Strategic HRM: Trends, Factors, Theories, and Change Management

Strategic HRM

TABLE OF CONTENT
INTRODUCTION.................................................................................................................................3
Overview of company.......................................................................................................................4
LO1.......................................................................................................................................................4
P1 Key current trends and developments influencing company HR strategies..................................4
P2 External and internal factors influencing HR strategies and practices..........................................5
LO2.......................................................................................................................................................7
P3 Theories and concepts related to growth and development of strategic HRM..............................7
LO3.......................................................................................................................................................8
P4 Change management models support HR strategy in application to company..............................8
LO4.......................................................................................................................................................9
P5 Monitoring of HR outcomes.........................................................................................................9
P6 Evaluation of HR management and development which supports sustainable performance and
growth working company objectives...............................................................................................10
CONCLUSION...................................................................................................................................12
REFRENCES......................................................................................................................................13

INTRODUCTION
Strategic management involves formulation and implementation of major organisation
goals and implementation of various new initiatives which are taken by top management.
Aim of strategic human resource management can be understood as to potentially form
advance flexibility with strong innovation and wider competitive advantage goals which
enhances purposes of cultural working paradigm within company goals. Thomas and Cook is
one of the most globally renowned company within travel and tourism industry, which has
been actively focusing on its internal HRM strategies. It has developed best customer
oriented services and to evolve onto various dynamic competitiveness. The report will be
explaining key current trends within internal and external business environment which
influences HR strategies, theories and concepts related to growth and overall development
with focus on change management parameters. It will further discuss monitoring of HR
outcomes and evaluation of various new strategies which support sustainable performance
and growth working company objectives by bringing forward in depth analysis onto how
strategic HRM practices are the key criteria to be understood among company scenarios
(Colakoglu., Erhardt and Martin-Rios, 2019).
Overview of company
Thomas and Cook is one of the most globally recognised UK travel and Tourism
Company which has been serving people from all around world with various customised tour
packages and holidays and has been actively bringing forward various new innovative
services. Organisation has successfully succeeded various advance talent acquisition goals
and working scenarios within company standards for serving people with various adv
advanced travel and tour services It has been actively exploring varied working domains
among innovation and diverse cultural hemispheres to raise goodwill standards within
functional working standards for gaining higher revenue profits. Strategic human resource
management can be understood as one of the most widely growing concept within company
human resources and its working objectives to work on various strategies, objectives and
goals for gaining parameters which further develop wider advance functional scope among
company standards. Thomas cook HR strategies within company are actively focusing
strategic HRM which is also potentially keeping all employees retrained with high
satisfaction working synergy for longer term (Madera, Dawson and Belarmino, 2017).

LO1
P1 Key current trends and developments influencing company HR strategies
There are various new key trends and developments influencing HR strategies within
working parameters and to evolve varied functional synergy among new governing scenarios
while employing people based on their skills to evolve within demands of changing Travel
and tourism industry. Thomas cook has been focusing to indulge in various new HBR
development trends which are as follows for generating stronger stable turnover and higher
satisfaction among employees (Akter, Ali and Chang, 2018) :
 Workforce diversity and demographics: This is one of the biggest trend where all
employees are recruited based on their varied learning potentialities, skills and
working efficiency diversity and there is also productive enhancement based on their
demographics working synergy. This key parameter development has not only
evolved business functional strengths onto wider levels and to generate new goodwill
standards among wider domains where Thomas cook company will be able to cater to
wide consumers changing demands, within travel and tourism scenario. By focusing
onto building diversity and new technical goals of wider development employees will
be able to keep motivated. This also focuses for gaining stronger HR strategies at
organisation environment, for leveraging stronger fundamental quest goals which
motivates employees.
 Continuous training and development parameters: This significantly explains
importance within continuous training and development scenarios within company
levels for determining various new future potentialities for more diverse efficiency
and to be emphasising onto wider domains. Continuous training and development also
prominently enables management of all employees to be worked on with high
motivation standards, higher functional focused synergy among working goals and to
develop longer working governance within employees. Technology advancement: This is also one of the major parameter where technology
advancement shall be competitively taught to all employees within management
among working paradigms where there is vitally high demand among scenarios for
gaining functional innovation (Pasha, Ab Hamid and Shahzad, 2017). Technology
advancement enables to develop various new skills among employees and also train