netrashetty
Netra Shetty
Aetna, Inc. (NYSE: AET) is an American health insurance company, providing a range of traditional and consumer directed health care insurance products and related services, including medical, pharmaceutical, dental, behavioral health, group life, long-term care, and disability plans, and medical management capabilities. Aetna is a member of the Fortune 100.
Human Resource Management is concerned with the people who work in the organization to achieve the objectives of the organization. It concerns with acquisition of appropriate human resources, developing their skills and competencies, motivating them for best performance and ensuring their continued commitment to the organization to achieve organizational objectives. HRM refers to activities and functions designed and implemented to maximize organizational as well as employees’ effectiveness. All major activities in the working life of the employee from the time of his entry into the organization until he leaves or retires come under the preview of HRM.
The most important activities undertaken are:
Human Resource Planning, Job – Design, Job – analysis, Procurement,
recruitment, selection, induction, placement and Training and Development.
Compensation, rewards, benefits, retrial benefits, medical and health care.
Motivation: Motivational aids, bonus, incentives, profit sharing, non
monetary benefits are self esteem satisfaction, career development, growth,
decision making, promotions, etc
Employee Relations: Grievance handling participation, collective bargaining
and other aspects of cordial relations conducive to mutual understanding
and trust.
Employee Evaluation and performance improvement, HR Audit and HR
Accounting.
Objectives of HRM:
To provide, create, utilize and motive employees to achieve the
organizational goals.
To secure integration of individuals and groups in securing organizational
effectiveness.
To create opportunities, to provide facilities, necessary motivation to
individuals and group for their growth with the growth of the organization by
Training and Development compensation.
To provide attractive, equitable incentives, rewards, benefits, social security
measures, to ensure retention of competent employees.
To maintain high morale, encourage value system and create environment
of trust, mutuality of interests.
To provide opportunities for communication expression, participation,
appreciation, recognition and provide fair efficient leadership.
To create a sense and feeling of belongingness team sprit and encourage
suggestions from employees
Many managers and organizations now recognize that a critical source of competitive advantage often comes not from having the most ingenious product design, the best marketing strategy, or the most state-of-the-art production technology, but rather from having an effective system for obtaining, mobilizing, and managing the organization’s human assets. A number of recent developments, including demographic changes in the labor force, increased global competition, experiments with new organizational arrangements, and public policy attention to work force issues have made human resource management increasingly important for organizations.
Although many managers and organizations recognize the importance of managing the work force effectively and even "know" what effective approaches are, it is remarkable how frequently firms fail to implement effective human resource management analysis and practices. Therefore, this course has two central themes: (1) How to think systematically and strategically about aspects of managing the organization's human assets, and (2) What really needs to be done to implement these policies and to achieve competitive advantage through people. The intent of the course is both to impart knowledge as well as to stimulate discussion about the values and beliefs that stand in the way of implementing this knowledge.
As a required course in a program for people interested in general management skills, our purpose is not to get into the technical detail of issues such as the psychometric properties of selection test validation, the specifics of doing job evaluations, the mechanics of interviewing, or the intricacies of employment law--all issues of relevance for people intending to be human resource professionals. Rather, the course adopts the perspective of the general manager and addresses human resource topics from a more strategic perspective, considering how human resource management might aid in developing competitive advantage and what might be done to fulfill this potential.
The course is divided into four sections. The first addresses the implementation of strategy and the importance of aligning human resource practices so that they are internally consistent and produce the skills and behaviors required to make a given strategy work. The second section treats a number of specific topics and their relationship to the development of a high performance or high commitment work organization. The third sections deals with some selected topics relevant to the implementation of human resource knowledge, including problems that come from the institutional environment. The final section of the course provides a summary and integration of the material and gives you a chance to learn from each other as you listen to the presentations of the group projects that are an important part of the course.
ORGANIZING PRINCIPLES AND VALUES
In designing the course, its content, and operating procedures, we have tried to adhere to a number of basic beliefs and values that are worth making explicit:
1. Responsibility. The students in the course are responsible, both individually and collectively, in large measure for what goes on both in the classroom and outside of class. The quality of class discussion depends on all of you coming to class prepared to discuss the issues raised by the material. Learning depends on your reading and mastery of the material. What you learn from your group project depends on the effort you and your colleagues expend and what you do to apply the course concepts. I will do my utmost to facilitate the learning process, but in the end, what you gain from the course is up to you.
2. Implementing the Principles We Are Learning. We have tried to organize and run the course in ways consistent with the ideas we are teaching. These include an emphasis on teams, mutual trust and respect, and information sharing. So, we will engage in 360 degree performance evaluation (I give you grades, you fill out course evaluation forms, and you will be assessing each other). We will do a lot of the course work in groups/teams, including a project that counts for one-half the grade. And, in the everyday interactions that occur in the course, we should strive to treat each other with respect and trust. As you will see, I do not cold call, although I understand how this helps you "get ready" for class. It does, however, convey that I can't trust you to prepare for the course unless you are somehow threatened with some sanction for being unprepared.
3. Fun. The material is interesting and engaging, and learning should be fun. We will do a number of things, including using video material, stimulating debate, and relying on your insights and examples to make the course enjoyable. If I believed that "suffering is good for you," I would be teaching somewhere else.
READINGS
As described below, the readings come form a number of different sources. To integrate the conceptual and applied material you will be reading, we will use cases for most of the classes. Each case will provide an opportunity for you to apply the analytical material of the course.
It is important that you thoroughly prepare the case before class. To help focus your preparation and analysis, a set of questions for each case is included in the course outline. You are strongly encouraged to work with your pre-assigned study group in preparing for class. The opportunity to learn from each other is an important component of your learning.
The readings have been carefully selected by Professors James Baron, Charles O’Reilly, and myself to provide a variety of perspectives on the topics considered in the course. It may appear that there is a lot of reading, but learning how to absorb ideas and information is an important skill that will continue to serve you well even after you leave Stanford. Doing all of the readings is useful to your mastering the course material. This class is probably the best opportunity you will have to learn about human resources from a general management perspective—a subject that will be increasingly important as your career develops. So, you should seize this opportunity by availing yourself of the materials carefully culled for the course. And, you will have these materials to rely on after the course is over.
Required Reading
Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First, Boston, MA: Harvard Business School Press, 1998.
Described by one reviewer as "provocative," the book challenges, using numerous examples, logic, and a great deal of systematic empirical evidence, a lot of the prevailing ideology and organizational behavior with respect to managing people for profit (e.g., that one needs to cut wages to reduce labor costs, that fewer people are better than more, that the capital markets reward sound human resource management, that piece work and an emphasis on monetary compensation are helpful, etc.). The preface provides an overview of a) how this book differs form its predecessor and b) how it is organized.
Case Material and Additional Readings in Syllabus
Recommended Reading:
Reichheld, Frederick F., The Loyalty Effect, Harvard Business School Press, 1996.
A strategy consultant from Bain discovers the importance of employee loyalty and human resource management. The book (several chapters of which are required reading in the course) is rich in insights about how real economic value is created in businesses through customer and employee loyalty (the two are connected) and the analyses necessary to make sound economic decisions about these issues.
Pfeffer, Jeffrey. Competitive Advantage Through People, Harvard Business School Press, 1994. The precursor to the manuscript you will be using as the principal text in the course. We will be using some material (selected chapters) from the book during the course and it provides an organizing theme and framework for at least my thinking about the course content.
GRADING
One-quarter (25%) of your grade will be based on a mid-term examination. All sections of H280 will take a common mid-term examination. This has been scheduled by the Registrar for the morning of Saturday, May3. The examination will be closed book and closed notes. The mid-term examination is designed to test your knowledge of the material and your ability to use it in a real situation to make recommendations for action.
One-half (50%) of your grade will be based on the group project. You can do this project with your study group or with any other group of six people you decide to construct. Instructions for the group project follow in a separate memorandum. What is important for you to know is that a) the group projects will be presented in class during the last three sessions, May 27, May 30, and June 3; b) the written, final version of the project will be due on the day and at the time your group presents in class—late projects will not be graded; and c) the group project is intended to help you apply the concepts learned in the course, see their relevance in a real field situation, and have some fun while doing so. Students in previous classes have found the group project to be an invaluable learning experience. The particular class session of the three scheduled for group presentations in which your group will present your report will be randomly determined.
One-fourth (25%) of your grade will be based on your class participation. Your class participation will be based importantly on the evaluations made by your peers as well as evaluations made by me. Twice during the quarter, you will have an opportunity to provide an assessment of who has contributed to your learning during class discussions, as well as specific, anonymous feedback to other class members if you so choose.
Human Resource Management is concerned with the people who work in the organization to achieve the objectives of the organization. It concerns with acquisition of appropriate human resources, developing their skills and competencies, motivating them for best performance and ensuring their continued commitment to the organization to achieve organizational objectives. HRM refers to activities and functions designed and implemented to maximize organizational as well as employees’ effectiveness. All major activities in the working life of the employee from the time of his entry into the organization until he leaves or retires come under the preview of HRM.
The most important activities undertaken are:
Human Resource Planning, Job – Design, Job – analysis, Procurement,
recruitment, selection, induction, placement and Training and Development.
Compensation, rewards, benefits, retrial benefits, medical and health care.
Motivation: Motivational aids, bonus, incentives, profit sharing, non
monetary benefits are self esteem satisfaction, career development, growth,
decision making, promotions, etc
Employee Relations: Grievance handling participation, collective bargaining
and other aspects of cordial relations conducive to mutual understanding
and trust.
Employee Evaluation and performance improvement, HR Audit and HR
Accounting.
Objectives of HRM:
To provide, create, utilize and motive employees to achieve the
organizational goals.
To secure integration of individuals and groups in securing organizational
effectiveness.
To create opportunities, to provide facilities, necessary motivation to
individuals and group for their growth with the growth of the organization by
Training and Development compensation.
To provide attractive, equitable incentives, rewards, benefits, social security
measures, to ensure retention of competent employees.
To maintain high morale, encourage value system and create environment
of trust, mutuality of interests.
To provide opportunities for communication expression, participation,
appreciation, recognition and provide fair efficient leadership.
To create a sense and feeling of belongingness team sprit and encourage
suggestions from employees
Many managers and organizations now recognize that a critical source of competitive advantage often comes not from having the most ingenious product design, the best marketing strategy, or the most state-of-the-art production technology, but rather from having an effective system for obtaining, mobilizing, and managing the organization’s human assets. A number of recent developments, including demographic changes in the labor force, increased global competition, experiments with new organizational arrangements, and public policy attention to work force issues have made human resource management increasingly important for organizations.
Although many managers and organizations recognize the importance of managing the work force effectively and even "know" what effective approaches are, it is remarkable how frequently firms fail to implement effective human resource management analysis and practices. Therefore, this course has two central themes: (1) How to think systematically and strategically about aspects of managing the organization's human assets, and (2) What really needs to be done to implement these policies and to achieve competitive advantage through people. The intent of the course is both to impart knowledge as well as to stimulate discussion about the values and beliefs that stand in the way of implementing this knowledge.
As a required course in a program for people interested in general management skills, our purpose is not to get into the technical detail of issues such as the psychometric properties of selection test validation, the specifics of doing job evaluations, the mechanics of interviewing, or the intricacies of employment law--all issues of relevance for people intending to be human resource professionals. Rather, the course adopts the perspective of the general manager and addresses human resource topics from a more strategic perspective, considering how human resource management might aid in developing competitive advantage and what might be done to fulfill this potential.
The course is divided into four sections. The first addresses the implementation of strategy and the importance of aligning human resource practices so that they are internally consistent and produce the skills and behaviors required to make a given strategy work. The second section treats a number of specific topics and their relationship to the development of a high performance or high commitment work organization. The third sections deals with some selected topics relevant to the implementation of human resource knowledge, including problems that come from the institutional environment. The final section of the course provides a summary and integration of the material and gives you a chance to learn from each other as you listen to the presentations of the group projects that are an important part of the course.
ORGANIZING PRINCIPLES AND VALUES
In designing the course, its content, and operating procedures, we have tried to adhere to a number of basic beliefs and values that are worth making explicit:
1. Responsibility. The students in the course are responsible, both individually and collectively, in large measure for what goes on both in the classroom and outside of class. The quality of class discussion depends on all of you coming to class prepared to discuss the issues raised by the material. Learning depends on your reading and mastery of the material. What you learn from your group project depends on the effort you and your colleagues expend and what you do to apply the course concepts. I will do my utmost to facilitate the learning process, but in the end, what you gain from the course is up to you.
2. Implementing the Principles We Are Learning. We have tried to organize and run the course in ways consistent with the ideas we are teaching. These include an emphasis on teams, mutual trust and respect, and information sharing. So, we will engage in 360 degree performance evaluation (I give you grades, you fill out course evaluation forms, and you will be assessing each other). We will do a lot of the course work in groups/teams, including a project that counts for one-half the grade. And, in the everyday interactions that occur in the course, we should strive to treat each other with respect and trust. As you will see, I do not cold call, although I understand how this helps you "get ready" for class. It does, however, convey that I can't trust you to prepare for the course unless you are somehow threatened with some sanction for being unprepared.
3. Fun. The material is interesting and engaging, and learning should be fun. We will do a number of things, including using video material, stimulating debate, and relying on your insights and examples to make the course enjoyable. If I believed that "suffering is good for you," I would be teaching somewhere else.
READINGS
As described below, the readings come form a number of different sources. To integrate the conceptual and applied material you will be reading, we will use cases for most of the classes. Each case will provide an opportunity for you to apply the analytical material of the course.
It is important that you thoroughly prepare the case before class. To help focus your preparation and analysis, a set of questions for each case is included in the course outline. You are strongly encouraged to work with your pre-assigned study group in preparing for class. The opportunity to learn from each other is an important component of your learning.
The readings have been carefully selected by Professors James Baron, Charles O’Reilly, and myself to provide a variety of perspectives on the topics considered in the course. It may appear that there is a lot of reading, but learning how to absorb ideas and information is an important skill that will continue to serve you well even after you leave Stanford. Doing all of the readings is useful to your mastering the course material. This class is probably the best opportunity you will have to learn about human resources from a general management perspective—a subject that will be increasingly important as your career develops. So, you should seize this opportunity by availing yourself of the materials carefully culled for the course. And, you will have these materials to rely on after the course is over.
Required Reading
Jeffrey Pfeffer, The Human Equation: Building Profits by Putting People First, Boston, MA: Harvard Business School Press, 1998.
Described by one reviewer as "provocative," the book challenges, using numerous examples, logic, and a great deal of systematic empirical evidence, a lot of the prevailing ideology and organizational behavior with respect to managing people for profit (e.g., that one needs to cut wages to reduce labor costs, that fewer people are better than more, that the capital markets reward sound human resource management, that piece work and an emphasis on monetary compensation are helpful, etc.). The preface provides an overview of a) how this book differs form its predecessor and b) how it is organized.
Case Material and Additional Readings in Syllabus
Recommended Reading:
Reichheld, Frederick F., The Loyalty Effect, Harvard Business School Press, 1996.
A strategy consultant from Bain discovers the importance of employee loyalty and human resource management. The book (several chapters of which are required reading in the course) is rich in insights about how real economic value is created in businesses through customer and employee loyalty (the two are connected) and the analyses necessary to make sound economic decisions about these issues.
Pfeffer, Jeffrey. Competitive Advantage Through People, Harvard Business School Press, 1994. The precursor to the manuscript you will be using as the principal text in the course. We will be using some material (selected chapters) from the book during the course and it provides an organizing theme and framework for at least my thinking about the course content.
GRADING
One-quarter (25%) of your grade will be based on a mid-term examination. All sections of H280 will take a common mid-term examination. This has been scheduled by the Registrar for the morning of Saturday, May3. The examination will be closed book and closed notes. The mid-term examination is designed to test your knowledge of the material and your ability to use it in a real situation to make recommendations for action.
One-half (50%) of your grade will be based on the group project. You can do this project with your study group or with any other group of six people you decide to construct. Instructions for the group project follow in a separate memorandum. What is important for you to know is that a) the group projects will be presented in class during the last three sessions, May 27, May 30, and June 3; b) the written, final version of the project will be due on the day and at the time your group presents in class—late projects will not be graded; and c) the group project is intended to help you apply the concepts learned in the course, see their relevance in a real field situation, and have some fun while doing so. Students in previous classes have found the group project to be an invaluable learning experience. The particular class session of the three scheduled for group presentations in which your group will present your report will be randomly determined.
One-fourth (25%) of your grade will be based on your class participation. Your class participation will be based importantly on the evaluations made by your peers as well as evaluations made by me. Twice during the quarter, you will have an opportunity to provide an assessment of who has contributed to your learning during class discussions, as well as specific, anonymous feedback to other class members if you so choose.
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