Strategic Human Resource Management in the Digital Economy

Strategic human resource

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1)Conduct a review HR challenges faced by organizations due Covid- 19 pandemic conditions
.....................................................................................................................................................1
2) Explain how human resources management is instrumental in helping organizations to
move towards a new digital economy with examples.................................................................3
3) How remote working has affected talent acquisition and retention?......................................5
4) Examine performance evaluations and employee compensation and benefits as a result of
COVID-19?.................................................................................................................................6
5) What are the long -term implications of learning and development on employee
transformation.............................................................................................................................8
6) Outline how organizations are implementing employee engagement and employee well-
being program.............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Human resource management is refers to the strategic approach which has been
undertaken by the company to manage people effectively as this has been help company to build
and maintain competitive advantage. This has been associated with the maximizing employee
performance so that overall productivity and proficiency get enhanced. In addition to this
strategic human resource management is define as the future oriented process in which company
formulate and execute HR programs and approaches which address and solve problems along
with the contribute in accomplishing major long term goals and objectives. This has been
facilitate the alignment between human resource and overall strategy of organisation through
company is able to better responds to the customer's need and maintain strong competitive
advantage(Rees and Smith, 2021). The strategic human resources is induce within the
organisation is to advance flexibility, innovation and competitive so that managed human
resources can able to deliver best to the customers which leads to higher profitability and growth
in large market place. Along with this, for making the business survive and longer sustainable
and to manage the crises or uncertainty such as COVID-19, it is necessary for company to
manage its human resources in which they have formulate the strategy and work with full
potential to overcome crises.
The below report is based on the scenario of COVID-19 pandemic which has been
disrupted global economies and businesses. Moreover HRM has the significant role in helping
employee to overcome problems through unexpected changes in workplace. This report id
consist of various challenges face by the company during COVID-19, how it helps move towards
digital marketing, impact of remote working over talent acquisition and retention, outlook of
performance evaluation and compensation as result of COVID-19, implication of learning and
development and evaluation of employee engagement and employee well being program.
MAIN BODY
1)Conduct a review HR challenges faced by organizations due Covid- 19 pandemic conditions
HR professionals have not imagined the challenges which have been drawn by COVID-
19, this is the uncertainty that vital impact over the economy and develop stressful situation for
employees. HR professionals on companies trying at their full and best potential to keep
everything in perspective and aligned so that impact of uncertainty can be reduce as possible
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from company’s growth and success. There are various challenges which has been face by the
company during COVID-19 impact and major five are explained below:
Metal health and well being: The sudden crisis and shift in work culture has impacted the
overall employee health and well being. Organisations have always been initiated to implement
Wellness program and providing Employees with security health benefit and flexibility in order
to help them in overcome their health issues which lead to better job satisfaction and motivation.
But due to the sudden covid-19 outbreak has brought and impact their employees health as well
as mental problems which directly influenced the level of productivity (Crawshaw, Budhwar,
and Davis, 2020.). HR professional across the globe are trying their best to respond on health and
well being of workers with a major concern so that this issue can be tackle effectively.
Managing remote work: Before covid-19 pandemic attack less than 50% companies in
Marketplace are not working with the remote work program such as banking regulated industries
and many financial services company did not having remote working in their operations but now
all of them rushing to build remote work strategies in approaches so that negative impact on
working can be reduced. Which leads to and discovered many problems and issues in which HR
managers are trying their best to build Strategies and approaches to overcome challenges which
is brings by remote working providing employees right tools and collecting real time updates
from them so that productivity can be maintained.
Lack of agility: This is the one of the major reason through which HR managers are facing
challenges and struggling in maintaining operations of company. In this crisis of covid-19
important for company to respond fast and move quickly but this needs much approval to take
any actions which slow down the procedure of gathering data information and taking quick
actions which is demanded by the crisis. Due to this HR professionals are facing various
problems in managing operations with quick decision making for keeping business on track and
managing employees effectively.
Employee communication: Communication is the major challenge which is faced by HR
professionals during covid-19. As communication is the essential aspect that is need to be taken
into account for smooth running and working of operations in order to achieve goals and
objectives and a given time frame (Armstrong and Taylor, 2020). This aspect is critical and has
to be taken into consideration whether the work force is working remotely or not as without the
right communication channel it is hard to manage employees in adequate manner. For this HR
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