MINISTRY OF EDUCATION

MEIKTILA UNIVERSITY OF ECONOMICS

DEPARTMENT OF COMMERCE

Managing Human Talent

Presented by Group (2)
Member of Group (2)
Sr No Name Roll No
1. Ma Aye Thandar Myint MBA(I) - 9
2. Mg Soe Myint Tun MBA(I) - 88
3. Ma Shwe Eain Linn MBA(I) - 85
4. Ma Tin Mar Oo MBA(I) - 104
5. Ma Chit Ma Ma MBA(I) - 13
6. Ma Moh Moh MBA(I) - 54
7. Ma May Tharaphu Win MBA(I) - 46
9. Mg Thant Sin Aung MBA(I) - 99
9. Mg Hein Min Latt MBA(I) - 20
10. Ma Tin Tin Thein MBA(I) -105
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 Daft, R. L. (2022). Management (14th ed.).
Cengage Learning, Inc.

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Contents
• The Strategic Role of HRM

• The Impact of Federal Legislation on HRM

• The Changing Social Contract

• Finding the Right People

• Developing Talent

• Maintaining an Effective Workforce

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The Strategic Role of Human Resource Management

• Human resource management (HRM) refers to the design and

application of formal systems to ensure the effective and efficient use
of human talent to accomplish organizational goals.

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THE STRATEGIC APPROACH

• HRM has shed its old “personnel” image and gained recognition as a vital participant in
formulating and carrying out corporate strategy.

• HR departments not only support strategic objectives, but also actively pursue an ongoing,
integrated plan for furthering the organization’s performance.

➢ Higher employee productivity

➢ Stronger financial results

➢ Achieve organization’s strategic goals

➢ Key players on management team

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 THE STRATEGIC APPROACH

Human Resource Management

Matching process,
integrating the
All managers are Employees are
organization’s strategy
resource managers viewed as assets and goals with employees’
needs

How a company manages its workforce may be single more important factor
in sustained competitive success
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THE STRATEGIC APPROACH

• Current Strategic Issues

• Right people to become more competitive on a global basis

• Right people for improving quality, innovation, and customer service

• Right people to retain after mergers, acquisitions, or downsizing

• Right people to apply new information technology(IT) to HRM processes

All of these strategic decisions determine a company’s need for skills and employees.

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Top Three Factors for Maintaining Competitive Success

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Strategic Human Resource Management

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BUILDING HUMAN CAPITAL TO DRIVE PERFORMANCE

Human Capital refers to the economic value of the combined knowledge, experience,
skills and capabilities of employees.

• Strategies for finding the best people

• Enhancing skills and knowledge with training programs

• Opportunities for personal and professional development

• Compensation and benefits that support knowledge sharing

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The Role and Value of Human Capital Investments

Level 1

Revenue ROIC or Total Return to

Growth ROE Shareholders

Business Results

Level 2

Customer
Productivity Quality Innovation
Service

Key Performance Drivers

Level 3

Career Human
Recruiting
Development Capital
Strategy

Rewards and Performance Workforce

Recognition Appraisal Planning

13
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Human Capital Processes
The Impact of Federal Legislation on HRM

➢ Discrimination

Discrimination occurs when hiring and promotion decisions are made based on
criteria that are not job-relevant.

➢ Affirmative Action

Affirmative action requires that an employer take positive steps to guarantee

equal employment opportunities for people within protected groups.

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Major Federal Laws – HRM

➢ Equal Opportunity/Discrimination Laws

➢ Compensation/Benefits Laws

➢ Health/Safety Laws

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The Changing Social Contract
➢ Changes in the business environment have changes the social contract, a bulletin
board at a company restructuring noted.
▪ We can’t promise how long we’ll be in business.
▪ We can’t promise that we won’t be acquired.
▪ We can’t promise that there’ll be room for promotion.
▪ We can’t promise that your job will exist when you reach retirement age.
▪ We can’t promise that the money will be available for your pension.
▪ We can’t expect your undying loyalty, and we aren’t even sure we want it.

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The New Contract & Old Contract

New Contract Old Contract

Employee • Employability; personal • Job security
responsibility
• Partner in business improvement • A cog in the machine
• Learning; skill development • Knowing
Employer • Creative development opportunities • Standard training Programs
• Lateral career moves; incentive • Traditional compensation package
Compensation
• Challenging assignments • Routine jobs
• Information and resources; • Limited information and authority
decision-making authority

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Leading-edge HR Practices

➢ Blind hiring

➢ Algorithm-based hiring

➢ Branding the company as an employer of choice

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Finding the Right People

• Matching Model
HR approach in which the organization and the individual attempt
to match each other’s needs, interests, and values.

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Human Resource Planning
Forecasting of HR needs and the projected matching of individuals with expected vacancies.

• What new technologies are emerging, and how will these affect the work system?

• How much is the volume of the business likely to change in the next five to ten years?

• What is the turnover rate, and how much turnover, if any, is avoidable?

• What types of engineers will we need, and how many?

• How many administrative personnel will we need to support the additional engineers?

• Can we use temporary, part-time, or virtual workers to handle some tasks?

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Attracting an Effective Workforce

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Recruiting

Activities or practices that define the characteristics of applicants for jobs.

• Internal recruiting or promote-from-within policies used by many to fill

their high-level positions.

• External recruiting = recruiting newcomers from outside the organization

has advantages of multiple sources

• Applicants are obtained by a variety of outside sources

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Basic Building Blocks of HRM

➢ Job analysis
Job analysis is the systematic process of gathering and interpreting
information about the essential duties, tasks, and responsibilities of a job.
➢ Job descriptions
Managers prepare a job description for each open position, which is a
concise summary of the specific tasks and responsibilities of that job.
➢ Job specifications
A job specification outlines the knowledge, skills, education, physical
abilities, and other characteristics needed to perform a specific job adequately.
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Virtual Recruiting

➢ Many of today’s organizations use virtual recruiting, including social

media such as Twitter, Weibo, Likedin, and Facebook.

➢ Social media’s video, chat features, virtual job fairs and recruitment
software

➢ Temporarily shifted to 100 percent virtual recruiting in the midst of

COVID-19

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Internship

• An arrangement to exchange his/her services for the opportunity to

gain work experience and see whether a particular career is appealing.

• Company - to “test-drive” potential employee

• Intern - to evaluate whether the job and company make a good fit

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Selecting
• The process of determining the “fit” between the job and applicant characteristics
• The most frequently used selection devices :
• Application Form - to collect information about the applicant.
• Interview - selection technique in almost every job category(biographical
questions, case question, behavioral questions, work sample)
(must avoid asking the questions that violate EEO guideline)
• Employment Test - include cognitive ability tests, physical ability tests,
personality tests and brain teaser.
• Online Checks - seeing the candidate’s blogs and social networking site to gauge
whether good fit with the organization.
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Developing Talent

• One of the goal of HRM is to develop employees into an effective

workforce.

Key development activities

• Training

• Performance management

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Training And Development

• On-the-job training
An experienced employee is asked to teach a new employee how to perform job duties.
• Social learning
Using social media tools to network and learn informally.
• Corporate universities
An in-house training and development facility that offers broad-based learning opportunities
for employees.
• Promotion from within
Promotions provide people with more challenging assignments, prescribe new
responsibilities, and help employees grow by expanding and developing their abilities.

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Performance Management

Performance management begins with performance appraisal,

which means observing and assessing employee performance, recording

the assessment, and providing feedback to the employee.

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Assessing Performance Accurately

• 360-degree feedback:

a process that uses multiple raters, including self-rating, as a way

to increase awareness of strengths and weaknesses and guide employee
development.

• Performance review ranking system:

a forced ranking system, stack ranking, or “rank and yank”.

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Changes in Performance Management
Old Approach New Approach

Annual meeting on performance Continuous feedback

Annual goals Shorter-term goals

Single-element assessment Multidimensional ratings

Subjective opinions Objective data

Individual’s work Work on multiple cross-functional teams

Focus on work activity Focus on developing new skills

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Maintaining an Effective Workforce

Managers and HRM professionals must maintain a workforce that has been
recruited and developed:

➢ Compensation

➢ Wage and Salary Systems

➢ Benefits

➢ Termination

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Compensation

Compensation refers to (1) all monetary payments

and (2) all goods or commodities used in lieu of
money to reward employees.

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Wage and Salary Systems

Management’s strategy for the organization should be a critical

determinant of the features and operations of the pay system.

The most common approach to employee compensation is job-

based pay.

Another increasing popular approach is skill-based pay

(competency-based pay).

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Benefits

• An effective rewards package requires more than money. Although salary is an important
component, benefits are equally important.

• Some benefits are required by law

• Social Security, Unemployment Compensation, Workers’ Compensation

• Other types of benefits are optional

• Health Insurance, Vacations, Daycare, Fitness Centers

• Employees are beginning to absorb more health insurance costs

• Many organizations offer cafeteria-plan benefits to address the diverse needs of employees

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Termination

• Retirement

• Voluntary Departure

• Mergers & Cutbacks

• Poor Performance

• Termination dismisses poor performers.

• Opportunity to learn about dissatisfaction through exit interview.

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