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Importance of Effective HR Strategies

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Added on  2020-01-28

Importance of Effective HR Strategies

   Added on 2020-01-28

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TABLE OF CONTENTSIntroduction .....................................................................................................................................3Task 1 ..............................................................................................................................................3Importance of effective HR strategies in getting competitive advantage....................................3Task 2 ..............................................................................................................................................5Importance and relevance of HRM..............................................................................................5Task 3 ..............................................................................................................................................9Role of recruitment and selection in increasing employee performance ....................................9Critical evaluation of training and development in increasing employee's performance..........10CONCLUSION..............................................................................................................................13References......................................................................................................................................142
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Illustration IndexIllustration 1: HR model................................................................................................................103
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INTRODUCTION In the present scenario, management of human resources has become one of the mostimportant and difficult tasks for the organization. The competitionCompetition among businessesin almost every sector has become so tough so that it is not easy to earn adequate profits.Companies are required to develop effective strategies related to human resources in order toaccomplish their aim and objectives (Avery and et.al., 2007). In order to gain competitiveadvantage over other market players, organizations needs to take care of their human resources.They are also required to provide them their employees with training and development programsat regular intervals in order to make them competent. The present report is based on Marks &Spencer's which is UK based multinational retailer which that deals in luxury food, home andclothing products. The report explains importance of effective HR strategies in gettingcompetitive advantage. Other than this, it also demonstrates the significance of managing humanresources due to changes in business environment. The current report also explains the role oftraining, selection, training recruitment and development in enhancing the performance of Mark& Spencer's employees. TASK 1 Importance of effective HR strategies in getting competitive advantageHR strategies can be defined as the action plan and policies which are framed by anabusiness enterprise to maintain and manage its human resources. Marks & Spencer's is a retailerwhich faces major competition from organizations such as Asda group, Next Plc and Tesco(Bakker and Schaufeli, 2008). Further, it can be stated that because of high degree of competitorcompetition, it is not easy for businesses such as Marks & Spencer's to attract new customers andretain its old ones. The brand is required to focus on development of effective HR strategies inorder to gain competitive advantage. Marks & Spencer's can easily accomplish all its aim andobjectives if the relationship betweenemployers and employee is good. Along with this,effective HR strategies also helps in understanding the need and demand of people at workplace.Thus, by meeting those expectations of workers, Marks & Spencer's develops a sense ofsatisfaction among them. This results in making employees more efficient and productive(Bohlander and Snell, 2006). Competitive advantage can be defined as a situation in which4
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