Lesson 1

Lesson 1

• 1.
  Human Resource Managementt LESSON 1 “A business’s greatest asset is their staff.”
• 2.
  The Importance ofHRM • As the business environment changes, so too must the attitudes of the businesses themselves • HR is now critical to the success of a business • Without HRM staff motivation can be lost and the business can lose its competitive edge or advantage.
• 3.
  Terminology • Competitive Advantage – An advantage over competitors • Human Resources – The Staff that make the organisation. These follow the mission statement set out by the company.
• 4.
  In class discussionquestions • What are 4 resources a business needs in order to survive? • Rank these highest to lowest • What does the statement “staff are the organisations greatest asset” mean
• 5.
  OBJECTIVES OF HRM •The main objective of HRM is to attract and maintain the best staff possible. PURPOSE OF HRM • 1. To improve productivity • 2. To improve quality of work / life • 3. Comply with legal requirements
• 6.
  FUNCTION OF HRM •1. Plan (type of people wanted) • 2. Staffing • 3. Appraisal and remuneration • 4. Rewarding and improving • 5. Establishing and maintaining relationships
• 7.
  Questions 1. Give anexample for each element in relation to the function of HRM. Is any one element for important than the other? 2. In your view, how does HRM in an organisation relate to the mission statement for an organisation. 3. Why is there a link between motivation in the workplace and HRM?