Business Essentials, 12/e

Summary of Learning Objectives

Objective 10-1

1. Define human resource management, discuss its strategic significance, and explain how managers plan for their organization’s human resource needs.

Human resource management (HRM) is the set of organizational activities directed at attracting, developing, and maintaining an effective workforce. Human resources (HR) are critical for effective organizational functioning. HRM was once relegated to second-class status in many organizations, but its importance has grown dramatically in the last two decades. Its new importance stems from increased legal complexities, the recognition that HR are a valuable means for improving productivity, and the awareness today of the costs associated with poor HRM. ...