STRATEGIC HUMAN RESOURCE MANAGEMENT (Lecture Notes)

INTRO TO Human Resource Management (HRM)

- HR important role to meet Industry 4.0 requirement

- Talent: Referring to employees in a strategic meaning, Skills that you have
- Training is important in org, appraising is important in terms of performance
- Why we work? For money
- Dealing with labour relations, managing people
- Health and safety are important, also keeping the organisation afloat
- People are dealing we people, fairness concern, equal rights

- The things managers must have

 - Not all companies have HR,

-Shared Services: HR comes into function into getting into transactional, recruitment or outsourced
-Corporate HR Team
- Embedded HR Team, normally huge projects running for a year, taking care of the matters HR related
-Centres of expertise: Expert in certain things, labour relations, compensation
- Whistle blower practice: Normally done for the superior
 - Selection and Hiring: Recruitment

- Training & Development: Upscaling and rescaling, crucial with the current business landscape,
virtual landscape is here to stay

- Performance management appraisal: What determines your pay raise, how to be strategically
aligned with your business goals

- Compensation & Benefits

- Fairness: Equal employment opportunity, discuss beyond gender equality

Why is it important to know?

- Avoid personnel mistakes: Avoid mismanaging people, avoid people leaving the company > Lack
of understanding
- Improve profits and performance: Reduce cost and promote profits, cost centre inccur costs
- Don’t want to hire people wrongly
- Have a high turnover in the company
- Cases can be filled against you
- Lack of motivation
- OSHA is heavily on manufacturing industry
- Employees thinks salaries are unfair, make employees understand
- Give appropriate training
- Commit any unfair labour practices> no proper permit, accommodation, abusing and
discrimination in hiring. Can be general ethics
- Must be able to create value > Help to achieve your strategic goals

- Staff manager (HR people) also known as task manager

 - To meet the business goal
-

Changes in How we Work (3 concepts)

- Ethics, still have to look at human nature
- Profit is the primary concern
- Strategic Management (Long-run)
- Internal SWOT
- Key is maintaining competitive advantage
- HR management comes in here
- Capability defined by human capacity/capability
Vision: Inspiration/Aspiration
Mission: What to do, intention to provide the service/business
Values: how you do the business
1. Corp strategy: Look into biz portfolio
- Strategy Map: Tool to use such as diagrams to come up with the decision framework
- HR Scorecard
- Digital Dashboards
-Employee is also seen as a customer
- HC is human capital.
- EBITDA: Earning
- Matches to the company’s overall strategy
- IRA: Internal Revenue

E.g : Income tax, SOCSO