(Chapters 1-5, 7,8,13,14, Diversity Lecture)
7 major functions of HR
1. Recruitment and Selection
2. Appraisal and recognition
4. Employee Relations
5. Compensation and Benefits
7. Training and Development
1994 Study examining HR practices
a) Examined HRM practices and productivity levels of 968 organizations across 35 industries
b) Outcome: organizations with high HRM effectiveness out performed those with lower HRM rankings
Cost leadership and productive differentiation: What are they are what do they help an organization do?
Cost leadership- is being a low-cost provider.
Product differentiation- is having high levels of service quality.
Define Internal versus external stakeholder
External stakeholders- include patients and their families, public and private regulatory agencies, and third party payers.
Internal stakeholders-are those who operate within the organization, such as managers, professionals, and nonprofessional employees.
SHRM Model-what is included- STRATEGIC HUMAN RESOURCE MANAGEMENT (SHRM)
a) Comprehensive set of managerial activities and tasks related to developing and maintaining a qualified workforce.
b) In turn, the workforce contributes to organizational effectiveness, as defined by the organization’s strategic goals
SHRM include areas of importance such as:
a) Staffing the organization
b) Designing Jobs
c) Building teams
d) Developing skills
e) Identifying approaches to improve performance and customer service
f) Rewarding employee success
The SHRM Model: a strategic approach to human resources management (Fottleret al. 1990)
a) Internal and environmental assessment
b) Organizational mission and Corporate strategy
c) HR Strategy Formulation and Implementation
d) HR Outcomes and Performance
e) Organizational Outcomes and Performance
**What is a SWOT analysis - SWOT (strengths, weaknesses, opportunities and threats) analysis
Strengths - Strengths are the qualities that enable us to accomplish the organization’s mission. These are the basis on which continued success can be made and continued/sustained. Strengths can be either tangible or intangible
Weaknesses - Weaknesses are the qualities that prevent us from accomplishing our mission and achieving our full potential. These weaknesses deteriorate influences on the organizational success and growth. Weaknesses are the factors which do not meet the standards we feel they should meet
Opportunities - Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. Organizations can gain competitive advantage by making use of opportunities.
Threats - Threats arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business. They compound the vulnerability when they relate to the weaknesses. Threats are uncontrollable. When a threat comes, the stability and survival can be at stake. Examples of threats are - unrest among employees; ever changing technology; increasing competition leading to excess capacity, price wars and reducing industry profits; etc.
Advantages of SWOT Analysis
SWOT Analysis is instrumental in strategy formulation and selection. It is a strong tool, but it involves a great subjective element. It is best when used as a guide, and not as a prescription. Successful businesses build on their strengths, correct their weakness and protect against internal weaknesses and external threats. They also keep a watch on their overall business environment and recognize and exploit new opportunities faster than its competitors.
SWOT Analysis helps in strategic planning in following manner-
a. It is a source of information for strategic planning.
b. Builds organization’s strengths.
c. Reverse its weaknesses.