Title Human Resource Management - MGT501 Handouts.pdf ✅

Human Resource Management MGT501 Table of Contents: Page no. Lesson 1 Introduction to HRM.......................................................... 2 Lesson 2 Essentials of Management .................................................... 7 Lesson 3 Organization and Components of Organization ........................... 12 Lesson 4 People and Their Behavior ................................................... 16 Lesson 5 Individual VS. Group Behavior .............................................. 21 Lesson 6 Personnel Management to Human Resource Management ............... 28 Lesson 7 HRM in a Changing Environment .......................................... 32 Lesson 8 Work Place Diversity .......................................................... 40 Lesson 9 Functions and Environment of HRM ....................................... 45 Lesson 10 Line and Staff Aspects of HRM ............................................. 50 Lesson 11 Legal Context of HR Decisions ............................................. 53 Lesson 12 Human Resource Planning (HRP) ........................................... 57 Lesson 13 Strategic Planning and HRIS .................................................. 61 Lesson 14 Job Analysis ..................................................................... 66 Lesson 15 Job Analysis (Continued) ..................................................... 69 Lesson 16 Job Analysis (Continued) ..................................................... 71 Lesson 17 Sources of Recruitment ....................................................... 75 Lesson 18 Selection ........................................................................ 80 Lesson 19 Selection Tests .................................................................. 83 Lesson 20 Selection Process (Continued) ................................................ 88 Lesson 21 Socialization ..................................................................... 91 Lesson 22 Training and Development ................................................... 95 Lesson 23 Maximizing Learning .......................................................... 100 Lesson 24 Career Management ............................................................ 105 Lesson 25 Performance ................................................................... 110 Lesson 26 Performance Appraisal ........................................................ 113 Lesson 27 Job Evaluation and Pricing ................................................... 117 Lesson 28 Compensation System ......................................................... 121 Lesson 29 Benefits ......................................................................... 127 Lesson 30 Role of Money in Performance of Employees .............................. 132 Lesson 31 Motivation ..................................................................... 137 Lesson 32 Occupation, Health & Safety ................................................ 143 Lesson 33 Stress Management ............................................................ 146 Lesson 34 Communication in Organization ............................................. 149 Lesson 35 Trade Unions ................................................................... 154 Lesson 36 Conflict and Negotiation ...................................................... 161 Lesson 37 Power and Politics ............................................................. 165 Lesson 38 Employee Rights and Discipline ............................................. 168 Lesson 39 Discipline (Continued) ........................................................ 171 Lesson 40 Leadership ..................................................................... 177 Lesson 41 Revision (Lesson 12-21) ...................................................... 181 Lesson 42 Revision (Lesson 22-26) ....................................................... 183 Lesson 43 Revision (Lesson 27-35) ...................................................... 185 Lesson 44 International Dimensions of HRM .......................................... 188 Lesson 45 Conclusion & Review ......................................................... 193
Human Resource Management (MGT501) VU Copyright © Virtual University of Pakistan 1 his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people. T MGT - 501

Human Resource Management (MGT501) VU Copyright © Virtual University of Pakistan 3 Growing Importance of HRM The success of organizations increasingly depends on people-embodied know-how- the knowledge, skill, and abilities imbedded in an organization's members. This knowledge base is the foundation of an organization' core competencies (integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers). HRM plays important role in creating organizations and helping them survive. Our world is an organizational world. We are surrounded by organizations and we participate in them as members, employees, customers, and clients. Most of our life is spent in organization, and they supply the goods and services on which we depend to live. Organizations on the other hand depend on people, and without people, they would disappear. Factors Contributing to the Growing Importance of HRM a. Accommodation to workers' needs Workers are demanding that organizations accommodate their personal needs by instituting such programs as flexible work schedules, parental leave, child-care and elder-care assistance, and job sharing. The human resource department plays a central role in establishing and implementing policies designed to reduce the friction between organizational demands and family responsibilities. b. Increased complexity of the Manager’s job Management has become an increasingly complex and demanding job for many reasons, including foreign competition, new technology, expanding scientific information, and rapid change. Therefore, organizations frequently ask human resource managers for assistance in making strategic business decisions and in matching the distinctive competencies of the firm's human resources to the mission of the organization. Executives need assistance from the human resource department in matters of recruitment, performance evaluation, compensation, and discipline. c. Legislation and litigation The enactment of state laws has contributed enormously to the proliferation and importance of human resource functions. The record keeping and reporting requirements of the laws are so extensive that to comply with them, many human resource departments must work countless hours and often must hire additional staff. Four areas that have been influenced most by legislation include equal employment, Compensation, safety, and labor relations. An organization's failure to comply with laws regulating these areas can result in extremely costly back-pay awards, class action suits, and penalties. d. Consistency Human resource policies help to maintain consistency and equity within an organization. Consistency is particularly important in compensation and promotion decisions. When managers make compensation decisions without consulting the human resource department the salary structure tends to become very uneven and unfair promotion decisions also may be handled unfairly when the HR department does not coordinate the decision of individual manger. e. Expertise Now a days there exist sophisticated personnel activities that require special expertise. For example, researchers have developed complex procedures for making employee-selection decisions; statistical formulas that combine interviews, test scores, and application-blank information have replaced the subjective interviews traditionally used in making selection decisions. Similarly, many organizations have developed compensation systems with elaborate benefits packages to replace simple hourly pay or piece rate incentive systems f. Cost of Human Resource Human resource activities have become increasingly important because of the high cost of personal problem. The largest single expense in most organizations is labor cost, which is often considerably higher than the necessary because of such problems as absenteeism tardiness and discrimination.