Everything You Need To Know About Strategic Human Resource Management
The reason behind the designing of strategic human resource management is to help companies to the meet the requirements of their employees whilst promoting company objectives. HRM generally deals with any of the business aspects, which affects employees including hiring and firing, benefits, pay, administration and training. Human resources could also offer safety procedure information, work incentives and sick or even vacation days. The overall principle of HRM is to assure that the organization is having the ability to accomplish success through individuals. Jose Tomas Anthem says that HRM system can simply be a source of organizational abilities, which enables firms to learn as well as exploit from new opportunities.
Particularly, HRM intends to:
· Allow the organization to gain and retain the committed, skilled and also well-motivated workforce, which it needs
· Improve and develop people’s inherent capabilities including their potential, employ-ability and contributions by means of offering learning and development opportunities in a continuous manner
· Build up high-performance work systems, which include scrupulous recruitment & selection procedures, training activities, performance-oriented management development and incentive compensation systems linked to the requirements of the business.
· Expand high commitment management practices, which recognize that workers are valued stakeholders of the organization, thereby helping to create an environment of cooperation & mutual trust.
· According to Jose Tomas Anthem, HRM aims to develop a climate in which prolific and harmonious relationships could be maintained via partnership between employees and management.
What is all about strategic formulation and implementation?
In general, any strategic process could be broken into two phases namely strategy formulation and strategy implementation. When it comes to a strategic formulation, it concerns with making decisions related to defining organization’s vision as well as mission, establishing short and long term objectives to reach the organization’s vision and choosing the strategy, which will be utilized to achieve the objectives of an organization.
On the other hand, strategic implementation will be concerned with bringing organization’s structure, processes and systems into line with the selected strategy. It engages making decisions with respect to organizational structure and matching strategy and offering organizational leadership significant to strategy and keeping track of strategy’s effectiveness in attaining organization’s objectives.
The process of designing, implementing and estimating business strategies is known as strategic management. Jose Tomas Anthem has defined the term “strategic management” as an approach by which organization plans to deal with several aspects of management such as problem perception, substantial resources, divergent thinking, innovations, decision making, facing uncertainty and taking risks.
Strategic HRM should try to attain a perfect balance between hard & soft elements. Almost all the organizations exist to accomplish purpose as they should assure that they possess the resources needed to do so by using them effectively. However, they should also take into account human considerations enclosed in the theory of strategic human resource management. In the words of Jose Tomas Anthem, they must plan by considering people in mind and the needs & objectives of all the members of Establishment.