and staffing policies in global human resource management.
This document provides an overview of Special Drawing Rights (SDR) including:
1. SDRs were created by the IMF in 1969 as a supplemental international reserve asset to help address limitations of using gold and dollars.
2. The value of an SDR is determined by a basket of 5 currencies - US dollar, Euro, Chinese yuan, Japanese yen, and British pound - and their relative weights are adjusted every 5 years based on trade and reserves.
3. SDRs can be allocated to IMF member countries to supplement their official reserves, with the amount based on their IMF quota share. They can also be used in transactions with the IMF or to represent the value of international financial contracts.
Currency convertibility refers to the ability to freely exchange one currency for another. It encourages international trade but a government may restrict it if they do not have sufficient foreign currency reserves. India has moved towards partial convertibility by allowing residents to freely convert currency for current account transactions like trade but maintains some restrictions on capital account transactions like investments.
Human resources management and planningSOURABH KUMAR
Human Resource Management, or HRM, is the practice of managing people to achieve better performance. For example, if you hire people into a business, you are looking for people who fit the company culture as they will be happier, stay longer, and be more productive than people who won't fit into the company culture.
Discussion 1QuestionWhy is it important for HR management to.docxmadlynplamondon
Discussion 1:
Question:
Why is it important for HR management to transform from being primarily administrative and operational to a more strategic contributor?
The main difference between HR management being administrative or strategic is that administrative is reactive and strategic is proactive. It is important to make the human resource management strategic for a variety of reasons such as employee retention, avoiding breaches of the law/policies, and creating a competitive edge.
Some ways to build a strategic HR management system is by pre-planning and goal setting. It consists of shaping current employees into the future leaders of the company. This shows them that they are capable of moving up in the company, which in turn will increase retention rates. Having these experienced employees would give the company a more competitive edge.
It also pre-plans for any type of sexual/race/ethnic issues that could arise to protect the company. Rather than putting rules in place after issues arrive, it builds a protocol. These types of managements are prepared for laws and base policies in line with them. This helps companies not have any breaches of the law. This also helps them deal with issues in a timely manner, since the protocol is already in place.
A strategic human resource management team will have company goals written out. This will ensure that everyone in the company will be working towards the same big picture. Every team member knows the big goal and can set personal goals to help the team. This will increase productivity and prevent people from feeling stale and underappreciated at work. The company can also find a way to celebrate the smaller goals so that employee work is credited. Appreciated employees always work better. Basically, a strategic human resource management is prepared and helps keep the company safe and running in the most productive manner.
Discussion 2:
Question:
Why is it important for HR management to transform from being primarily administrative and operational to a more strategic contributor?
In any organization Human resource department forms an important pillar for attracting, retaining and nurturing the talent thus making it a thriving force behind organization growth. For any organization people management is the core and main foray, if the HR department if properly organized makes the organization function properly and push across to reach new scaling heights. Let’s consider the companies the major innovators like Google, 3M and Facebook have reached the top rung of the ladder as technological and product innovators only because these companies have lot of talented people and management of them nurturing and keeping them motivated with all the necessary things is main challenge and they have successfully overcome it making them leaders on their respective domain.
Human Resource administration plays a key role to transform the company both operational and administrative aspect wise making a market ...
The document provides an overview of various topics related to human resource management including the HRM cycle and model, HR challenges, strategic HRM, human resource information systems (HRIS), employee handbooks, and organizational development. It discusses the outputs of quality of work life, productivity, and readiness for change. It also summarizes HR challenges such as acquisition, managing change, attrition, work-life balance, and globalization.
Human resource management involves attracting, retaining, and motivating employees to achieve organizational goals. The objectives of HRM are to effectively utilize human resources, establish organizational structure and relationships, integrate individuals, offer opportunities for advancement, and satisfy individual and group needs. The functions of HRM include planning, organizing, directing, and controlling human resources. HRM plays an important role in strategy formulation and providing competitive advantage by drawing environmental inputs, identifying strengths, formulating plans, developing aligned HR strategies, and converting plans into actions.
The document discusses the evolving role of the human resource manager. With increased competition, HR must play a more strategic role by attracting and retaining talent. This involves becoming a strategic partner, employee advocate, and change mentor. Specifically, the document outlines challenges of managing a diverse workforce and strategies for doing so effectively, such as planning mentoring programs and organizing talents strategically. It also discusses motivational approaches like gain sharing and managing executive information systems.
The document discusses the role of human resource management during an economic recession. It states that HR must make cost cuts by cancelling policies and procedures, while also identifying top talent to retain. HR communication is important to address employee fears and provide a clear outlook. Recruitment becomes more selective, focusing on critical skills. Training budgets are reduced while maintaining organizational knowledge. Compensation and benefits come under pressure to cut costs. Talent management remains important to develop new ideas to help the organization survive the recession. Overall, HR must work closely with management to navigate the challenges of a recession through strategic initiatives.
The document discusses the role of human resource management (HRM) during an economic recession. It states that during a recession, the key roles of HRM are to make cost cuts, identify top talent to retain, and provide tools to communicate with employees about job security. The recession presents opportunities for HRM to introduce new ideas and change processes to cut costs through actions like downsizing employees or freezing recruitment. HRM must also define initiatives to optimize resources, increase productivity, and ensure policies are up to date. Recessions impact employee morale, so effective communication from HRM is important to address fears and maintain performance.
This document provides an introduction to human resource management (HRM). It defines HRM as the management of people within an organization, focusing on acquiring, training, evaluating, and compensating employees. The document discusses how HRM helps organizations through strategic employee management to increase productivity, quality, and service. It also outlines key HRM functions like job analysis, recruitment and hiring, training and development, performance management, compensation and benefits, employee relations, and health and safety. Overall, the document establishes that effective HRM is important for organizational success through developing and maintaining a skilled and motivated workforce.
Human resource planning is a critical role for HR managers. It involves forecasting future staffing needs to ensure the organization has the right employees with the necessary skills. HR managers are also responsible for succession planning and designing job analyses to hire candidates when the right skills are not available internally. Additionally, HR managers monitor employee performance, provide training and development programs, design workplace policies, resolve conflicts, ensure health and safety, and reward high performance through incentives. All of these roles help HR managers support business goals and strategic planning.
The document discusses the evolving strategic role of human resource management in organizations. It outlines how HR is increasingly seen as a critical strategic partner rather than just handling clerical tasks. It emphasizes that people are the most important resource and how properly managing them can help organizations achieve extraordinary results and meet their goals. Finally, it discusses the importance of HR for attracting and retaining talent, developing employees, and helping organizations gain competitive advantage.
Human Resource Management and Its Importanceprachimba
Human Resource Management (HRM) is a crucial function within organizations that focuses on managing the people who work for the organization. Its primary objective is to maximize employee performance to achieve the organization's goals effectively.
DBA 7553, Human Resource Management 1 Course Learn.docxpoulterbarbara
DBA 7553, Human Resource Management 1
Course Learning Outcomes for Unit IV
Upon completion of this unit, students should be able to:
2. Analyze equal opportunity and the legal environment.
2.1 Explain the role that human resources has in upholding the legal responsibilities of an
organization.
2.2 Differentiate between the management of diversity and affirmative action.
3. Examine the elements of diversity in organizations.
3.1 Articulate the challenges that may occur when managing a diverse work group.
3.2 Research how the management of diversity can be improved.
Course/Unit
Learning Outcomes
Learning Activity
2.1 Unit IV Research Paper
2.2 Unit IV Research Paper
3.1
Unit Lesson
Unit Research Paper
3.2
Unit Lesson
Unit IV Research Paper
Reading Assignment
There is no reading assignment in this unit.
Unit Lesson
Today’s workplace is part of a global village. Overall, the labor force is more diverse each year. This diversity
includes the areas of ethnicity, race, religion, age, ability, gender, and sexual orientation. Therefore, well-
informed strategic human resource management must be ever aware of the changing nature of the world
around them in order to help lead their organization forward in embracing diversity. Having a sufficient mix of
diverse dimensions in any organization will serve to strengthen the foundation and overall health of that
group.
It can often be the case that human resource management must be aware of resistance to change and
stereotyping. Change with regard to anything can be difficult in the workplace. However, with regard to
diversity and the possibility of various new dimensions, it is important to remember that strategic human
resource management must plan ahead and focus on building this diverse dimension carefully. With regard to
stereotyping, this would be an assumption that what may hold for a group will automatically hold for an
individual of that group. Human resource management must look ahead to help avoid the pitfall of
stereotyping. Being aware and being communicative about new diversity dimensions in the workplace can lay
the groundwork for an effective embrace by employees.
As our society becomes more diverse, so must our organizations. In fact, many companies now understand
the power of diversity as a competitive advantage. Having a diverse set of employee perspectives can create
a stronger product or service. Embracing multi-cultural marketing can broadly expand a company’s sales.
When organizations embrace diversity in their workforce and in their operations (internally in the company
UNIT IV STUDY GUIDE
Equal Opportunity and the Legal Environment,
and Elements of Diversity in Organizations, Part II
DBA 7553, Human Resource Management 2
UNIT x STUDY GUIDE
Title
and externally with customers and vendors), a powerful foundation can be built. Efficient strategic human
resource management can help develop and .
1. Human resource management (HRM) involves managing an organization's employees and matching their skills to the organization's needs.
2. HRM functions include staffing, training, compensation, health and safety, and employee relations.
3. HRM has grown in importance due to factors like accommodating workers' needs, complex management jobs, legislation, consistency, expertise, and high labor costs. HRM helps organizations avoid mistakes, gain a competitive advantage, and achieve their goals through effective management of human resources.
Human Resource Management (MGT501) introduces basic HRM concepts. It discusses that HRM involves managing people in organizations and matching organizational needs to employee skills. The document then discusses why HRM is important, noting that it helps avoid personnel mistakes, gain competitive advantages through employees, and accommodate worker needs. It also outlines the course topics which cover areas like recruitment, training, compensation, and performance management.
HR managers face constant challenges due to rapid environmental changes. Some of the key challenges include reworking the company's mission and vision to align with strategic goals, adapting to the information and knowledge age where ideas are the most important resource, managing a globalized workforce with diverse laws and cultures, attracting and retaining top talent by creating an employer brand, adapting to changed employee expectations for empowerment beyond just compensation, enhancing supplementary services to support employee well-being and reduce stress, managing diversity to leverage diverse talents, handling corporate reorganizations smoothly, and ensuring all employee contributions are ethical and benefit society.
The document discusses the challenges of human resources management in the 21st century. It outlines strategies for change, including developing new initiatives and aligning HR with workplace changes. It also discusses the new environment of employee empowerment and conditions needed to empower employees. Finally, it discusses how HR must be reshaped to measure outcomes, develop employee skills, and champion employee needs while supporting business goals in order to help organizations and nations face global challenges through human capital.
The document discusses several challenges faced by human resource management (HRM) including personal challenges related to individual employees, organizational challenges inside the organization, and environmental challenges from outside forces. It then examines specific HRM challenges such as productivity, empowerment, brain drain, ethics and social responsibility, job insecurity, and matching people and organizations. The document also outlines strategies that HRM can use to address challenges like controlling costs, improving quality, developing capabilities, and restructuring. Finally, it discusses recent and ongoing challenges for HRM like the hybrid work culture, lack of agility, employee communication, uncertainty, and engaging employees.
Human resource planning and recruitment involves determining staffing needs to meet business demands, forecasting future human resource requirements, addressing potential labor surpluses or shortages, and employing strategies such as downsizing or using temporary workers to balance the workforce. Organizations must account for factors like retirements, skills availability, and market trends when planning human resources and consider both quantitative and qualitative approaches to demand forecasting. The goals of planning are to attract and retain talented employees who support the organization's core competencies and strategic objectives.
This document discusses employee retention in organizations. It defines employee retention as measures taken to encourage employees to remain with an organization for as long as possible. Retaining key employees is important for long-term organizational success as it ensures customer satisfaction, productivity, and preservation of institutional knowledge. The document outlines some of the challenges of employee retention, such as the costs of replacing employees and the competitive job market. It stresses the importance of identifying employees' needs and developing tailored retention strategies to keep talented workers.
Similar to Current Trends in Human Resource Management (20)
1. Current Trends in Human Resource Management:
The world of work is rapidly changing. As a part of organization, Human Resource Management (HRM) must be
prepared to deal with effects of changing world of work. For the HR people it means understanding the implications of
globalization, work-force diversity, changing skill requirements, corporate downsizing, continuous improvement
initiatives, re-engineering, the contingent work force, decentralized work sites and employee involvement. Let us
consider each of them one by one.
1. Globalization and its implications
Business today doesn’t have national boundaries – it reaches around the world. The rise of multinational corporations
places new requirements on human resource managers. The HR department needs to ensure that the appropriate mix
of employees in terms of knowledge, skills and cultural adaptability is available to handle global assignments. In order
to meet this goal, the organizations must train individuals to meet the challenges of globalization. The employees must
have working knowledge of the language and culture ( in terms of values, morals, customs and laws) of the host
country.
Human Resource Management (HRM) must also develop mechanisms that will help multicultural individuals work
together. As background, language, custom or age differences become more prevalent, there are indications that
employee conflict will increase. HRM would be required to train management to be more flexible in its practices.
Because tomorrow’s workers will come in different colors, nationalities and so on, managers will be required to change
their ways. This will necessitate managers being trained to recognize differences in workers and to appreciate and
even celebrate these differences.
2. Work-force Diversity
In the past HRM was considerably simpler because our work force was strikingly homogeneous. Today’s work force
comprises of people of different gender, age, social class sexual orientation, values, personality characteristics,
ethnicity, religion, education, language, physical appearance, martial status, lifestyle, beliefs, ideologies and
background characteristics such as geographic origin, tenure with the organization, and economic status and the list
could go on. Diversity is critically linked to the organization’s strategic direction. Where diversity flourishes, the
potential benefits from better creativity and decision making and greater innovation can be accrued to help increase
organization’s competitiveness. One means of achieving that is through the organization’s benefits package. This
includes HRM offerings that fall under the heading of the family friendly organization. A family friendly organization is
one that has flexible work schedules and provides such employee benefits such as child care. In addition to the
diversity brought by gender and nationality, HRM must be aware of the age differences that exist in today’s work
force. HRM must train people of different age groups to effectively mange and to deal with each other and to respect
the diversity of views that each offers. In situations like these a participative approach seems to work better.
3. Changing skill requirements
Recruiting and developing skilled labor is important for any company concerned about competitiveness, productivity,
quality and managing a diverse work force effectively. Skill deficiencies translate into significant losses for the
organization in terms of poor-quality work and lower productivity, increase in employee accidents and customer
complaints. Since a growing number of jobs will require more education and higher levels of language than current
ones , HRM practitioners and specialists will have to communicate this to educators and community leaders etc.
Strategic human resource planning will have to carefully weigh the skill deficiencies and shortages. HRM department
will have to devise suitable training and short term programmes to bridge the skill gaps & deficiencies.
4. Corporate downsizing
Whenever an organization attempts to delayer, it is attempting to create greater efficiency. The premise of downsizing
is to reduce the number of workers employed by the organization. HRM department has a very important role to play
in downsizing. HRM people must ensure that proper communication must take place during this time. They must
minimize the negative effects of rumors and ensure that individuals are kept informed with factual data. HRM must
also deal with actual layoff. HRM dept is key to the downsizing discussions that have to take place.
5. Continuous improvement programs
Continuous improvement programs focus on the long term well being of the organization. It is a process whereby an
organization focuses on quality and builds a better foundation to serve its customers. This often involves a company
wide initiative to improve quality and productivity. The company changes its operations to focus on the customer and
to involve workers in matters affecting them. Companies strive to improve everything that they do, from hiring quality
people, to administrative paper processing, to meeting customer needs.
Unfortunately, such initiatives are not something that can be easily implemented, nor dictated down through the many
levels in an organization. Rather, they are like an organization wide development process and the process must be
accepted and supported by top management and driven by collaborative efforts, throughout each segment in the
organization. HRM plays an important role in the implementation of continuous improvement programs. Whenever an
2. organization embarks on any improvement effort, it is introducing change into the organization. At this point
organization development initiatives dominate. Specifically, HRM must prepare individuals for the change. This
requires clear and extensive communications of why the change will occur, what is to be expected and what effect it
will have on employees.
6. Re-engineering work processes for improved productivity
Although continuous improvement initiatives are positive starts in many of our organizations, they typically focus on
ongoing incremental change. Such action is intuitively appealing – the constant and permanent search to make things
better. Yet many companies function in an environment that is dynamic- facing rapid and constant change. As a result
continuous improvement programs may not be in the best interest of the organization. The problem with them is that
they may provide a false sense of security. Ongoing incremental change avoids facing up to the possibility that what
the organization may really need is radical or quantum change. Such drastic change results in the re-engineering of
the organization.
Re-engineering occurs when more than 70% of the work processes in an organization are evaluated and altered. It
requires organizational members to rethink what work should be done, how it is to be done and how to best
implement these decisions. Re-engineering changes how organizations do their business and directly affects the
employees. Re-engineering may leave certain employees frustrated and angry and unsure of what to expect.
Accordingly HRM must have mechanisms in place for employees to get appropriate direction of what to do and what to
expect as well as assistance in dealing with the conflict that may permeate the organization. For re-engineering to
generate its benefits HRM needs to offer skill training to its employees. Whether it’s a new process, a technology
enhancement, working in teams, having more decision making authority, or the like , employees would need new skills
as a result of the re-engineering process.
8. Contingent workforce
A very substantial part of the modern day workforce are the contingent workers. Contingent workers are individuals
who are typically hired for shorter periods of time. They perform specific tasks that often require special job skills and
are employed when an organization is experiencing significant deviations in its workflow. When an organization makes
its strategic decision to employ a sizable portion of its workforce from the contingency ranks, several HRM issues come
to the forefront. These include being able to have these virtual employees available when needed, providing
scheduling options that meet their needs and making decisions about whether or not benefits will be offered to the
contingent work force.
No organization can make the transition to a contingent workforce without sufficient planning. As such, when these
strategic decisions are being made, HRM must be an active partner in these discussions. After all its HRM department’s
responsibility to locate and bring into the organization these temporary workers. As temporary workers are brought in,
HRM will also have the responsibility of quickly adapting them to the organization. HRM will also have to give some
thought to how it will attract quality temporaries.
9. Decentralized work sites
Work sites are getting more and more decentralized. Telecommuting capabilities that exist today have made it
possible for the employees to be located anywhere on the globe. With this potential, the employers no longer have to
consider locating a business near its work force. Telecommuting also offers an opportunity for a business tin a high
cost area to have its work done in an area where lower wages prevail.
Decentralized work sites also offer opportunities that may meet the needs of the diversified workforce. Those who
have family responsibilities like child care, or those who have disabilities may prefer to work in their homes rather
than travel to the organization’s facility. For HRM, decentralized work sites present a challenge. Much of that challenge
revolves around training managers in how to establish and ensure appropriate work quality and on-time completion.
Work at home may also require HRM to rethink its compensation policy. Will it pay by the hour, on a salary basis, or
by the job performed. Also, because employees in decentralized work sites are full time employees of the organization
as opposed to contingent workers, it will be organization’s responsibility to ensure health and safety of the
decentralized work force.
10. Employee involvement
For today’s organization’s to be successful, there are a number of employee involvement concepts that appear to be
accepted. These are delegation, participative management, work teams, goal setting, employee training and
empowering of employees. HRM has a significant role to play in employee involvement. What is needed is
demonstrated leadership as well as supportive management. Employees need to be trained and that’s where human
resource management has a significant role to play. Employees expected to delegate, to have decisions participatively
handled, to work in teams, or to set goals cannot do so unless they know and understand what it is that they are to
do. Empowering employees requires extensive training in all aspects of the job. Workers may need to understand how
new job design processes. They may need training in interpersonal skills to make participative and work teams
function properly.