WGU C202: Managing Human Capital completed 2023

WGU C202: Managing Human Capital completed 2023Human Resource Strategy Links the entire human resource function with the firm's business strategy. Business Strategy Defines how the firm will compete in its marketplace. Total Rewards The sum of all rewards employees receives in exchange for their time, efforts, and performance. The combined intrinsic and extrinsic rewards of a job. Employee Handbooks Print or online materials that document the organization's HRM policies and procedures. HRM: Human Resource Management The organizational function responsible for attracting, hiring, developing, rewarding, and retaining talent. Outsourcing Hiring an external vendor to do work for the company rather than doing it internally. Nonfinancial Compensation Rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment. Intrinsic Reward Non-monetary rewards derived from the work itself. Competitive Advantage Doing something differently from the competitor thus leading to outperformance and success. Talent Philosophy A system of beliefs about how an organization's employee should be treated. Shared Service Center Centralized routine, transaction-based HRM activities. Professional Employer Organization A company that leases employees to companies that need them.