Principles and Practices of Human Resource Management in Global Contexts

 07.STRATEGIC HR MANAGEMENT


7.1 Strategic Human Resource Management


Strategic Human Resource Management uses a variety of structural, cultural, and personnel strategies to strategically deploy a highly capable and committed staff in order to achieve goals by aligning HRM's focus with business (Storey,1995).

In order to create value and gain a competitive edge, these strategies involve selecting, developing, and rewarding staff members; creating and preserving high-performance work environments; and designing organizations.

The core of strategic HRM is developing a framework for people management that influences culture and behavior in order to help an organization achieve its long-term objectives.

7.2 Importance of Strategic Human Resource Management


Connecting employee with organizational goals
Gaining a competitive advantage
Adapting to change
Enhance employee performance
Driving business growth
Improving operational efficiency

7.3 Traditional HRM vs Strategic  Hrm



7.4 Steps to Strategic Human Resource Management


To ensure that both the person and the organization benefit from success together, strategic human resource management is a linear process that involves obtaining people from the market and making sure they are developed, rewarded, and kept.The HR Department collaborates with other departments within the company to accomplish this, attempting to comprehend and develop strategies that support both departmental objectives and the corporation as a whole.

Identify company objectives
Evaluate existing HR capabilities
Analyze existing HR capabilities
Forecast company's HR requirements
Determine tools for employees for effective performance
Implement the Human Resource Management Strategy
Evaluation and Correction

7.5 FIVE P'S Of Human Resource Management


Purpose
Principles
Processes
People
Performance



Conclusion


A Strategic Human Resource Management plan directs HR initiatives to ensure that employees are aligned with the goals of the company. Put differently, the purpose of initiatives like hiring, performance reviews, pay and benefits, and so on, is to provide the means for employees to accomplish the goals set forth by the organization.


References


Mirza, B. (2023) In Strategic Workforce Planning, Questions More Important than Answers, SHRM.[Online] Available at: https://www.shrm.org/topics-tools/news/strategic-workforce-planning-questions-important-answers.[Accessed 12 April 2024]

Van Vulpen, E. (2023) Strategic Human Resource Management 101: Your Essential Guide, AIHR.[Online] Available at: https://www.aihr.com/blog/strategic-human-resource-management/.

[Accessed 12 April 2024]

https://www.jaroeducation.com/blog/7-steps-to-strategic-human-resource-management/

Van Vulpen, E. (2023) Strategic Human Resource Management 101: Your Essential Guide, AIHR.[Online] Available at: https://www.aihr.com/blog/strategic-human-resource-management/.

[Accessed 12 April 2024]

Comments

  1. Shehan PriyashanthaApril 13, 2024 at 9:38 AM

    Well researched. content

    ReplyDelete
  2. Dhanushka PathiranaApril 15, 2024 at 4:36 AM

    This blog post provides a comprehensive overview of the critical role of strategic HR management in driving organizational success.

    ReplyDelete

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