ch 01: gaining a competitive
advantage
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week 1
chapter content
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responsibilities & roles
the value of intangible assets
meet the needs of stakeholders
recognise and capitalise on diversity of workforce
legal & ethical issues
meeting competitive challenges through hrm practices
COMPETITIVENESS a company’s ability to maintain and gain market share in its industry
HUMAN RESOURCE MANAGEMENT the policies, practices, and systems that influence
employees’ behavior, attitudes, and performance
ch 01: gaining a competitive advantage 1
, responsibilities & roles
challenges for HR managers
1. shifting focus from current operations to strategies for the future
2. preparing non-HR managers to develop and implement HR practices
ways to organise HR function
1. SHARED SERVICE MODEL a way to organise the HR function that includes centers
of expertise/excellence, service centers and business partners
2. SELF SERVICE giving employees online acces to human resources information
→ so HR managers can focus more time on employee issues and less on day-to-day tasks
3. OUTSOURCING a firm’s use of an outside organization for a broad set of services
ch 01: gaining a competitive advantage 2
, EVIDENCE-BASED HR the demonstration that HR practices have a positive influence on
the company’s key stakeholders
→ uses HR/WORKFORCE ANALYSIS (using quantitative methods to analyse big data to
understand the role of talent in executing the business strategy and achieving business goals
HR professionals need to have 9 competencies
1. hr technical expertise and practice
2. relationship management
3. consultation
4. organizational leadership and navigation
5. communications
6. global and cultural effectiveness
7. ethical practice
8. critical evaluation (interpret info to determine ROI and organizational impact)
9. business acumen (understanding business functions and metrics within the organization
and industry)
competitive challenges influencing hrm
1. sustainability → triple bottom line (3 ps)
2. globalization
3. technology
ch 01: gaining a competitive advantage 3
, 🖇 there is a shortage in STEM skills (science, tecnology, engineering and
math)
the value of intangible assets
→ human capital, customer capital, social capital + intellectual capital
increased through attracting/developing/retaining KNOWLEDGE WORKERS (employees
who contribute to the company with specialised knowledge)
benefit from knowledge through empowering employees (giving them responsibility and
authority to make decisions all aspects of prod dev or cust service)
→ a LEARNING ORGANIZATION embraces a culture of lifelong learning
adapt to change (adoption of a new idea by firm) → agility (anticipating and adapting to
change and take specific actions to support it)
maximise employee engagement (the degree to which employees are fully involved in their
work and the strength of their job and commitment)
ch 01: gaining a competitive advantage 4
, employee experience: everything that influences employees daily life inside and outside
of the workplace
employee value proposition (EVP): strategic statement that communicates company
values, how they affect employees and how employee experience reflects the values
talent management: attracting, retaining, developing and motivating highly skilled
employees and managers
nontraditional employment: use of independant contractors, freelancers, etc. → gig
economy: firms who rely primarily on nontraditional employment
meet the needs of stakeholders
→ determines company effectiveness and competitiveness
ch 01: gaining a competitive advantage 5
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