They are generally the tangible, monitorable key performance metrics for HR. Outcomes include aspects of business such as employee retention, commitment, competence, and cost-effectiveness. HRM Outcomes are the results of the policies as developed by the above influences.Stakeholder interest and situational factors feed into the development of HRM policies. They encompass activities such as hiring, training, reward and feedback systems, and more. These are the specific policies, workflows, and processes implemented within the business. For example, the c-suite of a company may be influenced by self-interest, societal values, legislation, or an adversarial worker union. These pressures affect the positions and influences of the stakeholders. Situational factors are elements of the workforce, environment, industry, or society that affect HR. The combined influence of stakeholders guides the development of HR policies. Traditionally, this includes shareholders and management, though modern stakeholders can also include employee groups, unions, and even governmental interests. Stakeholders are any group that has an interest in the outcomes of the business. Traditionally, the Harvard model is composed of five segments. It is one of the most nuanced, flexible, and holistic approaches to HR currently in use. It was initially developed in 1984 by Michael Beer and refined over the years, including additions by other experts such as Paauwe and Richardson in 1997. The Harvard model of human resources is one of the oldest and most influential codified models. By learning the theories and models, you can experiment in applying them to your business, finding the one that works best with your outlook and workforce, and optimizing how well your company performs. Some of these practices have been around for decades, while others are relatively recent developments in the field.Īs an HR manager or executive, it’s well worth your time to familiarize yourself with at least the basic details of these theories. There are many theories and a lot of science that contribute to new and ongoing models of HR practices. Human Resources exists at a crossroads between sociology and business theory.
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