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COMMERCE 2BC3 Full Notes (Textbook & In Class)
- Course
- COMMERCE 2BC3 (COMMERCE2BC3)
- Institution
- McMaster University (mcmasteru)
Full notes from both the textbook & in class.
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HR - 2BC3Intro Info
Week 2
What is HRM?
- “Human Resource” Management
, - Summative definition of HRM: “The process of managing human talent to achieve an
organization’s objectives” (Belcourt et al., 2020)
- Textbook definition: “The policies, practices, and systems that influence employees’
behaviour, attitudes, and performance” (p. 3)
- A comprehensive definition: “The leadership and management of people within an
organization using systems, methods, processes, and procedures that enable employees to
optimize their performance and in turn their contribution to the organization and its
goals” (Schwind et al., 2019)
Figure 1.1: Human Resource Management Practices
Key Domains of HRM:
Administrative:
- Handling administrative services and transactions
- Efficiency and commitment to quality
- Requires expertise in tasks
Business Partner Services
- Developing effective HR systems
- Help the organization meet its goals for attracting, keeping, and developing
people
- HR professionals must understand the business
Strategic Partner
- Contributing to company’s strategy
- Understanding of existing and needed human resources and ways HR practices
give company a competitive advantage
, - Must understand the business, industry, and competitors
Major HRM Responsibilities
- Ensuring organizational strategy is achieved by:
- Effective job design
- Attracting employees (recruiting)
- Hiring employees (selection)
- Legal compliance
- Preparing employees for current/future jobs (talent management, training and
development)
- Supporting and evaluating employee performance
- Rewarding and motivating employees (compensation)
- Creating engaging, healthy work environment (employee & labour relations,
H&S)
Table 1.1: Responsibilities of HR Departments
Who does HRM?
- ALL managers have HR responsibility
- Hire, fire, supervise, evaluate performance, identify training needs, make pay
decisions, etc.
- Often in consultation with HR department
- HR Department/HR Professionals
, - Have specialized expertise
- lead/develop HR process
- Train, coach, support managers in these processes
- Ensure legal compliance
Professional Career in HRM
- Specialists and generalists
- CPHR/CRHA (Chartered Professional in Human Resources) designation
- Requirements
- Academic - coursework, etc.
- Knowledge exam
- Experience/professional assessment
- HRPA in Ontario works independently - CHRP, CHRL, & CHRE
HRM Trends and Challenges
Challenges Bought on by Change
- Broad trends:
1. Labor force
2. Technology
3. Globalization
- Enduring challenge to HRM: strategic human resource management
Changing Labor Force
Age Distribution of Labour Force
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