The objective of Human Resources (HR's raison d'etre) is
to maximize the return oninvestment from the organization's human capital
"Human resource management aims to improve the productive contribution of individuals while simultaneously attempting to attain other societal and individualemployee objectives." Schwind, Das & Wagar (2005)In reality, human resources deals with two different worlds1) Non-Unionized - Where management has the control, and2) Unionized - Where there is shared control through a collective agreement -Management and a union negotiate a collective agreement with respect to terms andconditions of employment. The Union represents employees to management. (That is theUnion speaks for employees, both collectively and individually)Collective Agreements - Can cover any and all terms and conditions of employment.Collective agreements become "the Bible," the code and are binding in law. - Disputes of the collective agreement are resolved by arbitration.
Human resources in political economy and social sciences
Modern analysis emphasizes that human beings are not
, but are creative and social beings that make contributions beyond 'labor' to a society andto civilization. The broad term human capital has evolved to contain some of thiscomplexity, and in micro-economics the term "firm-specific human capital" has come torepresent a meaning of the term "human resources."Advocating the central role of "human resources" or human capital in enterprises andsocieties has been a traditional role of socialist parties, who claim that value is primarilycreated by their activity, and accordingly justify a larger claim of profits or relief fromthese enterprises or societies. Critics say this is just a bargaining tactic which grew out of various practices of medieval European guilds into the modern trade union and collective bargaining unit.
A contrary view, common to Workforce planning
Strategic Workforce Planning
involves analyzing and forecasting the talent thatcompanies need to execute their business strategy, proactively rather than reactively, it isa critical strategic activity, enabling the organization to identify, develop and sustain theworkforce skills it needs to successfully accomplish its strategic intent whilst balancingcareer and lifestyle goals of its employees.Strategic Workforce Planning is a relatively new management process that is being usedincreasingly to help control labor costs, assess talent needs, make informed businessdecisions, and assess talent market risks as part of overall enterprise risk management.Strategic workforce planning is aimed at helping companies make sure they have theright people in the right place at the right time and at the right price