3. HR Strategy connects the business strategy with the effort of Human
Resources to build a better and competitive organization and aligns top
executives with the HR team
Sets clear objectives for HR in the areas of the talent development,
succession planning and organizational development to ensure the
future of the organization
Defines the key principles for the compensation and organizational
design strategy as the organization keeps itself thin and quick
Defines key areas which will be used as the competitive advantage
in the job market
4. Strategic shift in HR Responsibilities requires a strategy,
which is aligned with business objectives.
Change of HR Roles and Responsibilities has to be driven
by outcomes from the strategy implementation.
A fast moving company requires the strategic HR
management (difficult to achieve without any strategy).
The HR Strategy does support strategic decisions. The cost
efficient organization always makes decision supported by
strategies.
5. Assess the readiness for change. Assess HR team and the entire
organization.
Use HR SWOT Analysis. Develop the HR Strategy for the next few years.
Develop the basic HR framework, which will support the change to being
the strategic partner.
Clearly define the role of the HR Leader in the organization. Be the
architect.
Get the approval.
Clearly define owners of the HR Strategy. Define who will execute the
strategy, define the strategic split of roles.
Clarify roles in Human Resources. Define specialist and generalist roles.
Fill the structure with upgraded talents.
6. Factors Determining the Investment Orientation of an organization
1. Management values
2. Attitude towards risk
3. Nature of skills needed by employees
4. Availability of outsourcing
7. Life Cycle Stages HR Practices
Start-up •Flexible patterns of work
• Recruitment of highly motivated &
committed employees.
• Competitive pay
•Little formality
Growth •More sophisticated recruitment &
selection
• Training & development
• Performance Mgmt process
• Reward systems
• Developing stable employee
relations
8. Life Cycle Stages HR Practices
Maturity •Attention to the control of labour cost
• Focus on increasing productivity
• Control compensation
Decline •Emphasis on rationalization of
workforce & downsizing
• Retraining & career consulting
services
strategic management means strategic planning implemented by the management for solution of various problems arose in the area of production, employees,& finance to the business unit.
Strategic Human Resource Management is an approach relates to decisions about the nature of employment relationship,recruitment,training,development,performance management, reward,& employee relationship.
To ensure the availability of a skilled,commited, & highly motivated workforce in the organization to achieve sustained competitive advantage.
To provide direction to the organization so that both the business needs of the organization & the individual & collective needs of its workforce are met