HRM’s Role in Managing Human Capital
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
HRM’s Role in Managing Human Capital
Employees are Human Capital
A firm’s human resources are the people in an organization that are crucial to its performance and the quality of work life within it. Unlike computers, human beings are assets that have the potential to grow and develop, to increase depth, complexity, and capacity over time.
Human resource management can be defined as designing management systems to ensure that human talent is used effectively and efficiently to accomplish organizational objectives. Managers and leaders should focus on investing and developing their human resources who have the capacity to make significant contributions to the organization’s overall mission.
Many organizations have noticed the importance of continuously training their employees and offering educational incentive programs to help keep employees up-to-date in their fields because people actually can get worse at their jobs over time. Performance can be enhanced if an employee learns new ways of conceptualizing complex situations and deciphering abstract information. An employee should have knowledge of new research and advancements in his or her respective field to adapt and overcome any organizational change.
Through HR planning, managers anticipate the future supply of and demand for employees and the nature of workforce issues, including the retention of employees. These factors are used when recruiting applicants for job openings. Recruiting and retaining the “best” employees have been difficult tasks for most HR managers. The “best” employees are not necessarily the most qualified individuals (e.g., the most educated or with the most work experience); rather it is the individuals who provide value to an organization, who complement the organization, who understand and embrace the organization’s mission, and who fit the culture of the organization. This quandary is a result of a number of different variables such as: job satisfaction, organizational commitment, job performance, and motivation.
By performing at higher levels and being productive, an employee starts creating value for an organization. Most employees are evaluated by the value they create. When employees feel appreciated, they tend to perform at higher levels, producing more value.
Unfortunately, most organizations are unable to “indulge” their employees and as a result, there are employees still all over the world who feel neglected and inundated. Interestingly enough, Schwartz, Jones, and McCarthy (2010) explain that:
Only 38 percent of employees worldwide believe their senior managers are genuinely interested in their well-being. More than 50 percent feel they’re treated as if they don’t matter at all or that they’re just another part of the organization to be managed. Only one out of ten employees feel they’re treated as vital corporate assets (p. 162).
With employees all over the world feeling like they “don’t matter” in their organizations, it is important for upper level administrators to continuously develop their leadership strategies. Furthermore, with organizations constantly evolving, strategic human resource management is the optimum way to enhance performance levels. At IBM, for example, a thousand software developers working in different time zones have been given the flexibility to decide when they work. Different strategies should be implemented in organizations all over the world to help “humanize” the workplace.
Reference: Schwartz, T., Jones, J., & McCarty, C. (2010). The Way We’re Working Isn’t Working. New York, NY: Free Press.
In this course we will focus on human resources with steps into the future. We will experience the transition from workplaces where employees feel neglected and inundated, to workplaces where employees are valued and given the opportunity to grow, develop and become human capital. And as human capital, they are assets that contribute to their organization’s success.
To begin your study of HRM, view this video giving an overview of the challenging Human Capital Management/HR Management field.
Now, continue by viewing the following two tutorials: Key Functions of HRM and HRM Fundamentals.
Also, read this article: Overcoming Top Myths In HR
Today’s HR professionals have the opportunity to contribute to the bottom line of an organization. In high-performing companies, each element of the HR system is designed to reflect best practice and to maximize employee performance. The different parts of the HR system are strongly aligned with company goals.
Workplace Diversity
Read this article: Workforce Diversity
The concept of diversity is framed in a number of ways–as economic payback (people who have previously been excluded from the workplace are typically more reliant on social service programs) and as social responsibility (improving the quality of life for disenfranchised groups of people). You should identify and process each of the diversity frameworks and the potential impact they can have on human capital management and, therefore, business success.
Employment Law
There’s been an explosion in the number of employee lawsuits in the U.S. during the past few years, and manager mistakes are at the center of many of them. That’s why it’s important to know at least the basics of employment law. In the following video, Business Management Daily’s editorial director Pat DiDomenico describes the top five manager mistakes that cause lawsuits:
Also, see the U.S. EEOC webpage for Information for Employers. Then view the EEOC webpage for Information for Employees.
Module 1 Wrap-Up:
In Module 1 you had the opportunity to learn about Human Capital Management (HCM), and the role of Human Resource Management (HRM) professionals in the HCM process. The HCM approach perceives employees as assets (human capital) whose current value can be measured and whose future value can be enhanced through investment. Also included were strategies for HR management and planning, diversity, and the legal framework for equal employment.
Now that you have completed the Background portion of Module 1, be sure that you also finish the graded assignments in Module 1; don’t miss completing and submitting your Case 1, preparing for and successfully passing the SLP 1 Quiz, and contributing to the discussion forum with the rest of your peers.
We hope that you recognize the importance of HRM in organizations. The field has changed over the years and today more than ever there is a key role HR professionals play in an organization’s success.
Source: Human Resource Management, anonymous author. Provided by Saylor Academy. Located at https://learn.saylor.org/course/bus301. License: CC BY 3.0.
Module 1 – Case
Case Assignment
Write ten short journal entries (at least one-half page each). In each entry highlight:
- One specific topic/issue related to Module 1 that you would like to write about in this journal entry.
- Discuss your reactions to what you learned so far concerning that specific topic/issue as it relates to human capital management. Cite at least one of your module sources.
- Discuss what more you would like to learn concerning that topic/issue and why.
- List one valid source not listed in this module where you could learn more about the specific topic/issue. Look to the Trident online library and/or the internet for valid sources. (The goal is to broaden your resource list, so do not list the same specific source more than once across your journal entries.)
Assignment Expectations
Your submission will be assessed on:
The criteria found in the grading rubric for this assignment:
- Meets assignment requirements
- Critical thinking
- Writing and assignment organization
- Use of sources and mechanics
- Timeliness of assignment
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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