HR Management - created from Mind Map

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Human capital management

Definition: formal systems for managing people at worl

Strategic Impact

asset

value

invests

Retention Policy

skills, knowledge

training, skills, education

Creates value

Is rare

Is difficult to imitate

Is organized

HR Planning Process

to decrease costs or provide something unique to customers

individual uniqueness; skills, knowledge, and abilities of people are not equally available to all competitors

capabilities and contributions cannot be copied by others

talents can be combined together and be used for future assignments

Planning

Programming

Evaluating

where the company is headed, in what businesses it plans to be, what future growth is expected.

Demand forecasts

Labor Supply forecasts

determining how many and what type of people are needed

estimates of how many and what types of employees the organization will actually have.

organization conducts recruitment, training, and layoffs. Company's plans are implemented.

done to determine whether they are producing the results needed to contribute to the organization's business plans