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NAME : HANNAH THOMAS CLASS : HRM FUNCTIONS, SYSTEMS & PROCEDURES ID# : 2005031371 QUESTION : Staffing, Training, Compensation and Performance Management are important HRM functions. How can each of these assist companies to succeed in the following areas? (a) the new economy (b) meet stakeholders needs (c) high performance, work system challenges (d) global challenges In today's competitive and ever changing economy, the challenges of human resource management is becoming more demanding of strategic responses to its functions as the new era unfolds. The primary function of human resources is to use strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation and flexibility. Staffing, training, compensation and performance management are important functions of human resorces, if carried out effectively the success of an organisation becomes imminent. The staffing of an organization is a central part of human resource management and its functions. In the new economy, it is part of the managers and...

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