CH1: Strategies, Trends, and Opportunities for HRM

Describe ‘ Human Capital’ in term of HR

Its an organization’s employees, described in terms of their training, experience, judgment, intelligence, relationships, and insight

Why are people so valuable?

Human capital is rare, cannot be imitated, and have no good substitutes.

Define HRM

Human resource management consists of an organization’s “people practices”—the policies, practices, and systems that influence employees’ behaviours, attitudes, and performance.

What is the impact of HRM

Influences who works for the organization ( types of capital) and employees’ level of engagement ( motivation & effort) . These factors influences the Organizational performance in terms of quality, profitability and customer experience.

Explain ‘Evidence- based HR’

Uses credible data from multiple sources to make informed HR decisions that support company goals and demonstrate HR’s impact on performance, profit, and stakeholders.

What is organizational agility and how does HR support change management?

Organizational agility… is a company’s ability to sense and respond to change by adapting intentionally.

HR helps manage change by… applying knowledge of human behavior, communication, and performance tools

What role does HR play in improving productivity?

• Investing in employee skills and training

• Supporting managers in measuring performance

• Encouraging use of new tools and technology

• Aligning HR practices with efficiency goals

Productivity… Refers to the relationship between an organization’s outputs and its input.

Canada VS USA…Canada’s productivity lags behind the U.S., mainly due to smaller, less productive small/medium businesses.

How does HR support mergers and acquisitions?

HR manages people-related challenges in M&A, such as culture clash, communication, and integration.

What is the ‘ENVIRONMENTAL’ factor of the ESG concerned with? 

•What is the business doing to reduce its impact the environment?

What is the ‘SOCIAL’ factor of the ESG concerned with?

The level of importance & focus does the business place on stakeholders

What is the ‘Governance’ factor of ESG Concerned with?

It focuses on how the business operates internally in terms of policies and controls

Name the various Responsibilities of the HR department

Administrative - Business partner services - Strategic partner

Explain the ‘administrative’ responsibilities in HR

Handling administrative services and transactions with efficiency and quality 

Explain the responsibilities accompanying  ‘Business partner ’ role in HR

They strive to develop effective HR systems that help in meeting the organizations goals for attracting keeping and developing people.

Explain the responsibilities  accompanying ‘Strategic partner’ role in HR

Contributing to the company’s strategy by understanding human resources and how HR practices provide a competitive advantage.

According to CPHR Canada’s Code of Ethics, to whom do HR professionals have duties?

the public, clients & employers, and to the profession.

What is the 'Employee Experience' (EX)?

It is the set of perceptions employees have about their experiences at work in response to interactions with the organization.

Explain the results of McKinsey & Co. Findings on the : The Benefit of EX

There are significant increases in employee engagement, company loyalty, and performance.

What are the HR Responsibilities of Supervisors and Managers?

• They help determine what kinds of work needs to be done and in what quantities

• Additionally they help: hire, guide, support, and develop

Who are the key internal stakeholders and why?

WHO: Supervisors, managers, and executive leadership

WHY: HR function is more effective when it engages in activities that meet stakeholder needs and expectations

Who are the four generations in the work for right now?

Generations z, Generation x, millennials, and baby boomers

Reasons for why the Labour force is changing?

• Aging of the workforce- Fewer people entering than exiting the labour force

• Multi-generational workforce

• Diversity- Immigration increases diversity and labour force growth

• Knowledge workers

Educational Attainment of The general population & Indigenous labour force

Generally, there seems to be a increase in university and some post- secondary education attainment.

In terms of Indigenous peoples there had been a increase in post-secondary education more so in the women. 

HR Careers

• Careers in HRM may involve specialized work work as generalists.

• Provincial/territorial associations manage the certification process and award professional designations.

• They also value ethics and require all to complete the ‘ good character attestation’

Technological Changes in HR

HRIS, analytics, and AI

HRIS

a computer system acquires, stores, and distributes HR information

Analytics

using quantitative and scientific methods to analyze data to understand the role of talent in executing the business strategy and achieving business goals.

A.I

Technology that mimics human thinking—continuum of intelligence

The levels of AI usage

Assisted: humans are assisted/helped by technology

Augmented: Combines human strengths and machine capabilities

Autonomous: in which technology functions independently