Human Resources Management – Cengage 15th Edition

Human Capital
The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizations workforce.
7 categories of HR functions
strategy and planning, EEO, staffing, talent management, rewards, risk management and worker protection employee and labor relations
Human Resource Management
designing formal systems in an organization to manage human talent for accomplishing organizational goals
Core Competency
a unique capability that creates high value for a company
4 types of assets to be managed
physical, financial, intellectual property and humans
Productivity
a measure of the quality and quantity of the work done – considering the cost of the resources used
Unit Labor Cost
a way to measure productivity – computed by dividing the average cost of workers by their average levels of output
Organizational Culture
the shared values and beliefs of an organization and provide them with rules for behaviour
3 Roles for HR Departments
Administrative, Operational, Strategic
Expatriate
A citizen of one country, working in a second country, and employed by an organization headquartered in the first country
The Sarbanes-Oxley (SOX) Act
Ensures that publicly traded companies follow accounting controls
SHRM
Society of Human Resource Manaagement
IPMA
International Personnel Management Association
ATD
Association for Talent Development