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Human Resources
Human resources has at least two meanings depending on context. The original
usage derives from political economy and economics, where it was traditionally
called labor, one of three factors of production. The more common usage within
corporations and businesses refers to the individuals within the firm, and to
the portion of the firm's organization that deals with hiring, firing, training,
and other personnel issues. This article addresses both definitions.
Human resource management serves these key functions:
Hiring (recruitment)
Compensation
Evaluation and Management (of Performance)
Promotions
Managing Relations
Planning
It is the responsibility of human resource managers to conduct these activities
in an effective, legal, fair, and consistent manner.
The objective of Human Resources is to maximize the return on investment from
the organization's human capital.
"Human resource management aims to improve the productive contribution of
individuals while simultaneously attempting to attain other societal and
individual employee objectives." Schwind, Das & Wagar (2005)
In reality, human resources deals with two different worlds
1) Non-Unionized - Where management has the control, and
2) Unionized - Where there is shared control through a collective agreement -
Management and a union negotiate a collective agreement with respect to terms
and conditions of employment. The Union represents employees to management (
i.e. the Union speaks for employees, both collectively and individually).
Collective Agreements - Can cover any and all terms and conditions of
employment. Collective agreements become "the Bible," the code and are binding
under law. Disputes of the collective agreement are resolved by arbitration.
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Modern analysis emphasizes that human beings are not "commodities" or
"resources", but are creative and social beings that make class contributions
beyond 'labor' to a society and to civilization. The broad term human capital
has evolved to contain some of this complexity, and in micro-economics the term
"firm-specific human capital" has come to represent a meaning of the term "human
resources." Advocating the central role of "human resources" or human capital in
enterprises and societies has been a traditional role of socialist parties, who
claim that value is primarily created by their activity, and accordingly justify
a larger claim of profits or relief from these enterprises or societies. Critics
say this is just a bargaining tactic which grew out of various practices of
medieval European guilds into the modern trade union and collective bargaining
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