HRMChapter1Strategies,Trends,andChallengesinHRM.pptVIP

(c) 2005 McGraw-Hill Ryerson Ltd. Canada’s Most Respected - RBC For the second consecutive year, RBC Financial Group received the highest ranking in Ipsos-Reid’s “Canada’s Most Respected Corporations” survey. Criteria for selection includes Human Resource Management practices. In full page newspaper ads, RBC attributed this success to its 69,873 employees Introduction Human resource management (HRM) is defined as the policies, practices, and systems that influence employees’ behaviour, attitudes, and performance HR and Company Performance HRM has traditionally been viewed as a expense, rather than a source of value to the organization Human capital An organization’s employees described in terms of characteristics that add economic value e.g. training, experience, insight, etc. Human resources: Valuable Rare Cannot be imitated Have no good substitutes Impact of Human Resource Management Responsibilities of HR Departments HR as a Strategic Partner HR Professional Capabilities Profile HR Responsibilities of Supervisors Many HR activities are carried out by supervisors: Help define jobs Forecast HR needs Interview and select candidates Train, coach and develop employees Appraise performance Recommend pay increases and promotions Communicate policies comply with laws Provide motivational environment Careers in HRM Environmental Trends Impacting HRM Change in the Labour Force Labour force: All the people willing and able to work Internal labour force: the organization’s workers External labour market: Individuals who are actively seeking employment An Aging Workforce Canada’s population and labour force are aging Impending shortage of workers as the labour forces in many developed countries will be shrinking Concerns related to retirement planning, retraining older workers, motivating plateaued employees, controlling health-related costs Age Distribution of Canadian Population, 2006 2016 A Diverse Workforce The Canadian labour force is growing more diverse: Empl