Strategic human resource management aims to aid the companies in meeting employee needs. Human resource management or HRM is concerned with training, benefits, hiring and firing, pay and administration issues. The HR department also offers vacations and sick days, safety procedure information and work incentives.
Strategic HRM develops the human resource capital of a company. It mainly focuses on the long-term human issues of an organization and helps to create an organizational structure to adapt to changes like mergers, downturns and acquisitions. Strategic HRM also deals in emphasizing on application and betterment of the ethical issues, apart from managing the effects that the business processes are going to have on the society at large.
Strategic HRM includes −
Strategies for Organizational Leadership − Leaders and corporate executives play a pivotal role in achieving the goals of the organization. The selection and management of organization heads and executives is done by the HR department. Therefore, HRM plays a key role in aiding the business goals of the organization.
Strategies for Talent Growth − Human capital talent is by far the most important asset of the organization. It is the job of the human resource management for retaining and recruiting the best talent. Continuous development and training of the employees is also a major duty of HRM.
Strategies for Promotion of High Performance − Defining the performance measures is an important part of success of an organization. The workplace behavior has a major impact on the failure or success of an organization. HRM strategies are meant to offer the leaders an opportunity to come up with an organizational culture.
Planning Strategies − Strategic planning is the prime reason for success of an organization. Strategic HRM is extremely important for laying the foundations of strategic planning. HRM plays a big role in retaining top talent and determining the satisfaction of customers via employee satisfaction measurement processes.
Strategic HRM deals in −
Human Resource Planning − Small companies lack the resources in comparison to larger companies. HR managers must plan well according to budget and availability of resources. Instead of the benefit and training programs in smaller companies, it should offer an on-site training program for the employees.
Employee Development − Employee development is an important part of strategic human resource management. It starts with new employees’ recruitment. It is important to eliminate the applicants that are not suitable for the company.
Employee Training − Effective mentoring and training program is important in building up and orientating the new employees. Companies must make use of coaching, regular assessment and continual training programs to improve employee performance.
Improving Employee Performance − HR department that focuses on the development of the human capital of the company is a very essential part of an organization. It helps in improving employee satisfaction and performance.
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8 Lectures 1.5 hours