6.1.3 The strategic importance of HRM

• Human Resource Management (HRM) is the strategic approach to managing an organization's workforce
• HRM functions include determining workforce needs based on strategic goals.
• Recruitment involves attracting and selecting qualified candidates to fill job openings
• Creating a positive work environment is part of employee motivation
• Order the key functions of HRM:

  1️⃣ Planning

  2️⃣ Recruitment

  3️⃣ Training

  4️⃣ Motivation

  5️⃣ Performance Evaluation
• HRM planning determines workforce needs based on strategic goals.
• Human Resource Management (HRM) aligns workforce management with organizational objectives and legal requirements
• Effective HRM aligns workforce management with an organization's strategic goals
• Talent acquisition reduces recruitment costs by attracting top talent.
• Learning and development enhances employee skills and improves productivity
• Google's investment in employee engagement leads to high retention rates and a culture of innovation
• HRM provides a competitive advantage by outperforming competitors in terms of productivity, innovation, and customer satisfaction
• Referral programs are part of talent acquisition strategies in HRM.
• Companies like Google prioritize employee well-being to increase retention rates.
• Talent acquisition in HRM includes employer branding to attract top-tier talent
• Match the HRM function with its description:

  Planning ↔️ Forecasting workforce needs

  Recruitment ↔️ Attracting qualified candidates

  Training ↔️ Developing employee skills

  Motivation ↔️ Creating a positive work environment
• Effective HRM practices enhance productivity, employee retention, and foster innovation
• Order the key functions of HRM in a strategic process:

  1️⃣ Planning

  2️⃣ Recruitment

  3️⃣ Training

  4️⃣ Motivation

  5️⃣ Performance Evaluation
• What is the strategic importance of HRM in organizations?

  Aligning workforce with goals
• Effective HRM practices enhance productivity, employee retention, and foster innovation
• What are the benefits of talent acquisition as an HRM strategy?

  Reduced recruitment costs
• Learning and development enhances employee skills and improves productivity.
• What is the primary goal of performance management in HRM?

  Clear performance metrics
• Employee engagement in HRM leads to higher retention rates and increased satisfaction
• Which organization is cited as an example of effective HRM practices that lead to high engagement and retention rates?

  Google
• HRM provides a competitive advantage by effectively managing an organization's workforce.
• Match the HRM component with its benefits:

  Talent Acquisition ↔️ Reduced recruitment costs

  Learning and Development ↔️ Enhanced employee skills

  Performance Management ↔️ Clear performance metrics

  Employee Engagement ↔️ Higher retention rates
• What is the benefit of learning and development in HRM?

  Increased productivity
• Clear performance metrics from performance management improve employee motivation
• Google's focus on employee well-being and development drives innovation.
• How does effective HRM enhance organizational performance?

  Boosts productivity
• Flexible work arrangements at Netflix increased employee retention
• Match the area of HRM with its example:

  Productivity ↔️ Regular training programs at IBM

  Employee Retention ↔️ Flexible work arrangements at Netflix

  Innovation ↔️ Google's emphasis on well-being