HRM Notes
What is HRM?
- Management achieves organizational goals effectively and efficiently through planning, organizing, leading, and monitoring resources while respecting individual-organization relationships.
- Organizational resources are crucial; shareholders invest in firms expecting success.
- Labor costs are significant, requiring efficient worker performance.
People as Organizational Resources
- Human Machines: Avoid overexertion to prevent breakdowns (burnout, sickness).
- Motivate and manage, but recognize limits to sustain healthy engagement.
- Update skills through retraining and coaching for continued effectiveness.
- Predict human behavior to optimize investment returns.
Four Key Management Functions
- Planning: Determine production goals and required personnel types.
- Align staff with organizational objectives (e.g., clothing store vs. computer company).
- Organizing: Structure the work environment for efficiency.
- Organize factories to execute plans.
- Leading: Motivate workers for improved performance.
- Monitoring: Assess performance for greater efficiency.
Team Effort
- HRM is a team effort, with supervisors playing a crucial role.
- Supervisors lead teams and need HRM skills.
- HR provides skills for supervisors
Direct Impact of HR
- HRM's direct impacts include team building, shaping company culture and employer brand, conducting surveys, and navigating social law.
- Team Building: HR organizes activities with specific learning objectives.
- Company Culture & Employer Brand (EB): Communicating company values to attract aligned employees.
Social Law
- Supervisors must understand social law to avoid legal missteps.
- Important to check the legality of actions.
Role of the Manager
- HR can educate managers to prevent errors and promote better leadership.
- HR tries to diminish damages and educate managers
- Operational HR tasks include job interviews, performance monitoring, and motivational leadership.
HR Tasks by Employees
- Employees can also perform HR tasks by supporting colleagues.
- HR practices involve everyone in the organization.
A Good HR
- A good HR must be EFFECTIVE, EFFICIENT, and CALCULATED
Effective
- Deliver on promises to build trust.
- Act on commitments to foster growth.
Efficient
- Stay within budget and use resources wisely.
Calculated
- Develop business cases for HR programs, demonstrating return on investment (ROI).
- Use sciences and economics to prove the return on investment
Why Organizational Goals Are Important
- Shareholders expect profits exceeding bank interest rates.
Managing Humans
- HR involves hard decisions; supervisors need skills to lead teams effectively.
Hard Decisions
- Restructuring can lead to difficult decisions like firing employees due to economic turmoil.
- Terminating hits the lives and emotions of the staff hard
Empathy
- Empathy >< misplaced empathy
HR is not a charity
- HR focuses on fulfillment and contributing to organizational goals, not just happiness.
- The priority of HR is the business, but they know that if you feel happier in the business, you’ll work better
- HR is more a means than an end