Strategic Human Resource Management
In this essay sample, we will discuss strategic human resource management.
Strategic human resource management is the connection between a company’s human resources and its strategies, objectives, and goals. Strategic human resource management aims to:
- Advance flexibility, innovation, and competitive advantage.
- Develop a fit-for-purpose organizational culture.
- Improve business performance.
For strategic human resource management to be effective, human resources (HR) must play a vital role as a strategic partner when company policies are created and implemented. Strategic HR demonstrates throughout different activities, such as hiring, training, and rewarding employees.
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Importance of Strategic Human Resource Management
Companies are more likely to be successful when all teams are working towards the same objectives. Strategic HR carries out analysis of employees and determines the actions required to increase their value to the company. Besides, Strategic human resource management uses this analysis to develop HR techniques to address employee weaknesses. Strategic human resource management helps in:
- Increasing job satisfaction.
- Creating better work culture.
- Improving rates of customer satisfaction.
- Efficient resource management.
- Building a proactive approach to managing employees.
- Boosting productivity.
Benefits of Human Resource Management
The closer the alignment between HR and an organization’s business strategy makes the better the company’s ability to anticipate and respond to customer needs and maintain a competitive advantage. Rigorous research, planning, and development involving workforce culture, behaviors, and competencies promote the successful execution of business strategy.
The following are benefits of strategic human resource management:
- Avoiding costly and disruptive surprises that interfere with achieving goals.
- Addressing key issues promptly to avoid crises.
- Promoting employee productivity and overall organizational success.
- Providing a sense of direction to how work gets done.
- Keeping employees focused on company goals.
- Providing a strategic focus to guide training and development initiatives.
- Giving leaders tools to help focus and implement their strategic initiatives.
Seven Functions and roles of Human Resource Management
Strategic human resource management is essential for the retention and development of quality staff. Employees will likely feel valued and want to stay with a company that places a premium on employee retention and engagement. Before you implement strategic human resource management, you will need to create a strategic HR planning process using the steps below:
Develop a thorough understanding of the business objectives
Since the success of strategic HR depends on how well it links to organization goals, you need to have a thorough understanding of your aims, objectives, and mission. You will need to articulate both your short and long-term plans for growth to the relevant HR personnel. Ensuring clear communication of your goals will make it easier for HR personnel to formulate an effective resource management strategy.
Evaluate your HR capability
Evaluating your current HR capabilities will enable you to understand the employees and their contribution to fulfilling your goals and objectives. Additionally, undertake a skills inventory for every employee. Skills inventories help you to discover which employees are experts in particular areas.
Analyze your current HR capacity in light of your goals
An assessment of your HR capacity will help you recognize barriers and implement a plan of action to capitalize on opportunities and effectively deal with threats. Strategic HR personnel will analyze the number of employees, their skills, and work with senior leadership. That is to identify ways to equip employees to serve the needs of your company.
Estimate future HR requirements
After analyzing your employees and skills about your objectives, time to forecast your HR needs. The estimation is relating:
- Demand – A prediction needs the number of employees with the associated skills required for fulfilling your company’s future needs.
- Supply – Looks at the employees and skills currently available to help your company achieve its strategic goals.
Determine the tools required for employees to complete the job
HR personnel needs to liaise with the appropriate departments to discover how the tools used by employees impact their ability to perform their roles. For example, an audit of hardware and software can be undertaken jointly with the Information Technology department to identify gaps in tools to facilitate a more organized workforce.
Implement the human resource management strategy
After the analysis and forecast of your HR requirements, time to start the process of expanding your workforce and developing current workers to equip your company for future growth.
Evaluation and corrective action
HR personnel should decide on a timeline to carry out a strategic HR management review. This review will track the progress made and also identify areas for improvement. That Evaluation measure whether changes are helping your company to achieve its goals. If strategic human resource management is failing to meet its objectives, take corrective actions.
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