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M4 Part A: Introduction to Human Resource Management (HR in strategic…
M4 Part A: Introduction to Human Resource Management
HRM concepts
p.237
5 Higher Work & life satisfaction from (Guest):
job design
employee participation and open communication
equal opportunities
family - friendly practices
anti-harassment practices
Effective people management (Pfeffer):
employment security
rigorous selection
self-managed teams and decentralized decision making
comparatively high compensation linked to individual and organizational performance
extensive training
reduced status distinctions
sharing of financial and performance information
Motivating and Empowering Employees (Herzberg) p.238
motivator factors: Go beyond the minimum: work content - Achievement, recognition, responsibility etc.
hygiene factors: Minimum level required: work context, low noise, aircon etc., salary
Functions of HRM p.240
Needs identification - biz neds
Recruitment
Selection
Induction
Development
Exit
Attract workers with the right knowledge and skills
Empowering workers to explore and use their abilities
Making business sense of people and management issues p. 242
Human sigma
fully engaged employees
procedures, workflows and structures to deal with customers
Corporate Culture
Defined by vision mission, shared beliefs and values that are developed within and organisation
Cultural Analysis:
p.245
Shared values
Critical part in linking people
Common assumptions
assumptions members share as a result of their joint experiences
Observable culture:
unique stories, ceremonies and corporate rituals
Functions of Organizational Culture for its Members
p.246
External Adaptation
reaching goals and dealing with outsiders
Internal integration
creation of collective identity and finding ways of matching methods of working and living together
Intellectual Capital
External relationships combining it with human capital
Human Capital
Skills
Training
Education
Experience
Values of the workforce
=> People who provide value
=> aligning individual capabilities with the strategic business needs
Corporate social capital
Unique combination of intellectual capital, financial soundness and ability to alliance with and absorb knowledge from a network of external partners
Brokerage
Connection between different teams that allows collaboration betw teams
Group cohesion
contentedness of individuals within a group -> relates to how effective the team is
Relation Capital
organisations external relationships
Structural Capital
Orgas internal procedures and structures
Sensemaking
p.248
How complete work
Narrative approach
HR in strategic management p. 249
Attracting quality workforce
The recruiting process:
advise job vacancy
preliminary contact with potential candidates
initial screening to create a pool
External vs. Internal Recruitment p.250
Realistic Job Previews
Employee value proposition
Balance of what employees give and take
Maslow hierachy of needs p.252
Talent management
Workforce planning
Recruiting
Applicant tracking
On boarding
Performance management
Remuneration
Workforce development
Career and succession planning
Future HRM
Red world: innovation is the primary source of competitive advantage
Blue world: corporations rule the world, eg. Amazon
Green world: stakeholder needs are balanced and corporate social responsibility rules
Yellow world: displaces the corporate busines world with social enterprises
Maslow hierarchy of needs