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Wednesday, 18 October 2017

1. Discuss all the elements of strategic Human Resource management 2. Why is human resource management vertical in organizational success







INTRODUCTION
Greek word ‘strategos’ – generalship – the actual direction of military force as distinct from the policy governing it’s deployment. Literally therefore, the word strategy means the art of the general, but in business parlance, no definite meaning attached to strategy.  Strategic human resource management (strategic HRM) defines how the organization’s goals will be achieved through people by means of HR strategies and integrated HR policies and practices.

A strategy could be:
A plan or course of action or a set of decision rule making pattern or creating a common thread. The pattern or common threat related to the organization activities which are derived from the policies, objectives and goals.

FUNCTIONAL STRATEGY AREAS
 In business organizations, the identified functional strategy areas are:
Ø  Human Resource Management
Ø  Operations
Ø  Production
Ø  Finance
Ø  Research and Development
Ø  Marketing

STRATEGIC HUMAN RESOURCE MANAGEMENT
Human Resource Management known as personnel management deals with formal systems for managing people at work.  For that reason, it is one of the fundamental aspects of organizational and managerial life.
Your  first formal interaction  with an organization  you wish to join will likely  involve  some aspect of its human resource function; and throughout your career as a manager you will be part of, as well as be affected by your organization’s human resource management. Firms can create a competitive advantage when they possess or develop resources that are:


Ø  Valuable
Ø  Rare
Ø  Inimitable
Ø  Organized
THE STRATEGIC IMPART OF HUMAN RESOURCES:
Create Value
People can create value through their efforts to decrease costs or provide something unique to customers or some combination of the two


Empowerment programmes total quality initiatives and continuous improvement efforts such as Corning and Xerox are intentionally designed to increase the value that employees bring to the bottom line.
Is Rare
People are a source  of competitive advantage which their  skills, knowledge  and abilities are not equally available to all competition.  Top companies invest a lot to hire and train the best  and the brightest  employees to gain advantage  over their  competitors. 



Dow Chemical went to court to stop General Electric from hiring away its engineers. This case shows that some companies recognize both the value and rareness of certain employees.
It Is Difficult  To Imitate
People are a source of competitive advantage when their capabilities and contribution cannot be copied by others.
 It Is Organized
 People are a source of competitive advantage when their talents can be combined and deployed rapidly to work on new assignment on a moments’ notice.  Team work and cooperation are two pervasive methods for ensuring an organized workforce.
The above four criteria highlight the importance of people and show the closeness of Human Resources Manager to strategic management.



Ø  Competition in intensifying

Ø  Rising  educational standards and access to technology  are increasingly available  world-wide


Innovation – useful new ideas that emerge from the focused creativity of organization members has become ever more critical to gaining and maintaining competitive advantage. Because employee skills, knowledge and ability are among the most distinctive and renewable resources on which a company can draw, their strategic management is more important than ever.


Increasingly, organizations are recognizing that success depends on what people know, that is their knowledge and skills.  The human capital or more broadly intellectual capital often is used today to describe the strategic value of employee knowledge and abilities.  As executives have come to appreciate that employees can be their organization’s most important resources, human resources managers have pledged a greater  role in contributing to the organization’s strategic  planning, that means that human resources (HR) specialists are challenged to know their organization’s business and line managers are challenged to excel at selecting and motivating the best people.



As contributor’s strategy, Human Resource managers also face greater ethical challenges.  When  they were merely a specialized  staff function, they could focus  on, say, legal requirements for hiring decisions, but strategy decisions require them to be able to quick decision about staffing, training and other human resource matters to the organization’s business success.


For example, as members of the top management team, human resource manager will be faced with the need for drastic downsizing  of the workforce while still retaining top executives through salaries or bonuses or they may fail to aggressively  in investigate and challenge corrupt practices  of colleague.  In the long-run, however, organizations are best served  when human resource leaders are a strong  advocate  for at least four set of values: strategic, ethical, legal and financial

Managing human capital to sustain a competitive advantage to perhaps the most important part of an organization’s human resource function.  But on a day-to-day basis human resource managers also have many other concerns regarding their workers and entire personnel puzzle. 


These concerns include:
Ø  attracting talent
Ø  Maintaining a well-trained, highly motivated and loyal workforce
Ø  Managing diversity
Ø  Devising effective compensation systems
Ø  Managing layoffs and;
Ø  Containing healthcare and pension costs. 

The Nuts and Bolts of HRM
Ø  Strategic Human resource management
Ø  The HR Planning Process
Staffing and Organisation
Ø  Recruitment
Ø  Selection
Ø  Workforce reduction
Developing the workforce
Ø  Training and Development
Performance Appraisal
Ø  What do you appraise
Ø  Who should do the appraisal
Ø  How do you give employees feedback
Designing Reward system
Ø  Pay decision
Ø  Incentive systems and variable pay
Ø  Executive pay and stock options
Ø  Employee benefits
Ø  Legal issues in compensation and benefits
Ø  Health and safety


Labour Relation
Ø  Labour laws
Ø  Unionization
Ø  Collective bargaining
Ø  What does the future hold
The Human Resource Planning Process occurs  in three stages
Ø  Planning
Ø  Programming and
Ø  Evaluation
Human Resource Managers need to know the organization’s business plans to ensure that the right member and types of people are available where the company is headed  in what business it plan to be, what future growth is expected and so forth:
Few actions are more developing to more than having to lay off recently hired college graduates because of inadequate planning for the future needs.
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