HR mondy C1 human resource management: an overview

LO1.1 define human resource management
HRM : utilization of individuals to achieve organizational objectives

LO 1.2 identify the human resource management functions

staffing
process through which an organization ensures that it always has the proper number of employees with the appropriate skills in the right jobs, at the right time, to achieve organizational objectives
including job analysis, human resource planning, recruitment, and selection

performance management(PM)
goal-oriented process directed toward ensuring that organizational processes are in place to maximize the productivity of employees, teams, and ultimately, the organization

human resource development(HRD)
major HRM functions consisting not only of training and development but also of individual career planning and development activities, organization development, and performance management and appraisal

compensation
direct financial compensation(core comp)
pay that a person receives in the form of wages, salary, commissions, and bonuses

indirect financial compensation(employee benefits)
all financial rewards that are not included in direct financial compensation

nonfinancial compensation
satisfaction that a person receives from the job itself or from psychological and/or physical environment in which the person works

safety and health
safety protection of employees from injuries caused by work-related accidents

health
employees\' freedom from physical or emotional illness

employee and labor relations
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human resource research /an inconspicuous function

all the functions are highly interrelated
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LO1.3 describe who performs human resource management activities

human resource professional
individual who normally acts in an advisory or staff capacity, working with other professionals to help them deal with human resources matters

line managers
individuals directly involved in accomplishing the primary purpose of the organization

HR outsourcing (HRO)
process of hiring external HR professionals to do the HR work that was previously done internally

shared service center (SSC)
a center that takes routine, transaction-based activities dispersed throughout the organization and consolidates them in one place

professional employer organization (PEO)
a company that leases employees to other businesses

LO 1.4 explain how HR serves a stategic business partner