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Summary OBS 114: Unit 9: Chapter 8
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This document contains a summary of Chapter 1 of the textbook: Fundamentals of Business Management
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OBS 114Fundamentals of business management
Chapter 8: Basics of Human Resource, Finance and Marketing
1. STRATEGIC HUMAN RESOURCE MANAGEMENT
Introduction Human resource management:
All activities managers engage in to
o attract/retain employees
o ensure they perform at high level
o contribute to accomplishment of organisational goals
HRM system components:
1. Recruitment and selection
2. Training and development
3. Performance appraisal and feedback
4. Pay and benefits
5. Labour relations
Strategic HRM:
Process by which managers design components of HRM
system to be consistent with:
o each other
o other elements of organisational architecture
o organisation’s strategy and goals
Overview of 1. Recruitment and selection
component Used to attract/hire new employees
s that have the abilities/skills/experiences to help the
organisation achieve its goals
2. Training and development
Used to ensure organisational members develop
skills/abilities
to perform their jobs effectively
3. Performance appraisal and feedback
Gives managers info they need to make good HR
decisions
Serves a developmental purpose by giving employees
valuable info about their strengths/ weaknesses
4. Pay and benefits
Rewards increase employees’ motivation to continue high
levels of contribution to the organisation
More likely to stay with organisation
Can fill positions with talented workers
5. Labour relations
Steps managers take to maintain/develop good relationships
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2. THE LEGAL ENVIRONMENT OF HRM
Yea Law Description
r
196 Equal Pay Act Requires men + women be paid equally for
3 equal work
196 Title VII of the Prohibits discrimination in employment decisions
4 Civil Rights Act
196 Age Prohibits discrimination against workers older
7 discrimination in than 40.
Employment Act restricts mandatory retirement
197 Pregnancy Prohibits discrimination against pregnancy,
8 discrimination childbirth, and related decisions
Act
199 Americans with Prohibits discrimination against people with
0 disabilities Act disabilities
Requires that employers make accommodation
199 Civil rights Act Prohibits discrimination
1 allows awarding of punitive/ compensatory
damages
199 Family and Requires that employers provide 12 weeks
3 medical leave unpaid leave for medical/ family reasons
Act
3. RECRUITMENT AND SELECTION
Definitions Recruitment:
Activities managers engage in to develop a pool of
qualified candidates
Selection:
Process managers use to determine:
relative qualifications of job applicants and
their potential for performing well
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