RSM100Y1 Chapter Notes - Chapter 8: Absenteeism, Sick Leave, Canada Pension Plan
Document Summary
Human resource management (hrm): set of organizational activities directed at attracting, developing, and maintaining an effective workforce. Takes place within a complex and ever-changing environmental context and is increasing being recognized for its strategic importance. Human resources are critical for effective organizational functioning. Was once relegated to second-class status in many organizations, but its importance has grown dramatically in the. New importance stems from: recognition that human resources are a valuable means for improving productivity, awareness today of the costs associated with poor hrm. Effectiveness of their hr function has a substantial impact on a firm"s bottom-line performance. Poor hr planning can result in spurts of hiring followed by layoffs- costly in terms of unemployment compensation payments, training expenses, and morale. Chief hr executive of most large businesses is a vice-president directly accountable to the ceo. Many firms are developing strategic hr plans that are integrated with other strategic planning activities.
