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With modernization, organizations grew larger and the demand for human resource management kept increasing. With fordism in place human resource management emerged. Skills became fragmented and specialized as positions were highly differentiated. Organizations, therefore, updated service delivery to answer to the demands of the customers. Fordism highly supported division of labor mass production is widespread and most production companies still implement fordism principles in their administration of human resource management. Long hours and labor that is cheap are factors that are still profitable to the small manufacturing companies. However, the fordism principles cannot be as successful as before but they have highly helped in shaping the future of human resource management in most industries. There is so much improvement in technology, complexity of social environment and so many other changes. The human resource management being applied today has some traces of fordism but fordsim alone cannot be successful (Petit 220).
The concept of institutional economics is a foundation of human resource management. The neoclassical and neo-institutional schools of economics argue that the economic theories are a foundation and great implications of the human resource management theory. The macro-prudential policies provide policy makers with a set of policy instruments to complement changes. The instruments implicate the policy makers to make fine judgment on risks to financial stability and traditional concerns on monetary policy. Caution when making judgments is highly encourages by the monetary policies. The macro-prudential policies are the main components of human resource management. People are highly affected by the changing customs and changing institutions and the institutional economics are pecuniary and emphasize on collective action of
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In the contemporary market characterised with intense competition, most organisations have diverted from conventional perception of human resource as passive resource that can be manipulated to get things done.
One of the major functions of human resource management is to ensure that all decisions and activities that affect the human resources are effectively managed. This includes, recruitment of staff, ensuring that staff is highly motivated through better remuneration, provision of benefits and training among others.
Human resource management of an organization deals with a number of management decisions which have a major impact and influence on the people of the organization. The human resource management when dealt with in a strategic manner with strategic plans and well thought out and strategically devised practices, then this is referred to as Strategic Human Resource Management. The main aim of this paper is to compare and contrast the various approaches of strategic human resource management.
This transformation has had major impacts in organizational management. The concept of SHRM has evolved as a bridge between the management of organizational human resource and business strategies. The major impact has been seen through the alignment of the human resources to the performance of the firm to give it a competitive advantage.
Strategic human resource management can be defined as an efficient management process of utilizing human resources to the best extent and it aims at enhancing the organizational efficiency (Fombrun et al., 1984). It is a complex process that is continuous in nature
al with this problem, the HR department will have to make required changes in its policy, management style and strategy so that the employees are motivated to perform well and remain loyal to the company for a long period. Two theories that can be applied to an organization
The two concepts are interrelated but one elicits higher performance than the other. There was need to develop this advanced form of human resource management as a result of the changing nature of technology, economy and market. There was a need to come up with a
One element that plays a substantive role in ensuring the success of an organization is the job description, and, therefore, the paper discusses the aspect of job analysis as the cornerstone of human resource
They can improve the knowledge, skills, and increase retention of quality employees while enhancing the nonperformers ability to suit the firm’s needs (Liker & Michael, 2010). An inquiry made regarding this argument is that a company’s current
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