MHR 523 Chapter Notes - Chapter 1: Human Capital, Organizational Culture

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: Angus Yongheng Yao

Document Summary

Chapter 1: the strategic role of human resources. Human resource management (hrm) - the management of people in organizations to drive successful organizational performance and achievement of the organization"s strategic goals. Involves formulating and implementing hrm systems (recruiting/performance appraisal/compensation) that are aligned with the organization"s strategy to ensure that the workforce has the competencies and behaviours required to achieve the organization"s strategic objective. Human capital - the knowledge, education, training, skills, and expertise of an organization"s workforce. The process of scientifically analyzing manufacturing processes, reducing production costs, and compensating employees based on their performance levels. A management philosophy focusing on concern for people and productivity. Based on the theoretical assumptions of the human resources movement. Metrics - statistics used to measure activities and results ources. Metrics - statistics used to measure activities and results. Hr professionals need to be able to measure the value and impact of their organization"s human capital and hrm practices.