Chapter 1 Human Resource Management In Organizations 2017 ✓ Solved

Chapter 1human Resource Management In Organizations 2017 Cengage

Learning Objectives: Understand human resource management and define human capital. Identify how human resource management and employees can be core competencies for organizations. Name the seven categories of HR functions. Provide an overview of four challenges facing HR today.

Explain how ethical issues in organizations affect HR management. Explain the key competencies needed by HR professionals and why certification is important.

Human resource management: Designing formal systems in an organization to manage human talent for accomplishing organizational goals.

Organizations need HRM to address worker engagement, performance, leadership development, and retention. They must manage a globalized workforce, diversity, sustainability, and social media while facilitating the sharing of employee knowledge and expertise. HRM also deals with government regulations, maintains legal compliance, and manages health care, retirement concerns, hiring, and educating.

Core competency is defined as a unique capability that creates high value for a company and differentiates an organization from its competitors. The HR department focuses on using people as a core competency.

Human capital refers to the collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organization’s workforce, originally termed intellectual capital. Employees, as human assets, increase in value when invested in with appropriate policies and programs.

HR Management Functions include HR strategy and planning, equal employment opportunity, staffing, talent management and development, rewards, risk management, worker protection, and employee and labor relations. These functions are influenced by external environmental forces: global, cultural/geographic, political, social, legal, economic, and technological.

The roles of HR Management include administrative tasks, serving as an operational and employee advocate, and implementing strategic business initiatives. Major challenges in HR management involve competition, cost pressures, globalization, a changing workforce, and the impact of technology.

Benefits of technology include improved administrative and operational efficiency, cost reduction, strategic HR planning support, enhanced recruitment, and organizational performance through data analysis.

However, ethical considerations in HRM are critical, highlighting the importance of codes of ethics, ethical behavior training, and compliance with diverse legal and cultural standards across global contexts.

Paper For Above Instructions

Human Resource Management (HRM) plays an essential role in organizations by strategically managing human capital to achieve organizational goals. This paper delves into the core components of HRM, the necessity of ethical considerations, key competencies needed by HR professionals, and the challenges faced by HR managers in today's diverse workplace.

Firstly, human capital is defined as the collective attributes of employees, including their skills, knowledge, and experience, which contribute to an organization’s performance (Becker, 1964). This intangible asset is considered a core competency as employees' expertise can provide organizations with a competitive edge. Leveraging human capital effectively differentiates companies in the increasingly competitive marketplace.

Understanding the functions of HRM is fundamental. These functions encompass staffing, training and development, performance management, compensation, and compliance with labor laws. The integration of these functions ensures that organizations not only comply with legal requirements but also motivate and retain talent (Dessler, 2017). Furthermore, HRM functions operate in a complex external environment influenced by social, political, legal, and technological factors that require constant adaptation and strategic foresight (Kew & McKeen, 2017).

Another vital aspect of HRM is its role in fostering a fair work environment. This involves creating systems that encourage employee engagement and job satisfaction, which are crucial for enhancing performance and retention (Robinson & Judge, 2013). Research indicates that engaged employees are more productive and contribute positively to the organizational culture (Bakker & Demerouti, 2008).

However, the effectiveness of HRM is often challenged by various factors. Competition and cost pressures have compelled organizations to reassess their workforce strategies, particularly in a globalized economy where talent mobility and skill shortages are prevalent (Deloitte, 2020). Additionally, the rapid advancement of technology has transformed HR processes, emphasizing the need for HR professionals to be adept at using data analytics for strategic decision-making (Tambe, Hitt, & Griffith, 2019).

Ethical issues in HRM are paramount, as organizations must navigate complex legal landscapes while adhering to ethical standards (Bowie, 2017). To mitigate risks associated with ethical breaches, organizations should implement comprehensive ethics programs that promote transparency and accountability. This includes developing a written code of ethics, conducting training sessions, and establishing confidential reporting systems (Schwartz, 2017).

Furthermore, HR professionals must possess key competencies to manage these complexities, including strategic thinking, legal knowledge, and interpersonal skills (Ulrich et al., 2013). Certification programs, such as those offered by the Society for Human Resource Management (SHRM), enhance the professional development of HR managers, ensuring they are equipped to address ethical dilemmas and organizational challenges effectively.

Training and development also play a crucial role in HRM as they directly impact employee performance and satisfaction. Organizations should invest in continuous learning to refine employees' skills and adapt to changing job market demands (Noe, 2017). This investment not only benefits the employees but also enhances the overall capabilities of the organization.

In conclusion, effective human resource management is indispensable for organizational success. The integration of human capital management with ethical practices and strategic HR functions creates a robust framework that organizations can leverage for sustainable competitive advantage. By addressing ethical issues and investing in their workforce, organizations can navigate the complexities of today's global market.

References

• Bakker, A. B., & Demerouti, E. (2008). Towards a model of work engagement. Career Development International, 13(3), 209-223.
• Becker, G. S. (1964). Human Capital. New York: Columbia University Press.
• Dessler, G. (2017). Human Resource Management (15th ed.). Pearson.
• Deloitte. (2020). 2020 Global Human Capital Trends. Retrieved from Deloitte
• Kew, J., & McKeen, C. (2017). Human Resource Management. Cengage Learning.
• Noe, R. A. (2017). Employee Training and Development (7th ed.). McGraw-Hill Education.
• Robinson, S. P., & Judge, T. A. (2013). Organizational Behavior (16th ed.). Pearson.
• Tambe, P., Hitt, L. M., & Griffith, T. L. (2019). The Technology and Human Resources: A Review. Human Resource Management Review, 29(4), 419-431.
• Ulrich, D., Brockbank, W., Johnson, D., Sandholtz, K. W., & Younger, J. (2013). HR Competencies: Mastery at the Intersection of People and Business. Society for Human Resource Management.