(Mt) – Discussion Question7-721

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BUS 721 Executive Human Resource Management Belhaven University Unit 7 Education – Human Capital Implications of Culture for Human Resource Management Role of Chief Human Resource Officer (CHRO) 1 Unit Topics Education – Human Capital ◼ Implications of Culture for Human Resource Management ◼ Role of Chief Human Resource Officer (CHRO) ◼ 2 Education- Human Capital ◼ A leader in HRM must understand the value of Human Capital. It is best defined as the productive capabilities of individuals that are made up of knowledge, skills, and experience that have economic value. ◼ A company’s human capital is determined by a number of variables and one of those variables is the educational opportunities available in the labor force. ◼ A factor that continues to grow in the Education and Human Capital area is that of technology and how the skills of technology and creative skills are needed. 3 Implications for Culture With the growth of international markets, it is important to remember the value and influence culture has on HRM. ◼ In fact, the far most important factor influencing international HRM is the culture of the country in which a facility is located. ◼ Culture is best defined as the set of important assumptions (often unstated) that members of a community share. These assumptions consist of beliefs about the world and how it works and the ideals that are worth striving for. ◼ 4 Culture (Counited) There are two important factors to think about in relation to HRM. 1. 2. ” Culture can affect a country’s laws, in that laws are often the codification of right and wrong as defined by the culture. Cultures and economics systems are closely intertwined and these two factors can affect human capital in many different facets. Role of Chief HR Officer The Chief HR Officer not only bears the responsibility for leading the HR function of the organization but also ensuring the HR system and processes are ready to deliver value to the company. ◼ Many Chief HR Officers become the Chief Strategy Officer to the executive team establishing how the organizations human capital fits into the long term strategy. ◼ 6 Role of Chief HR Officer (Cont.) In closing there are two roles a Chief HR Officer embraces and does on a daily job in addition to Chief Strategy Officer. 1. Talent Architect: This is where he or she is focused on building and identifying the human capital for the overall future of the organization. 2. Counselor/Confidante/Coach – This is where he or she spends significant time counseling and coaching team members or resolving interpersonal conflicts. ◼ 7 What’s next? ◼ Complete reading assignments ◼ Complete writing assignments ◼ Answer discussion questions ◼ Complete unit quiz 8 References ◼ Noe, R., Hollenbeck, J., Gerhart, B., & Wright, P. (2021). Human Resource Management (12th ed.). McGraw- Hill Education. 9

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