Manage Human Resource Strategic Planning !

This article discusses the strategic planning process for human resource management, including analysis of labour supply, new technology, legal requirements, and risk management. It also provides insights into Walmart's HR practices and philosophy.

Running head: MANAGE HUMAN RESOURCE STRATEGIC PLANNING
Manage human resources strategic planning
Task 4
Name of Student:
Name of College:
Authors note:
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
Contents
Strategic and Environmental Analysis.....................................................................................................3
Labour Supply.........................................................................................................................................4
New Technology.....................................................................................................................................4
Industrial / Legal Requirements...............................................................................................................4
Philosophy of Human Resources.............................................................................................................5
Human Resources Costs and Benefits.....................................................................................................5
Human Resources Risk Management......................................................................................................6
Monitoring Human Resources Strategy...................................................................................................7
References...............................................................................................................................................7
Human Resources Strategic Plan
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
Strategic and Environmental Analysis
According to Ghazzawi, Palladini and Martinelli-Lee (2014), the most common analytical
method PESTLE analysis has been used in strategic and environmental analysis.
Political: corruption level, political stability, trade laws and tariffs, pricing rulings, wage
legislations are few factors affecting Walmart operating into international sphere distinguished
by separate political structures and varied models of governance. The scenario of international
trade and business is not equally welcoming in all countries owing to unfriendly political
environment while political disruptions, stringent trade laws and tariffs, economic instability etc.
affect Walmart’s business.
Economic: exchange rates and currency stability, economy’s growth rate, inflation rate, interest
rate, labour costs etc. are few factors affecting Walmart’s performance, which is directly
proportionate to markets economic stability. Developed economies bring opportunities while
downturn affects sales and profitability.
Social: Population’s demographics, culture, leisure interests, class structure and attitudes etc.
affect Walmart, bringing business opportunities by increasing its product offerings for satisfying
the preferences of different cultures
Technological: technology diffusion rate, impact of products/services, competitors’ technology
development, impact on cost structure and impact on value chain can influence Walmart R&D,
improving knowledge management system through technological advancement, automation and
can offer them great opportunities.
Legal: discrimination law, employment law, consumer protection laws, data protection and
health and safety law directly influence Walmart besides giving greater opportunities like
improving the quality standards.
Environmental: environment pollution laws, air and water pollution laws, waste management,
recycling and perspective towards green products are factors affecting Walmart. For businesses
globally sustainability has become a primary concern and Walmart achieves it through
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
improvement of operational efficiency, products policies and standards, and technological
innovation.
Labour Supply
While assessing Walmart’s labour needs for future, the key questions that are considered focuses
on the current gaps in skills, exact number of people required and what the type of employment
should be, full-time or part-time. The possible sources of labour supply are net migration in and
outside the market, workforces education levels, demographic change in population,
development and shift in technology, population mobility, skills in demand, national and
regional unemployment rates, government policies and regulations, and economic forecasts.
New Technology
Accroding to Poisat and Mey (2017), the world of human resources are given shape and
substance with the emergence of a wide range of new technologies like cloud-based systems,
mobile optimization, video job interviews, usage of talent websites etc. further transforming the
HR functioning where professionals earlier were stuck into manual processes or bulk data. New
technology has also impacted job roles and job design by giving ease collecting data, making
communication, minimal involvement employees, reduced complex procedures and liberty to
work from any location. In past too, adopting of new technology at Walmart has helped in
freeing up staff capacity besides increasing job satisfaction however, from the experience it is
learned that implementation of new technology should not lessen employees’ value and hence,
informs the current strategic planning activity.
Industrial / Legal Requirements
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
According to Jafari, Rahimi and Bayat (2017), every new financial year is not only a
tremendously busy time for most businesses in general but this period is also prime time for
employers reviewing their structure of employment comprising of influence of rise in minimum
wage and high-income threshold besides changes in workplace laws and modern awards, a
forthcoming change in employment legislation may affecting a business. These potential changes
in legal requirements will leave an impact on an organization where employees are covered by
enterprise agreement by paying the new national minimum wages.
Philosophy of Human Resources
According to Kraak and Story (2015), at Walmart employees are the heart of business and the
work culture are based on core values revolving around servicing to customers, respect of
individual, strive for excellence and acting with integrity. By aligning the business strategies
with HR practices by connecting people with products, creating a success oriented culture,
focusing on people for improving operational efficiency; protecting price advantage, driving
results through talent strategy and focusing on reducing expenses contribute in minimizing risks.
Moreover, employee training and development through mentorship programs, leadership courses
etc. is a continuous and indispensable part of HR coupled with employee health and well-being,
and financial benefits. Walmart is committed to provide safe, affordable, and sustainable food to
customers and treat animals humanely through its sustainable policies.
Human Resources Costs and Benefits
Walmart recognizes the contribution of better-paid, better-trained workers in giving the shoppers
better in-store experiences. Non-management workers on an average make $13.69 an hour. This
investment combining with training centres costs it around $2.7 billion. Offering better
opportunities and pay has not only increased profits but has benefitted the company by reduce
employee turnover, an increase of 75% of stores meeting the internal goals for customer services,
rise in employees spending at stores, improved scores in customer surveys and fall in operating
income owing to high labour costs and other investments.
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
Human Resources Risk Management
Human Resource Risk Analysis
HR Activities Potential Risk Mitigation Measures
Recruitment and Selection
Discriminatory practices
Hiring unsuitable or unsafe
candidates
"Wrongful" hiring
Employee brokers should
communicate the company’ pay
policy to applicants at the early stage
of recruitment process. For example,
by indicating in job vacancy
advertising and explaining it in first
interaction either through emails or
telephonic conversation.
Occupational health and
Safety
Environmental
Personal injury or death
By clearly communicating the health
and safety policy, prompt dealing
with hazards, making health and
safety part of company culture and
equipping employees for health and
safety.
Employee supervision Abuse
Reputation in the community
Release of personal
information
By ensuring managers are qualified
for coaching and leading, frequent
trainings, replacing dictatorial
behaviour with coaching correction,
having an open door policy for
employees voicing their concerns.
Employee conduct Abuse
Reputation in the community
Proving ethics training to employees,
establish strong foundation,
cultivating a culture of integrity in
top-down approach
Compensation and benefits Financial abuse By ensuring that for similar positions
compensation and benefits packages
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
are as nearly identical as possible.
Exiting employee Property
Reputation in the community
Compensation
By ensuring that positive handling of
redundancy consultation process,
developing a policy for ongoing staff
monitoring, training line managers
about the warning signs
Monitoring Human Resources Strategy
Steps in implementing the human resources strategic plan begins with starting the recruitment
stage where candidates possessing skills identified during the HR strategic planning process are
searched by the HR professionals under the guidance of HR Manager followed by organizing a
selection process involving telephonic and face-to-face interviews besides relevant tests for
assessing the suitableness of candidates in carrying out the roles. This is followed by beginning
hiring applicants where after all verifications and checks job offer is made to selected
candidates. In the final step on-boarding and training is designed by the HR Manager to
determine whether or not an employee stays with a company for increasing employee retention.
The plan once implemented is then monitored by analysing the human resources data such as
turnover data or responses of exit interviews. A timeline for reviewing the plan against the
predefined objectives is set for tracking the plan’s progress besides identifying the where
improvements can be made. In case of any loopholes or failures adequate corrective actions are
taken.
References
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MANAGE HUMAN RESOURCE STRATEGIC PLANNING
Ghazzawi, I. A., Palladini, M. and Martinelli-Lee, T. (2014). THE WAL-MART STORES, INC.:
AN AMERICAN DREAM THAT TOUCHED THE WORLD. Journal of the International
Academy for Case Studies, [Online] 20(1), 9-32. Available:
https://search.proquest.com/docview/1647822349?accountid=30552 [Accessed on 13 Nov. 2018]
Jafari, M., Rahimi, M. and Bayat, M. (2017). UNSTABLING IN THE LEGAL
ENVIRONMENT AND DECISION-MAKING PROCESS. Independent Journal of Management
& Production, [Online] 8(1), 170-192. Available: http://dx.doi.org/10.14807/ijmp.v8i1.503
[Accessed on 13 Nov. 2018]
Kraak, V. I. and Story, M. (2015). Guiding principles and a decision- making framework for
stakeholders pursuing healthy food environments. Health Affairs, [Online] 34(11), 1972-3A.
Available: http://dx.doi.org/10.1377/hlthaff.2015.0635 [Accessed on 13 Nov. 2018]
Poisat, P. and Mey, M. R. (2017). Electronic human resource management: Enhancing or
entrancing? SA Journal of Human Resource Management, [Online] 15 Available:
https://search.proquest.com/docview/1928616340?accountid=30552 [Accessed on 13 Nov. 2018]
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