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Below point show how HRM practices can improve the firm performance
Attract, develop and retain high quality people
Match people to the strategic and operational needs of the organization. Provide for the acquisition, development and retention of talented employees, who can deliver superior performance, productivity, flexibility, innovation, and high levels of personal customer service, and who 'fit' the culture and the strategic requirements of the organization.
Talent management
Ensure that the talented and well-motivated people required by the organization to meet present and future needs are available.
Job and work design
Provides individuals with stimulating and interesting work and gives them the autonomy and flexibility to perform these jobs well. Enhance job satisfaction and flexibility, which encourages greater performance and productivity.
Learning and development
Enlarge the skill base and develops the levels of competence required in the workforce. Encourage discretionary learning that happens when individuals actively seek to acquire the knowledge and skills that promote the organization’s objectives. Develop a climate of learning – a growth medium in which self-managed learning as well as coaching, mentoring and training flourish.
Managing knowledge and intellectual capital
Focus on organizational as well as individual learning and provide learning opportunities and opportunities to share knowledge in a systematic way. Ensure that vital stocks of knowledge are retained and improve the flow of knowledge, information and learning within the organization.
Increasing engagement, commitment and motivation
Encourage productive discretionary effort by ensuring that people are positive and interested in their jobs, that they are proud to work for the organization and want to go on working there and that they take action to achieve organizational and individual goals.
Psychological contract
Develop a positive and balanced psychological contract which provides for a continuing, harmonious relationship between the employee and the organization.
High-performance management
Develop a performance culture which encourages high-performance in such areas as productivity, quality, levels of customer service, growth, profits, and, ultimately, the delivery of increased shareholder value. Empower employees to exhibit the discretionary behaviours most closely associated with higher business performance, such as risk taking, innovation, knowledge sharing and establishing trust between managers and their team members.
Reward management
Develops motivation and job engagement by valuing people in accordance with their contribution.
Employee relations
Develops involvement practises and an employee relations climate that encourages commitment and cooperation.
Working environment – core values, leadership, work–life balance, managing diversity, secure employment
Develop ‘the big idea’ (Purcell et al,), ie a clear vision and a set of integrated values. Make the organization ‘a great place to work’.
google C. is the best EX
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The evidence could be shown through:
1. History of HRM
2. Objectives of HRM
3. The main reason behind HRM
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