...Project Human Resources 560 Illia Kifa Sean Farrell The Future of Human Resources 1. Role of HR 2. HR Competencies 3. Future challenges for HR 4. Transforming process and critical success factors Introduction There has been some very important changes in the economy and business in the past two decades. The economies are merging creating a global market. The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources. The role of HR has become more vital and important for each organization. It has a broader range of responsibilities and influence on the business path of an organization. Human Resources is switching from administrative and operational role to a strategic role, which makes a bigger impact on the economical well being of a company. HR should not be defined by what it does but by what it delivers – results that enrich the organization’s value to customers, investors, employees. David Ulrich 1. Traditionally HR is viewed that it performs basic functions or roles for an organizations: - Administrative role has been heavily oriented...
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...Human Resource Management is the process of “getting keeping, and growing good people.” (Mike Losey, 2005) As people look to the past of Human Resource Management, they must also look at the changes needed to perform the duties in the future. Technology, society, and business have changed over time causing the duties of a Human Resource Manager to change. In the past, many employees and companies shared a common loyalty for each other that made the staff members dedicate their lives to the same company. That has now changed with people moving from company to company in search of experience and the challenge to improve their resume. As the position moves into the future, each manager needs to realize that they have to be able to wear many different hats. In order to obtain qualified employees, an HR Manager should have an understanding of every aspect of the company. The position of a Human Resource Manager is always revolving into a new aspect of the company. In order to progress into the future of HR, professionals must look into the past. This will allow companies to anticipate issues that may arise and avoid outcomes that were produced in the past. As companies move into the future, they need to create a network of recruiting that does not force them to weed through tons of applicants. In the past, access to qualified individuals has been limited to a local area, but the future offers technology that opens the door to applicants worldwide. Using the older method of recruiting...
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...Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.4, No.18, 2013 www.iiste.org Problem with Human Resource Accounting and A Possible Solution Md. Mustafizur Rahaman1* Md. Amzad Hossain2 Tabassum Akter3 1. Lecturer, Department of Accounting, Bangladesh University of Business & Technology (BUBT), Mirpur-2, Dhaka-1216, Bangladesh 2. Lecturer, Department of Business Administration, East West University, Plot No-A/2, Jahurul Islam City, Aftabnagar Main Rd, Dhaka 1219, Bangladesh 3. Lecturer, Department of Business Administration, Prime University, Dar-Us-Salam Rd, Dhaka 1216, Bangladesh * E-mail of the corresponding author: mustafizmamun09@gmail.com Abstract The idea of Human Resource Accounting (HRA) has been a debatable issue by academicians, accountants and standards setters universally. This study critically assesses the concept of HRA in order to unveil its strengths and weaknesses. Descriptive and content analyses were used in collecting data through documented texts, journal articles and other publications. The existing models proffered under the HRA were adequately reviewed and objectively criticized so that more comprehensive could be developed. The study revealed that the conceptualization of HRA, the ideas incorporated therein, and arguments are good for the accounting profession and corporate financial reporting. But the existing models yet proposed are not in a state to implement HRA practice worldwide. Hence this paper proposes...
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...Human Resource Management Alex Renteria Mgmt. 201 5/19/2011 Kent Troxell Human Resource Management Human resources is an expression used to describe the individuals who construct up the workforce of an organization, although it is also pertained in labor economics as well, for example, business segments or even whole nations. Human resources is also the name of the occupation within an organization charged with the overall responsibility for implementing strategies and policies concerning to the management of individuals (i.e. the human resources). This function title is often abbreviated to the initials "HR". Human resources are a relatively modern management term, coined as late as the 1960s. The origins of the function ascended in organizations that introduced 'welfare management' practices and also in those that adopted the principles of 'scientific management'. From these relationships emerged a fundamentally administrative management activity, coordinating an assortment of worker related processes and becoming known, in time, as the 'personnel function'. Human resources progressively became the more everyday name for this function, in the first instance in the United States as well as multinational or international corporations, reflecting the adoption of a more quantitative as well as strategic approach to workforce management, demanded by corporate management to gain a competitive advantage, utilizing limited skilled and highly skilled...
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...Impact of Globalization on Human Resource Management Bhushan Kapoor, Professor and Chair, Information Systems & Decision Sciences, Cal State University, Fullerton, USA ABSTRACT The roles and responsibilities of Human Resources departments are transforming as the modern business faces pressures of globalization. The global supply of talent is short of its long-term demand, and the gap is a challenge for employers everywhere. The shortage between the demand and supply of talent is likely to continue to increase, notably for high skilled workers and for the next generation of business executives. Now organizations need to place greater emphasis on attracting human capital rather than financial capital. Global staffing and management of a workforce diverse in culture and language skills, and dispersed in different nations are the key goals of global human resources. Only those multinational enterprises willing to adapt their human resource practices to the changing global labor market conditions will be able to attract and retain high performing employees. Companies with the ability to foresee their business needs and their workforce needs – especially for high skills – will gain the decisive competitive advantage. Keywords: Human Resource Management, Globalization, Data Analytics, Data Warehouse, Online Analytical Processing, Data Mining, Key Performance Indicators, Dashboards, Scorecards. INTRODUCTION Human Resources departments are transforming as the modern...
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...Case Study 3.3 1. How has the emergence of the Internet changed the way organizations plan and manage their human resource needs? a. The Internet has made it easier, faster, and cheaper for human resources to advertise available job positions in their companies. This has been huge advance in regards to human resources problems. 2. What kinds of future human resource activities might we see developed over the next several years? b. I think automation will take over many of the menial tasks that are associated with human resource managers. Sometimes they can have too many forms that need to be filled out. Software programs will eventually be developed to help finish these. Also, job searches can be completed by programs. 3. What are the legal and ethical issues surrounding the use of the Internet by individual employers for human resource activities? Are you concerned about violations of your own privacy because of these kinds of web applications? c. There can be data that accidentally gets leaked into the Internet that would be sharing private information. Also, web applications can easily be hacked into which can cause a problem if hackers are gaining access to employer’s private files. 4. What specialized skills will the future HRIS professional need in order to effectively manage an organization’s virtual human resource function? d. They would need to learn how to navigate the Internet and also figure out what type of postings...
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...Human resource accounting Human Resource Accounting is a method to measure the effectiveness of personnel management activities and the use of people in an organization. Historical cost approach This approach is developed by Brummet, Flamholtz and Pyle but the first attempt towards employee valuation made by R. G. Barry Corporation of Columbus, Ohio in the year 1967. This method measures the organization’s investment in employees using the five parameters: recruiting, acquisition; formal training and, familiarization; informal training, Informal familiarization; experience; and development. The costs were amortized over the expected working lives of individuals and unamortized costs (for example, when an individual left the firm) were written off. Limitations * The valuation method is based on false assumption that the dollar is stable. * Since the assets cannot be sold there is no independent check of valuation. * This method measures only the costs to the organization but ignores completely any measure of the value of the employee to the organization (Cascio 3). Replacement Cost approach This approach measures the cost of replacing an employee. According to Likert (1985) replacement cost include recruitment, selection, compensation, and training cost (including the income foregone during the training period). The data derived from this method could be useful in deciding whether to dismiss or replace the staff. Limitations * Substitution of replacement...
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...Future Trends of HR Considering the many stressors and factors effecting human resources and the workforce today, the future trends of human resources must be assessed. One of the largest dilemmas facing the workforce today is the generational differences between the current workforce and the newly hired. Presently, the baby boomer generation is of retirement age which leaves the workforce lacking of skilled labor and knowledge. Reports have shown an estimated 70 million baby boomers will soon retire from the workforce while only 40 million will enter leaving an extreme deficit in the workforce (“The Present & Future,” 2006). Therefore, stress factors affecting the labor market to compensate for this loss are increased work hours, greater workloads, and less pay increases. A current problem facing human resources in organizations is an increased turnover rate. Employees are looking for better work conditions and an increase in monetary compensation. Evaluating these conditions, future trends in HR illustrate a need for talented and experienced skilled labor and the workforce exemplifies a lack of qualified applicants. Organizations are looking at a higher cost for recruiting, training, and hiring. HR planning is imperative to future trends of human resources to include, but not limited to globalization, outsourcing, and technology. Globalization is the logistics that foster economic growth across geographical borders. Major US organizations have manufacturing...
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...Riordan Manufacturing Human Resources Integration Project Brett Hall, Carl Rascoe, Juan (Danny) Castaneda, and Tina Schaffer CIS/207 November 6, 2012 Bill Fennell Riordan Manufacturing is a global plastics manufacturer that was founded by Dr. Riordan in 1991. Dr. Riordan obtained several patents that later turned into commercial applications that developed his company in to a Fortune 1000 enterprise, employing 550 people with projected earnings of $46 million dollars and over $1 billion in revenues. In 1993 the company expanded from high tensile strength plastics and fans into producing plastic beverage containers. The company’s latest expansion was in 2000 when it opened operations in China. Riordan Manufacturing is the industry leader in using polymer materials with future goals of achieving and maintaining reasonable profitability to ensure and sustain growth (Apollo, 2005). In response to Hugh McCauley’s, Riordan Manufacturing Chief Operations Officer‘s (COO) concern about the antiquated processes and his requirements the team analyzed the manual and redundant processes of the current Human Resources System Integration (HRIS). The team has determined with the use of state-of-the art information technology system the current manual intensive, multi-functional processes can be integrated into a single system. The team has kept in consideration that the integrated HRIS has to be accessible by all of Riordan’s plant locations. Based on the request...
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...Hugh McCauley, COO, has requested that the HR system be integrated into a single application. This proposal documents my approach to gathering requirements and scoping the HRIS. In the following weeks I will outline the approach for implementing the entire HR system. The aim of this proposal is to help Riordan deploy a new HRIS. The new, modern HR system will make sure that each location can have a high level of compatibility through a standardized operating system. They will begin to implement the new system in six months, and it will be operational by next year's second quarter. Riordan's HRIS system will be updated by a developing team, who will come up with a project plan and tell management what resources they need. To understand the project goal, the problem's domain and stakeholders must be identified. Interviewing different users will pinpoint particular problems in the system and begin to develop a possible solution. “Requirement elicitation must focus on the creation of requirements, not design activities, in order to adequately address users’ concerns and not just developer needs” (Christel & Kang, p. 18, 1992). Sometimes it is an indefinite goal to gather a problem's requirements, and it is possible that design language makes the unclear specifications unverifiable. The following techniques will be used to find specific user requirements. * Workshops- that facilitating meetings with many stakeholders. * Surveys – collecting information from...
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...Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol.4, No.18, 2013 www.iiste.org Problem with Human Resource Accounting and A Possible Solution Md. Mustafizur Rahaman1* Md. Amzad Hossain2 Tabassum Akter3 1. Lecturer, Department of Accounting, Bangladesh University of Business & Technology (BUBT), Mirpur-2, Dhaka-1216, Bangladesh 2. Lecturer, Department of Business Administration, East West University, Plot No-A/2, Jahurul Islam City, Aftabnagar Main Rd, Dhaka 1219, Bangladesh 3. Lecturer, Department of Business Administration, Prime University, Dar-Us-Salam Rd, Dhaka 1216, Bangladesh * E-mail of the corresponding author: mustafizmamun09@gmail.com Abstract The idea of Human Resource Accounting (HRA) has been a debatable issue by academicians, accountants and standards setters universally. This study critically assesses the concept of HRA in order to unveil its strengths and weaknesses. Descriptive and content analyses were used in collecting data through documented texts, journal articles and other publications. The existing models proffered under the HRA were adequately reviewed and objectively criticized so that more comprehensive could be developed. The study revealed that the conceptualization of HRA, the ideas incorporated therein, and arguments are good for the accounting profession and corporate financial reporting. But the existing models yet proposed are not in a state to implement HRA practice worldwide. Hence this paper proposes...
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...HR: Obstacle Or Champion? When we look at Globalization from a Human Resources Manager’s viewpoint we encounter many different interpretations and meanings. The world is growing “smaller” day by day and people are being brought together through technology. This growing concept of “globalization” that we see on the planet presents us with both challenges and benefits as a human race that we must learn to master. Human resources management is one of the key warriors that stands in the path for conquering and mastering globalization. Human Resources has championed Globalization in many different ways, we have seen great change implemented throughout organizations. Human Resources has done a great job with building talented employees’ “Global Mindsets” for the last few years, implementing Ex-pat programs and dealing with global mobility issues of senior managers has allowed for great development within organizations. We have also seen the Human Resources function in an organization develop a de-centralized approach to attacking the globalization concept. Recently more and more companies are allowing branches in foreign countries have more freedom in adjusting to local responsiveness. If we look at McDonalds for example, the firm has done a great job in understanding the local cultures of new markets they have moved into. In some parts of Europe McDonalds has been known as a bit more upscale/mid-range restaurant in order to adapt to cultural lifestyles of Europeans. Companies...
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...Case Study In Ethics: Human Resources In human resources, professionals face ethical decisions on an every day basis. Many times, these involve issues that conflict with company policies and procedures or what they think is morally correct. With this said, the board of directors or management may desire to change the way a company is ran and change employee benefits to achieve an organizational objective that may create an ethical issue. This is why it is the responsibility of HR professionals to make ethical decisions and provide guidance to the entire organization. The human resource department is usually considered as specialists that are involved in training, compensation, and employee benefits (Society for Human Resource Management, 2008). It has only been recently that organizations have begun relying on HR professionals to help guide and prepare their employees. This increased involvement helps the HR department monitor ethical actions of the employees. It enables them to see the actual challenges the organization may face and helps them to provide ethical solutions to fix them. With this case study, the board of directors want to save money by “taking away” from the employees. XYZ Company is a manufacturing company that recently went through an IPO when deciding to expand the business and move into a broader market (Thenor-Martin, 2013). When proposing the cost saving measures, Mary, the HR director, noticed they were on the extreme side. Management expects...
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...The Human Resource department is an integral part of any organization and their roles have changed in many different ways over the years. No longer are they considered only the aspect of the company that handles all of the hiring and firing of personnel, they are now deeply rooted in the overall goal of the firm and its employees. Today I will discuss important roles of human resources (with personal examples), I will discuss how the HR department represents the employees and the firm itself, I will also discuss how the HR role has changed over the years and how it will change even more in the future. First I will discuss the most important roles of the HR department. Personnel development and growth should be the primary focus for the HR department. This will allow the employees to always understand there are chances for advancement and new opportunities. Developing your personnel involves delegating and empowering them to perform tasks on their own. “Empowerment means that the management team of a business shares some of its authority and responsibilities with team members.” (Keefe, 2010) Another way to ensure your personnel are progressing is to provide training opportunities for them within the company. This also gives them “job and career enhancing skills” (Heathfield 2010) which will allow them to grow and gain motivation. Another way to grow your employees is by ensuring there is a good mix of employees within the company. Diversification allows individuals to come...
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...manage their human resource needs? The Internet has greatly changed the way organizations plan and manage their human resource needs. By integrating HRIS’s, organizations have become a lot more efficient and cost effective. These systems cut down on a lot of the traditionally labor- and time-intensive human resource activities. For example many organizations use HRIS’s to recruit and track applicants, which saves a significant amount of money and time. 2. What kinds of future human resource activities might we see developed over the next several years? In the future I could see more human resource training for employees online. This could also involve different scenarios online and interactive programs to educate employees on human resources within their organization. I could also see more organizations putting their entire human resource planning process into a software program to better manage their human resource demands. 3. What are the legal and ethical issues surrounding the use of the Internet by individual employees for human resource activities? Are you concerned about violations of your own privacy because of these kinds of Web applications? Using the Internet for human resource activities can expose private information to unauthorized people. Identity theft is a big current issue and by using online human resource activities is only making easier for people trying to steal someone’s identity. Although using the Internet for human resources activities, it...
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