Human resource management practice I also available by michael armstrong

The essence of  

human resource 

management (HRM)

Key ConCePts and terms

Added value

Agency theory

AMO theory

Commitment

Contextual model of HRM

Contingency theory

European model of HRM

5-P model of HRM

Hard HRM

Harvard framework

HR philosophy

Human capital theory

Human relations

Human resource management (HRM)

Humanism

Institutional theory

Matching model of HRM

Motivation

Organizational behaviour theory

Organizational capability

Resource-based theory

Resource dependence theory

Soft HRM

Strategic alignment

Strategic human resource management 

(SHRM)

Transaction costs theory

Unitarist

LearnIng outComes

On completing this chapter you should be able to define these key concepts. You should 

also know about:

 

●

The fundamental concept of HRM and 

how it developed

 

●

The meaning of HRM

 

●

The goals of HRM

 

●

The philosophy of HRM

 

●

The underpinning theories

 

●

The reservations made about HRM

 

●

Models of HRM

 

●

The position of HRM today

3

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Part 

1

  The Practice of Human Resource Management

4

Introduction – the HRM 

concept

Human resource management (HRM) is concerned 

with  all  aspects  of  how  people  are  employed  and 

managed in organizations. It covers the activities of 

strategic HRM, human capital management, know-

ledge  management,  corporate  social  responsibility, 

organization  development,  resourcing  (workforce 

planning, recruitment and selection and talent manage-

ment), learning and development, performance and 

reward management, employee relations, employee 

well-being and the provision of employee services. 

It also has an international dimension. As described 

in  Chapter  3,  HRM  is  delivered  through  the  HR 

architecture of systems and structures, the HR func-

tion and, importantly, line management.

The practice of referring to people as resources 

as if they were any other factor of production is often 

criticised. Osterby and Coster (1992: 31) argued that: 

‘The term “human resources” reduces people to the 

same category of value as materials, money and tech-

nology – all resources, and resources are only valu-

able to the extent they can be exploited or leveraged 

into economic value.’ People management is some-

times preferred as an alternative, but in spite of its 

connotations, HRM is most commonly used.