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Wayne F. Cascio is an American economist, currently a Distinguished Professor and the Robert H. Reynolds Chair in Global Leadership at University of Colorado Denver Business School and previously the President of the Society for Industrial and Organizational Psychology in 1992 to 1993.
In order to diminish negative effects of layoffs, Wayne Cascio suggests alternative approaches to layoff and downsizing as "Responsible restructuring" approach. [28] Optimism is critical for rebuilding the workplace environment because employees look to their leaders for stability and predictability.
PsyCap was conceptualized as a result of growing literature around positive organizational behavior (POB), or "the study and application of positive oriented human resource strengths and psychological capacities that can be measured, developed, and effectively managed for performance improvement" (Luthans, 2002, p. 59). [6]
Ongoing research investigates the relationship between human research management and performance and includes organization studies, industrial and organizational psychology, organizational theory and management science. [54] Human resource management research can improve human resource management and HR initiatives. [54]
Workforce management (WFM) is an institutional process that maximizes performance levels and competency for an organization.The process includes all the activities needed to maintain a productive workforce, such as field service management, human resource management, performance and training management, data collection, recruiting, budgeting, forecasting, scheduling and analytics.
The human resource process was established to fulfill a number of objectives within the organization. These include: To furnish cost value information for making proper and effective management decisions about acquiring, allocating, developing, and maintaining human resources in order to achieve cost effective organizational objectives.
The function of human resources management is to provide the employees with the capability to manage: healthcare, record keeping, promotion and advancement, benefits, compensation, etc. The function, in terms of the employers benefit, is to create a management system to achieve long-term goals and plans.
Now, human resources focus on the people side of management. [15] There are two real definitions of HRM (Human Resource Management); one is that it is the process of managing people in organizations in a structured and thorough manner. [15] This means that it covers the hiring, firing, pay and perks, and performance management. [15]