Principles of Management Lecture 5 - Human Resource Management

Activities that managers engage in to attract and retain employees and to ensure that they perform at a high level and contribute to the accomplishment of organizational goals.

The process by which managers design the components of an HRM system to be consistent with each other, with other elements of organizational architecture, and with the organization’s strategy and goals.

• Recruitment and selection
• Training and development
• Performance appraisal and feedback
• Pay and benefits
• Labor relations

Each component of an HRM system influences the others, and all five must fit together.

Activities to develop a pool of candidates for open positions.

The process to determine the qualifications of job applicants and their potential for performing well in a particular job.

Human resource planning  → Determine recruitment and selection needs ←   Job analysis

Activities that managers engage in to forecast their current and future needs for human resources.

Demand forecasts
- qualifications and numbers of employees the firm will need
- goals and strategies

Supply forecasts
- availability and qualifications of current employees now and in the future
- qualified workers in the market