HRM 2600 Chapter Notes - Chapter 1: Personal Information Protection And Electronic Documents Act, Six Sigma, Professional Employer Organization
10 Feb 2015
School
Department
Course
Professor
Document Summary
Chapter 1: the world of human resources management. The terms human resources and human capital imply that people drive the performance of their organizations, along with other resources, such as money, materials, and information. This is the essence of human resources management (hrm). Human resources management (hrm) is the process of managing human talent to achieve an organization"s objectives. Hrm involves many activities such as analyzing a company"s competitive environment and designing jobs so that a firm"s strategy can be successfully implemented to beat the competition. This, in turn, requires identifying, recruiting, and selecting the right people for those jobs; training, motivating, and appraising these people; developing competitive compensation policies to retain them; and preparing them to lead the organization in the future. Achieving success increasingly depends on an organization"s ability to manage talent, or human capital. The term human capital describes the economic value of employees" knowledge, skills, and capabilities.
