Strategic Human Resource Management Flashcards
It is about deciding where you want to go and how you mean to get there.
Strategy
A declaration of intent: ‘This is what we want to do and this is how we intend to do it.’
Strategy
It defines longer-term goals but they are more concerned with how those goals should be achieved.
Strategy
It is the means to create value. A good strategy is one that works, one that guides purposeful action to deliver the required result.
Strategy
defines the organization’s intentions and plans on how its business goals should be achieved through people.
Strategic HRM
three propositions:
-human capital is a major source of competitive advantage;
- that it is people who implement the strategic plan;
- that a systematic approach should be adopted to defining where the organization wants to go and how it should get there.
Approaches to Strategic HRM
• resource-based strategy
• achieving strategic fit
• high-performance management
• high- commitment management
• high-involvement management
is in some ways an attitude of mind that expresses a way of doing things. It is realized in the form of HR strategies.
Strategic HRM
It means accepting the HR function as a key partner in the formulation of the company’s strategies, as well as in the implementation of those strategies through HR activities
Strategic HRM
: a departure from conventional/transactional HR practices
SHRM
: a future-forward approach
SHRM
can be regarded as a general approach to the strategic management of human resources in accordance with the intentions of the organization on the future direction it wants to take.
Strategic HRM
This will focus on the specific intentions of the organization on what needs to be done and what needs to be changed.
HR strategies
Involves aligning HR practices and policies with overall business strategies to drive the success of the company.
Strategic HR i
set out what the organization intends to do about its human resource management policies and practices, and how they should be integrated with the business strategy and each other
HR strategies
It sets out what the organization intends to do about its human resource management policies and practices, and how they should be integrated with the business strategy and each other
HR strategies
Specific HR strategies set out what the organization intends to do in areas such as:
-talent management
- continuous improvement
- knowledge management
- resourcing
- learning and development - reward
- employee relations
Criteria for an Effective HR Strategy
• one that works in the sense that it achieves what it sets out to achieve. In particular, it:
– will satisfy business needs;
– be founded on detailed analysis and study,
– is coherent and integrated, being composed components
– takes account of the needs of line managers and employees generally, as well as those of the organization and its other stakeholders.
is more about getting things done than thinking about them. I
Strategic HRM
It leads to the formulation of HR strategies
SHRM
It is desirable in order to give a sense of direction and purpose and as a basis for the development of relevant and coherent HR policies and practices.
strategic approach
Strategy: Tools and Models
• MBO – Management by Objectives
• SMART- Specific, Measurable, Attainable/Achievable, Relevant, Time Bound
• KPI – Key Performance Indicator
• BSC – Balanced Score Card
• OKR – Objectives and Key Results
Strategic HR Checklist
- It begins with the mind.
- You must have a plan.
- Alignment is the key.
- Focus on talent.
It begins with the mind.
• Proper mindset
• Cognitive skills
• Clear vision
