"Chapter 1: Strategichuman resourcemanagementLearning objectives? On successful completion of this slide set, you will beable to:? Explain what is meant by human resource management(HRM) ? Explain the relationship between HRM andmanagement ? Describe the role of the HR manager ? Understand HRM activities performed in theorganisations ? (cont.)Learning objectives ? Explain the meaning of strategy ? Explain the meaning of strategic human resourcemanagement (SHRM) ? Describe a strategic approach to HRM ? Appreciate the strategic challenges faced by thoseworking in HRM.FastFacts ? A Gallup survey found that more than 80 per cent ofAustralian workers are not engaged and thatdisengaged workers are three times likely to take sickleaves. ? Watson Wyatt found that when US employees arehighly engaged, employee productivity increased by 26per cent, employee turnover was reduced andshareholder returns increased.Human resource management(HRM) ? The focus is on managing people within the employer– employee relationship. ? It involves the productive use of people in achievingthe: ? organisation’s strategic business objectives, and ? satisfaction of individual employee needs. ? HRM is either part of the problem or part of thesolution in gaining the productive contribution ofpeople. Best employersHuman and social capital • Employment of high performance HR practicesincreases in the value placed on HR by the seniormanagement and positively impact both human andsocial capital. • Human capital is the knowledge, skills and abilitiespresent in organisation’s human resources. • Social capital describes the strength of personalrelationships existing within an organisation thatpromotes sharing knowledge, employee motivation,team work and work commitments.HRM and management ? HRM is management, but management is more thanHRM. ? HRM deals directly with people. ? Management includes: ? marketing ? management information systems ? production ? research and development ? accounting and finance.Approaches to HRM • Instrumental (Hard) – Stresses the rational, quantitative and strategicaspects. Performance improvement andcompetitive advantage are highlighted. • Humanistic (Soft) – Emphasises the integration of HR policies andpractices with strategic business objectives butalso acknowledges employee development,collaboration, participation and trust. Which approach are you most comfortablewith? Why?Eight key roles for an HR Manager • Strategic partner – Translate business strategy into action, becomepart of the business team • Administrative expert – Using technology, rethinking and redesigningactivities • Employee advocate – Be the employees’ voice • Agent for change and cultural transformation – Catalyst for change Contd."