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Human Resource Management: Gaining a Competitive Advantage

Human Resource Management: Gaining a Competitive Advantage.

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Human Resource Management: Gaining a Competitive Advantage

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  1. Human Resource Management: Gaining a Competitive Advantage

  2. 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

  3. 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 .

  4. Human Resource Management Practices

  5. Responsibilities of HR Departments • Employment and Recruiting • Training and Development • Compensation • Benefits • Employee Services • Employee and Community Relations • Personnel Records • Health and Safety • Strategic Planning

  6. HR as a Business with 3 Product Lines

  7. 6 Competencies for the HR Profession

  8. 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.

  9. 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)

  10. Competitive Challenges Influencing Human Resource Management • Challenge of Sustainability • The Global challenge • The Technology challenge

  11. Top 10 Knowledge and skills Expected to increase in Importance

  12. 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 • Pride in employer • Satisfaction with employer • Satisfaction with the job • Opportunity to perform challenging work • Recognition and positive feedback from contributions • Personal support from manager • Effort above and beyond the minimum • Understanding the link between one’s job and the company’s mission • Prospects for future growth with the company • Intention to stay with the company

  13. 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.

  14. 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?

  15. 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.

  16. 4 Principles of Ethical Companies • Successful companies, in their relationships with customers, vendors, and clients, emphasize mutual benefits. • Employees assume responsibility for the actions of the company. • Companies have a sense of purpose or vision the employees value and use in their day-to-day work. • They emphasize fairness; another person’s interests count as much as their own.

  17. 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

  18. 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

  19. High-Performance Work Systems • Work in Teams - Virtual Teams • Changes in Skill Requirements • Working in Partnerships. • Changes in Company Structure and Reporting Relationships. • Increased Use and Availability of e-HRM and Human Resource Information Systems.

  20. Good Luck With the Semester!

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