Labor Law and Human Capital
Labor Law and Human Capital Management
Patti L. Jolicoeur
Human Resource Management in the 21st Century
HRM5004 – u03a1
October 30, 2010 Theresa Pavone
Abstract
There are many laws and regulations affecting HR Professionals and labor in the workplace. The U.S. Department of Labor oversees these and ensures organizational compliance. The relationship of labor laws and human capital management is a balance of analyzing workforce strengths and vulnerabilities and risk management to support an organization in meeting goals and objectives and minimize the hazards and shocks along the way.
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(3 points)
Labor Laws and Human Capital Management in Manufacturing
The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products and are often described as plants, factories, or mills. Two labor laws that heavily impact the manufacturing industry are Fair Labor Standards Act (FLSA) and Occupational Safety and Health Act (OSHA) (Bureau of Labor Statistics, 2010). As organizations continue their attempts to outlast the current unpredictable economic conditions, it is vial not to lose sight of having solid HR practices which are critical to protect the company against lawsuits and in weathering the economic storm.
Effective HRM will help maximize profits and productivity by minimizing employment related expenses and maximizing employee performance—retain and sustain. It is necessary to operate leaner and smarter, engage employees, and ensure the right people are put into the right jobs (Journal of Human Resources and Human Resources Management, 2004). The role of an HR professional should concentrate on a company’s most important resource—the employees. Without high-quality employees, organizational goals and objectives cannot be achieved.
Importance and Influence of Labor Laws
The area of FLSA that has a high occurrence in
Patti L. Jolicoeur
Human Resource Management in the 21st Century
HRM5004 – u03a1
October 30, 2010 Theresa Pavone
Abstract
There are many laws and regulations affecting HR Professionals and labor in the workplace. The U.S. Department of Labor oversees these and ensures organizational compliance. The relationship of labor laws and human capital management is a balance of analyzing workforce strengths and vulnerabilities and risk management to support an organization in meeting goals and objectives and minimize the hazards and shocks along the way.
*
(3 points)
Labor Laws and Human Capital Management in Manufacturing
The Manufacturing sector comprises establishments engaged in the mechanical, physical, or chemical transformation of materials, substances, or components into new products and are often described as plants, factories, or mills. Two labor laws that heavily impact the manufacturing industry are Fair Labor Standards Act (FLSA) and Occupational Safety and Health Act (OSHA) (Bureau of Labor Statistics, 2010). As organizations continue their attempts to outlast the current unpredictable economic conditions, it is vial not to lose sight of having solid HR practices which are critical to protect the company against lawsuits and in weathering the economic storm.
Effective HRM will help maximize profits and productivity by minimizing employment related expenses and maximizing employee performance—retain and sustain. It is necessary to operate leaner and smarter, engage employees, and ensure the right people are put into the right jobs (Journal of Human Resources and Human Resources Management, 2004). The role of an HR professional should concentrate on a company’s most important resource—the employees. Without high-quality employees, organizational goals and objectives cannot be achieved.
Importance and Influence of Labor Laws
The area of FLSA that has a high occurrence in
References: Bohlander, G. & Snell, S. (2010). Managing Human Resources. Mason, OH: South-Western Cengage Learning Bureau of Labor Statistics. (2010). Career guide to industries 2010-11 edition. Retrieved October 28, 2010, from http://www.bls.gov/oco/cg/cgs015.htm Fair Labor Standards Act. (2010). FLSA exemptions. Retrieved October 30, 2010, from http://www.dol.gov/elaws/esa/flsa/screen75.asp Julien, W. (2009). Employment law, an overview. Retrieved October 28, 2010, from http://www.attorneyjulien.com/CM/FSDP/PracticePage/Employment-Employee/Employment-Law-Employee.asp Journal of Human Resources and Human Resources Management. (2004). Managing Human Capital. Retrieved October 28, 2010, from http://www.human-capital-management.net United States Department of Labor. (2010). OSHA standards: protection on the job. Retrieved October 29, 2010, from http://63.234.227.130/workers.html