Strategic HRM & Organizational Performance
Added on 2020-02-14
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STRATEGIC HRM
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................2QUESTION 2 ..................................................................................................................................2Part A: Identifying and explaining the main HR challenges faced by the companies inAustralia .....................................................................................................................................2Part B: Suggesting the HR strategies with an aim to overcome the assessed challenge ............6CONCLUSION ...............................................................................................................................6REFERENCES................................................................................................................................7
ILLUSTRATION INDEXIllustration 1: Major HR challenge..................................................................................................31
INTRODUCTION Strategic HRM is the practice which establishes link between the corporate strategy andhuman resource (HR) tactic of an enterprise. It is a new and evolving concept which depicts theimportance of human resources within firm (Davidson, McPhail and Barry, 2011). This essaywill showcase major HR (Human resource) challenges which are being faced by companies inone specific country. For this purpose, Australia is selected. In addition to this, the essay willalso depict strategies which can be employed by the respective Australian firms with an aim todeal with the major HR challenges that are being faced. QUESTION 2 Part A: Identifying and explaining the main HR challenges faced by the companies in Australia There are different types of challenges that are being faced by firms which are operatingtheir functions in Australia. In accordance with the given context, as per the human resourcemagazine of Australia's top ASX companies, attracting and retaining the talent within thecompany is being regarded as the major challenge. This challenge is being faced by most of theAustralian firms (HR's burning issues, 2016). The firms are facing challenges because of a verytight labour market. It is the type of market where job opportunities are more but individualswhich are required with an aim to perform the respective job are very less. Here, due to the tightlabour market, Australian firms have to put their double efforts on the work of carrying out therecruitment of talented and skilled individuals. However, with an aim to deal with the givenissue, some Australian firms are using the tactic such as employee referral. By using thisapproach, firms are able to manage some of their employee’s related demand. But, still manyAustralian firms especially the corporations which require skilled individual face the problem ofemployee shortage (Francis and D'Annunzio‐Green, 2005). For example, the given type ofproblem is also faced by one of the famous auto-makers of Australia named as Holden. Here, thefirm requires huge team of talented employees but it is unable to meet the given demand becauseof tight labour market. Furthermore, the mining sector of Australia is also going through with thegiven type of problem. This sector faces problem of skill shortage because of tight and stressfulwork schedule of the respective job (HR issues challenge Bowen Basin growth, 2016). 2
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