After reading this chapter, you should be able to:

• Describe why managing human resources is so important to organizations.
• Detail the differences between traditional HRM and strategic human resource management (SHRM).
• Describe the functions in the "traditional" approach to HRM.
• Discuss some of the theoretical perspectives on SHRM.
• Discuss the essential elements of SHRM.
• Discuss the processes involved in transforming traditional HRM into strategic HRM.
• Describe how strategic planning processes should include and be linked to SHRM.
• Describe how to establish partnerships between HR managers and line/operational managers.
• Appreciate the difference between the notions of strategic fit and strategic flexibility as they relate to HR.
• Discuss some of the measures employed to assess SHRM effectiveness (and efficiency).
• Debate the question, "Is SHRM really worth all of that trouble?"