Introduction to Human Resource Management (HRM) – Part II

Flashcards covering essential vocabulary and key concepts from the Human Resource Management lecture.

Economic Environment

Factors in the economy that influence HRM practices, such as business cycles, litigation, and employee retention.

Productivity

Output divided by input, essential for maintaining competitiveness.

Labour productivity

Measured by GDP per hour worked, indicating how efficiently labor is utilized in production.

Technological Advances

Innovations that impact workplace practices, including automation, cybersecurity, and data analytics.

Demographics

The statistical characteristics of populations, including age, skill level, and cultural diversity affecting HRM.

Multi-generational Workforce

Workforce composed of various generations, each with unique characteristics and HR challenges.

Legal & Regulatory Constraints

Laws and regulations that govern HR practices in federally and provincially regulated industries.

CPHR/CHRP

Certified Professional in Human Resources/Certified Human Resources Professional, designations indicating professional HR qualifications.

Flexible HR Practices

Adaptations in HR programs to meet the diverse needs of an aging workforce and evolving demographics.

Inclusive workplace practices

HR strategies aimed at fostering diversity and preventing workplace issues such as harassment.