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Having a fractional HR resource in place will often illuminate the need for other HR services and program builds, which are generally supported by those same companies. Whether you are an individual HR practitioner or have a small company of HR practitioners and consultants, fractional HR and HR outsourcing can be a very viable and financially rewarding business model.

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It can also be very personally rewarding, as the HR professional enables smaller companies to grow and thrive, knowing that its HR compliance and processes are covered. Human resource management provides value to an organization, to a large extent, via its management of the overall employee life cycle that employees follow—from hiring and onboarding, to performance management and talent development, all the way through to transitions such as job change and promotion, to retirement and exit. Human capital is a key competitive advantage to companies, and those who utilize their human resource partners effectively to drive their human capital strategy will reap the benefits.

Human resource management includes the leadership and facilitation of the following key life cycle process areas:. Human resources is responsible for driving the strategy and policies in these areas to be in accordance with and in support of the overall business strategy.

21555 Introduction to Human Resource Management

In the second wave, HR became focused on the design of HR practice areas, which could be built upon best-practice models. Wave 3 of HR brought with it the concept that HR should be a true partner to the business and should support the business strategy through its programs and services. Finally, in the fourth wave, HR is still a partner to the business, but it looks outside of the business to customers, investors, and communities to see how it can be competitive in terms of customer share, investor confidence, and community reputation.

Some key areas that HR supports within the employee life cycle process include: human resources compliance, employee selection and hiring, performance management, compensation rewards, and talent development and succession planning.

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Introduction to Human Resource Management

Human Resources Outsourcing—Entrepreneurial Ventures. How has the function of human resource management evolved over the years? It offers a wealth of pedagogical features to help students get to grips with the basic theory of HRM, including learning outcomes for each chapter, a framework case study, case vignettes, longer cases at the end of each part, chapter summaries, self test questions, activities, points to ponder, class discussion questions, project questions, in text definitions and in text cross referencing.

The book is accompanied by a resource website for lecturers providing extra teaching materials and solutions password protected for lecturers and also conversion notes from the current most popular texts.

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Managing Careers Performance Appraisal. Employee Training and Management Development Compensation Management Occupational Safety and Health Grievance Handling Disciplinary Action Trade Unions Quality of Work Life Quality Circles. All rights reserved. Introduction to Human Resource Management.

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