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HRMT 386 Introduction to Human Resource Management study guide Athabasca University
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HRMT 386 Introduction to Human Resource Management study guide Athabasca University
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HRMT 386 Introduction to Human ResourceManagement study guide Athabasca
University
,HRMT 386 Introduction to Human Resource Management study guide Athabasca
University
wage-rate bargain - --How much someone will be paid for the work that they agree to do.
- the first agreement of employment
capitalist economy - --private ownership of capital, allocation of resources through market
mechanisms, and profit imperative
Profit imperative - --The need to profit or fail
- puts pressure on organizations to cheapen labour
Employer's interests - --Maximize profits and profitability while controlling working conditions
Worker's interests - --making the most money for the least amount of work while being safe
social relationship - --Organizations require the cooperation from both workers and employers
to be successful
labour market - --The market where labour is bought and sold. People supply their labour and it
is in turn demanded by firms.
wage-effort bargain - --how hard employees agree to work, given the terms and conditions of
the contract
, conflict of interests - --employers seek to maximize outputs and minimize costs while
employees seek maximum wages and minimum workload
Human Resource Management - --consists of the activities managers perform to plan for,
attract, develop, and retain an effective workforce
- intended to maximize the profitability of employing workers
parts of HRM - ---Job analysis
-recruitment and selection
- skills training and orientation
Two perspectives of HRM - --1. competitive advantage depends on happy and committed
workplace
2. tight control of labour costs combined with close supervision of workers create profitability
human capital - --Employee's talents, training, experience, judgement, and intellect
- adds economic value
return on investment - --human capital grows within the organization and creates profits and
return on the investment from the employer
Unatarist perspective - --workers and employees have common interest
- HRM decisions reflect the best way to achieve common goal
Pluralist view - --conflict between employers and workers is endemic because of the diverging
interests
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