HUMAN RESOURCE MANAGEMENT LO 11 1 Human Resource

HUMAN RESOURCE MANAGEMENT LO 11 -1 Human Resource Management (HRM) -- The process of determining human resource needs and then • recruiting, selecting, developing, motivating, evaluating, compensating and scheduling employees • to achieve organizational goals. HRM’s role has grown because of: • Increased recognition of employees as a resource. • Changes in law that rewrote old workplace practices. 11 -1

LO 11 -1 HUMAN RESOURCE MANAGEMENT 11 -2

UNCOVERING the SECRETS of HRM LO 11 -1 Things Your HR Manager Doesn’t Tell You • We’re short-staffed and under pressure too. • We’re not always going to be able to help in the way you hope. • We can help you move up the career ladder. • What you post on Facebook can get you fired. Source: Smart Money, www. smartmoney. com, accessed November 2014. 11 -3

DEVELOPING the FIRM’S ULTIMATE RESOURCE LO 11 -1 • Service and high-tech manufacturing requires employees with highly technical job skills. Such workers are scarce, • making recruiting and retention more important and more difficult. The human resource job is now the job of all managers in an organization. 11 -4

CHALLENGES in FINDING HIGH-LEVEL WORKERS LO 11 -1 • A shortage of trained workers in key areas • Worker shortage in skilled trades • An increasing number of baby boomers who delay retirement • A declining economy with fewer full-time jobs • Expanding global markets with low-wage workers • Increasing benefit demands and benefit costs • A decreased sense of employee loyalty 11 -5