This course examines human resource management (HRM) and employment relations (ER) from a strategic perspective embedded in a complex and evolving organizational system. To be effective, students must understand how different organizational strategies interface with the entire set of HR/ER practices put in place. This approach also requires an ability to connect business functions, governance, organizational metrics and financial considerations with investments in the broader HR/ER system. The goal of this course is to build business acumen by providing a foundational understanding of the components of a strategic and proactive HR/ER system. Through active learning, this course will encourage the development of analytical skills, personal competencies, and in-depth understanding of how various HRM and ER parts work together to shape organizational success. Students are more effective in their roles when they understand organizational strategic typologies, business functions, and governance structures that can affect the structure and implementation of the HRM/ER functions. Other topics include vertical and horizontal integration of the supply chain, and mergers and acquisitions, both of which are important to the work context. Basic finance and accounting concepts relevant to HRM/ER such as profit and loss statements, balance sheets, and cash flow enable students to understand how managers and leaders make resource decisions. Students gain credibility with other organizational decision makers by better understanding concepts such as earnings per share, return on assets (ROA) and return on investment (ROI). Understanding the time value of money and implications for decisions regarding investments in people enables students to be more effective in decision-making roles. The goal is to provide students with the fundamentals of the business context as relevant to their roles as HRM and ER professionals. The use of metrics and measures to provide feedback to the organization and individual employees will be examined. The criticality of understanding appropriate metrics and the importance of finding or creating valid, reliable, and bias-free metrics is explored. Learning how to create balanced score cards and associated HRM/ER scorecards can provide actionable insight to all organizational stakeholders. Finally, exposure to conceptual frameworks related to ethics and risk assessment will enable students to apply such frameworks in an organizational context. The goal is to have HRM and ER students develop a deep understanding of perspectives, practices, and tools that connect HRM and ER policies and practices to an organization's context and strategy.
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