The changing face of the Hrm function presentation

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<ul><li> 1. The Changing Face of the HRM Function <br />A Strategic Contributor to Industry in Managing Knowledge<br /></li> <li> 2. Faces<br />The Welfare department<br />The Personnel Department<br />The Human Resource Department<br />The Learning Organisation<br />Managing Knowledge<br />Managing Human Capital<br /></li> <li> 3. An increase in a persons self-actualisation increases the chances of enhaning anothers self actualisation in a virtuous circle, but this depends on providing satisfaction of their physical, safety and social needs for the development of the higher order needs to occur. This development will not occur if organisations create lousy jobs and Maslow recognised that large organisations in particular end up with many lousy jobs (Salazar,2000)<br /></li> <li> 4. Key Challenges<br />Employer Branding<br />CSR<br />Increasing Legislation<br />Equal opportunities Vs Managing Diversity<br />Recruitment and Selection<br />Training and Development<br />Empowerment<br />Motivation and Retention<br />Total Reward<br />Any Others? <br /></li> <li> 5. Challanges in tourism &amp; hospitality<br />Complexity of the situation<br />Immediate response to customers needs<br />Avoiding lost opportunities<br />Organising work hours<br />Dealing with part-time and casual workers<br />Controlling costs of labour and labour turnover<br /></li> <li> 6. Issues Facing Tourism and Hospitality<br />Lower Quartile Salaries<br />High Labour Turnover<br />Zero Contract Hours<br />Poor training and development<br />Discrimination<br />Any Others?<br /></li> <li> 7. Managing Knowledge<br />What is Human Capital?<br />Can it be accurately measured?<br /></li> <li> 8. Since value in todays economy is increasingly driven by employees as opposed to hard assets , managing employes and their ideas is now a cornerstone of competative advantage (Zimmerman,E. (2001)<br />To effectively manage these value-driving elements, organisations must be able to accurately measure them. <br /></li> <li> 9. Capital<br />The term capital is rarely defined in and of itself, and existing definitions are vague.In the economic view it is something owned which provides ongoing services and is normally summed in units of money(Econterms,2004)<br />Human capital(HC) has many definitions. Some define HC as a commercially valuable skill?(Marcus,Ippolito,&amp; Zhang,1998.) or the attributes of a person or people that are productive in some economic context (Econterms, 2004).<br /></li> <li> 10. Others have defined HC as the KSAs(Knowledge, skills and abilities) requiredfor a particular job, which an employeegeneratesthrougheducation, training, and experience (Sturman,2001) or the time, personalskills, capabilities, experiences, and knowledge of the individual (SustainableDevelopmentIndicator Group, 1996) <br /></li> <li> 11. </li> <li> 12. Intellectual Capital<br />Intellectual capital covers many intangible elements related to an organisations ability to create value, and has three components:<br />Structual, customer, and human capital. <br />Structual capital deals largely with the technological side of the organisation, including hardware, software, databases, patents, trademarks, customer support systems, everything else that supports productivity. <br /></li> <li> 13. The results of organisational learning that has become part of a firms operations and would continue to exist independent of various employees departure.(Edvinsson &amp; Malone 1997)<br /></li> <li> 14. Customer capital<br />The contributions that customers make to service delivery, experience and consumption processes, and to the bottom line of an organisation, calculated as the worth of a companys relationship with its customers (Caplan &amp; Norton 2004)<br /></li> <li> 15. Human Capital <br />Most difficult component to define, includes companys values, culture &amp; philosophy which would cease to exist without employees.<br />In short human capital is the sum of all human capabilities that support the orgs objectives &amp; strategies and that can respond to market fluctuations. (Brooking 1996) <br /></li> <li> 16. Human Capital<br />Lev &amp; Schwartz Model 1999 March<br />The evaluation is based on the present value of the future earnings of the employees and on the following assumptions:<br /><ul><li>Direct and indirect benefits earned both in India and abroad. </li> <li> 17. Incremental earnings are based on group age. </li> <li> 18. Future earnings have been discounted at 25.32% which is being cost of capital for Infosys.</li></ul></li></ul>


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