Role of Human Resource Management (HSC SSCE Business Studies): Flashcards

Managing employer-employee relationship to achieve strategic goals

Big picture view; employees as value-adding assets

Long-term benefit competitors cannot easily replicate

Business commitment to operating ethically & contributing to society

Contracting external providers for internal business functions

Retaining, rewarding, and motivating skilled employees

Operations, Marketing, and Finance

Skills, culture, relationships develop over time; can't be copied

Talent retention, leadership development, ageing workforce

Reduced labour costs, access to specialist expertise