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hr management for beginners, hr management definition and principles - YouTube
Channel: Business Explained
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whether you work for a fortune 500 firm
or for a small business you have to
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address people people-related business
issues these include finding and keeping
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top talent
as a manager in the course of your work
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you have to deal with financial
material information and human resources
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the very best managers are optimizers
because they get the most out of all of
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the resources available to them
as a manager this course is designed
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just for you
i won't be covering every possible
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aspect of managing people
this course is designed for general
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managers who will have to manage people
along with other resources the course is
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an overview
not a formula or a step-by-step approach
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my intent is to focus on some key
concepts
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that will get you started on your way to
managing people effectively
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with all of this in mind let's dive into
human resources fundamentals
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suppose you were starting a brand new
organization
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you probably wouldn't have an hr
department because your organization is
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just getting underway
nevertheless as you begin to grow you
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and the managers you hire will need to
be concerned about
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five broad areas that involve people
staffing
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retention development adjustment and
managing change
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together these five broad areas
constitute
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human resource management or the hrm
system
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and much of it is administrative the
first area
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is staffing which begins by identifying
the work to be done
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and the kinds of personal
characteristics necessary to do
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the work determining the numbers of
people and the mix of skills that you'll
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need to do the work
and then recruiting selecting and
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eventually promoting qualified
candidates
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retention of your new employees is more
likely when you do three things well
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reward employees for performing their
jobs effectively
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ensure harmonious working relations
between employees
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and their managers and maintain a safe
healthy work environment
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development focuses on preserving and
enhancing your employees competence in
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their jobs
by improving their knowledge skills
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abilities and other characteristics
hr specialists call these competencies
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adjustment is concerned with compliance
with federal and state laws
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as well as with your organization's
policies for example
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through discipline and business
strategies such as cost leadership
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finally managing change is an ongoing
process
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its objective is to enhance your new
organization's ability
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to anticipate and respond to
developments in the environment
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political economic social and technical
and to enable employees at all levels to
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cope with those changes
to some these activities are the special
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responsibilities of the hr department
but they also lie within the core of
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every manager's job
in fact hr departments typically don't
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even appear
until organizations reach about a
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hundred employees
thus a broad objective of hr management
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is to allow all of your employees to
perform
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to the very best of their abilities a
special objective of the hr department
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is to help your line managers to manage
those workers more effectively
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as jack welsh the legendary former ceo
of general electric noted
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look hr should be every company's killer
app
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what could possibly be more important
than who gets hired
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developed promoted or moved out the door
business is a game and as with all games
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the team that puts the best people on
the field
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and gets them playing together wins it's
that simple
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doing things to help line managers put
the best people on the field
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helping people at all levels to grow
getting them to play well together and
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to stay
is really what administrative hr is all
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about
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imagine this you're the coach of a
basketball team
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and you're preparing to play your
archrival would you rather have your
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team play the game by taking the floor
and simply reacting to whatever your
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opponent does
if you were playing chess would you
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simply react to whatever moves your
opponent makes
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the answer in both of these situations
is an emphatic
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no rather you would most likely have a
well-developed
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game plan that game plan is known more
formally
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as a strategy in business settings
firms make decisions and choices about
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how to position themselves
for sustainable competitive advantage
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those decisions and choices define each
firm's competitive position
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every firm makes decisions about issues
such as
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customers who will it serve processes
how it will create value leaders their
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priorities
focus and dedication staff who it hires
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develops and retains vision
it's reason and purpose for existence
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those decisions define each company's
genetic code that code should be clear
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simple and understandable for it
provides lifelong direction to an
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organization
here are some examples of strategic
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visions
southwest airlines fun low fares
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coca-cola a coke within an arm's reach
general electric number one or number
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two
in what we do cnn 24-hour news
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in disneyland the happiest place on
earth
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at a broader level strategy answers
questions such as
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why should customers buy from your
company what do you do better than
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anyone else
do you offer products or services that
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no other competitor can match
do you offer the cheapest products or
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services
are your products or services the
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highest quality ones available
do you deliver your products or services
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faster than any competitor can
does your company provide the very best
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customer service
competitive strategy is about choices
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and trade-offs that firms make
it's about being different it means
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deliberately choosing a different set of
activities
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in order to deliver a unique mix of
value to the customer
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human resource strategy refers to the
decisions
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processes and choices that firms make
about how they will manage their people
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it parallels and supports the strategic
business plan
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to do that well however it requires a
focus on
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planned major changes in the
organization
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and on critical issues such as what are
the hr implications of your proposed
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strategy what constraints might you face
in implementing that strategy
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what are the implications for how you'll
manage your people
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how you'll develop them and the
leadership succession issue
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what can you do in the short term to
prepare for longer term needs
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in this approach to the strategic
management of human resources
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a firm's business strategy and its hr
strategy
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are interdependent to illustrate
consider that you're in a startup
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business in a completely new market
space
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think ebook readers versus traditional
print media
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think 3d printing think advanced
batteries and fuel cells to replace
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gasoline engines
you're trying to appeal to customers who
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want to break from the present
and also to those who want to invest in
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a product that will see the future
industry
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to survive you need a critical mass of
early users
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what does all this mean for the people
you hire
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well they should be smart technically
savvy and totally committed to your
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vision
how will you judge their performance the
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key consideration
will be their ability to generate and
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execute
breakthrough ideas how will you reward
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them
because early stage companies don't have
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the cash flow to pay high salaries
major emphasis will be on stock options
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or stock grants
what will you emphasize in training and
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development
because the major emphasis at this stage
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is on research and development
training will focus primarily on
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developing technical competencies
can you see how hr strategy parallels
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and facilitates
the more general business strategy this
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is what hr
strategy is all about
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talent management is the process
employers use
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to anticipate and meet their needs for
human capital that is people
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it's gained increasing attention in the
last decade or so
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as companies professional associations
and even governments have become
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interested in it
unfortunately there's not a common
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understanding of what the term
talent management means nor is there a
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common understanding of its aims
and scope for example there's
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disagreement among experts about whether
talent management is about
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all employees the inclusive approach or
whether it refers
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only to the talents of high potential or
high performing employees
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the exclusive approach regardless of
one's perspective
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a major challenge is to manage the
talents of employees effectively
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after they are on board there are at
least four
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broad approaches to talent management
let's consider each one of them briefly
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first is the people approach identify
star performers
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and then devote special attention to
developing them
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devote lesser attention to workhorses
high performers with little potential to
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move up
or problem children low performers with
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high potential
next is the practices approach connect
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key
hr practices those used to attract
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recruit and retain talent identify
high potential employees and manage
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leadership succession plans
develop employees through coaching and
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mentoring
and deliver performance through
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effective performance management
another approach to consider is the
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position approach
identify a b and c positions
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a positions are strategically important
and mistakes can have serious financial
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consequences
b positions are support roles and c
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positions are not strategic and can be
outsourced
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the challenge is to get a players into a
positions finally there is the strategic
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pools approach
focus on identifying pools of internal
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talent
for the purpose of succession planning
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and then devote
time and resources to ensuring that
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replacements are ready
should a need arise in practice these
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four approaches
represent a range of dilemmas that any
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talent management system has to deal
with
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most organizations use them in
combination to address
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trends such as the following global
abundance
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but local scarcity of talent fewer young
people
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and more older people many heading
rapidly towards retirement
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of course this depends on each nation's
demographic trends
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more differences across generations at
work
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as well as similarities for example the
need for respect
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support of bosses and credible
trustworthy leaders
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and more diverse remote and virtual
workforces with different attitudes
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towards work
what does all of this mean for you
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personally recognize that you are in
control of your own talent
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for example you may decide to work for
multiple organizations at the same time
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after all talent can come from anywhere
in the world
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at the same time you have more freedom
than ever to manage your own career
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as for the role of hr in talent
management it is the provider of talent
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guidance
tools and coaching to enable you to own
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responsibility
for your personal development
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the concept of diversity all the things
that make us different from each other
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is more than just a passing blip on the
corporate conscience
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diversity is not just things you can see
like age and gender
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race and ethnicity it's also the many
things you can't see
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like experience field of education
where you grew up your personality type
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and cultural influences that affect how
you think
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and what you believe diversity is not
just something a company should have or
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ought to have
it's something that virtually all
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companies already do have
many companies view it as a major
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competitive factor
and something to celebrate and to
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leverage to their advantage
as mgm resorts says we are at our most
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effective as an organization
when we are at our most inclusive
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likewise
ibm proclaims proudly we learned early
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on that fostering diversity
is not only the right thing to do for
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society but for business
as well in this video i want to share
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with you
five key trends in organizations and in
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markets
that comprise the business case for
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diversity
the first is changing labor markets you
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can be sure of this
over the next 25 years the us workforce
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will comprise more women
more immigrants more people of color and
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more
older workers globally more than 500
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million people
double the number today will legally
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work
outside their home countries in the next
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20 years
why experts point to factors such as
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conflict
natural disasters climate change and
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economic opportunism workplaces
everywhere will be characterized by more
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diversity
in every dimension next is the shift
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from manufacturing to services
today roughly 90 percent of u.s
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employees work in service based
industries
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such as banking financial services
health care
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and retail looking ahead virtually all
of the growth in new jobs
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will come from service producing
industries
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jobs in those industries require lots of
interaction with customers
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to be effective employees need to
develop the skill of
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customer literacy that is the ability
for employees to read their customers
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to understand them to anticipate and
monitor their needs
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and expectations and to respond
sensitively and appropriately
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in the service game customer literacy is
an essential skill
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and having a diverse workforce is an
important step
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towards that kind of customer literacy
another key trend is the globalization
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of markets
as organizations around the world
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compete for customers
they offer customers choices unavailable
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to them
domestically people everywhere worship
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two words cheap and available
with more options to choose from
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customers have more power
to insist that their needs and
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preferences be satisfied
to satisfy them firms have to understand
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their customers better
to do that some firms have established a
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strong local presence
such as japanese car makers using
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advertisements
that showcase local dealerships and
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satisfied owners
others have forged strategic
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international alliances
such as microsoft and nokia fiat and
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chrysler
leading global companies measure success
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in this area of cultural learning
just as they measure other business
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factors
a big trend today is the growth in
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mergers acquisitions
and international alliances the managers
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who've worked out the results of all the
mergers acquisitions
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and strategic international alliances
occurring over the past
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20 years already know what several large
studies have found
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that integrating diverse company
cultures is
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the top challenge in mergers and
acquisitions
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corporate cultures may differ in many
ways such as the customs of conducting
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business
how people are expected to behave and
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the kinds of behaviors that get rewarded
the challenge for both workers and
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managers
is to understand and capitalize on that
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diversity
as companies combine their efforts to
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offer goods and services to customers
in far-flung markets the final trend to
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consider is new business strategies that
require more teamwork
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teams mean diverse workforces because
they often draw from the most
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talented or experienced employees young
and old male and female better and less
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well-educated
members from different departments these
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are just some of the dimensions along
which
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team members may differ coordinating
those talents to develop new
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products better customer service or ways
of working more efficiently
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is a difficult yet essential aspect of
business strategy
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and it presents new kinds of management
challenges
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so think about diversity in your company
is the mix of people changing
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how is your industry changing does it
require
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closer interaction with customers what
about the actual work
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is more of it being done in teams are
you expanding into new markets
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think about the short-term and long-term
consequences
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of these changes by deeply considering
these factors
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and their implications for your company
you'll be well on your way
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towards managing diversity effectively
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you
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