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Strategic Human Resource Management (SHRM)

   

Added on  2020-06-06

11 Pages3243 Words406 Views
Strategic Human ResourceManagement

Strategic management can be defined as managing company's resources in such a waythat leads to achieve overall goals and objectives effectively. Manager undertakes the bundle ofacts and decisions which result in determining the actual performance of firm (Van Buren,Greenwood and Sheehan, 2011). Strategic management is all about how administrator plans forboth foreseeable and impractical contingencies. It refers to the art of managing workers in asystematic way which maximizes the competency of accomplishing business targets. It is theblueprint of strengthening position of business entity, pleasing consumers and attainingperformance goals and targets effectually. The main purpose of Strategic Management is to make business enterprise able tocompete with its rival in an effective way. It provide broader view and understanding to theemployees regarding their fit-ability in the organisation. It focuses on increasing the productivityand ability of personnel who works in order to achieve the company's objective effectively. Strategic human resource management is an element of strategic planning that maintainsbalance between company's internal strength and weakness with its threat and opportunities thatare available externally. SHRM means executing and formulating practices and policies relatedto human resource that improves the skills and competencies of employees and behaviours thatbusiness needs to attain its strategic objective (Tooksoon, 2011).Strategic industrial relation refers to an approach that examine the strategic choicesproposed employers, workers. It centred those choices that leads to achieve individual as well asorganisational objective effectively. Strategic Management helps to gain competitive advantagefor the company which serve as a benefit over their rivals. It makes the firm competent enough todeal with its competitors in a structured way. Managers often made strategies in terms of Safety,Retention and Grievance. It can be developed on three different level: Business Strategy, This unit covers the strategic issues in terms of gaining competitiveadvantage for the firm over their rivals. Company can use differentiation, focus and costleadership in order to create higher competitiveness level. For positioning themselves betteragainst competitor, managers are required to anticipate dynamic changes accordingly. 1

Functional Strategy, In this, strategic issues are related with value chain and firmprocesses. At this level, managers provide resources to business or corporate unit which helps inachieving overall organisational goal effectively. Corporate Strategy, It is concerned with managing business activities andinterrelationships. It ensures long term success by assisting the business portfolio in aconstructive way. There are various government policies which are related with maintaining balancerelationship between employees and employer and encourage better relationship withinworkplace which companies are required to adapt or follow. For instance, Australian companyfollows Fair work act, 2009 in their business practices (Storey, 2014).Organisation formulate strategies which is related with the occupational safety and healthof employees. It determine the migration risk which may adversely affect the company ongoingoperation and practices. Therefore, firms require to establish effective strategies that minimizethe risk factor and protect personnel from illness and injury at the workplace. Managers arerequire to make strategies concerned with employees and employer welfare in such a way thatleads to attain the company’s goal effectively and also benefits them to grow personally andprofessionally.The main aim of strategic management in education is to assess and explore sustainablechanges which can be done for increase knowledge of employees and removing theirshortcomings. In strategic management, formulation and execution of major objectives andinitiatives are taken in account by top administration on behalf of owner. The goals are based onresource consideration and review of external and internal surrounding in which the firmcompetes. Strategic planning administer overall direction of the company which includesspecification of organisation's objectives, plans and policies formulation. In order to achievethese goals and allocation of resources they focus on effective execution of plans. (MartínAlcázar, Miguel Romero Fernández and Sánchez Gardey, 2013).Human resource management play an important role in the management of resources.Effective and efficient utilization of these resources helps in accomplishment of goals andobjectives of the firm. Strategic or Human resource planning in education is the transformationof management in order to enhance basic education, imply long term change procedures with aset of activities performed by the staff members in educational department. Strategic educational2

management leads to develop and strengthen various ways in order to improve efficiency andeffectiveness to achieve equity and relevancy of educational activity. The present scenario of change educational need to be assessed to explore sustainableenhancement as it is the priority in management of education. Changes are emphasized onestablishment of education and improvement to attain sustainability. Professional developmentof human resource and learning processes are related with strategic management. Sustainableimprovement is the main objective of educational management. The process of human resourcemanagement hiring and development of employees so that they become valuable assets of theorganisation. Industrial relation is related to relationship between administration and humanresource. Personnel management includes all the activities which an organisation undertakes toensure optimum utilization of workforce towards the achievement of organisational, group andindividual goals. Strategic management and human resource planning are interrelated with educationalneeds. Organisation should identify the needs of the employees and provide them appropriatetraining so that they become able to perform effectively at workplace. It is necessary to establishgood relationship between employer and employees so that it assists in the betterment ofindustrial relation. The firm should ensure to provide safe and healthy environment to itsemployees at workplace so that they stay motivated and work enthusiastically towards theachievement of goals and objectives of the organisation. Performance Management can be defined as a process of creating healthy workenvironment which encourages the employees and employers to perform their best in achievingthe overall organisational goal. It is about how managers monitor the performance of theirworkers and review their performance. In the modern scenario, HR Manager is bound to performactivities related to raising employee motivation and enlargement of high performance leaders.Company's set certain benchmark on the basis of which they assess the performance of theirworkers. According to Lengnick-Hall, Beck and Lengnick-Hall, (2011) It refers to the systemthat generate clear cut job description and select right pool of people for the job who contributesenough to achieve target of the company effectively. It help the personnel to understand whatfirm is expecting from them. They are require to work according to the defined standard set bythe entity. Regular coaching and feedback serve as an advantage in terms of assessing theproblem and taking corrective measures at an initial stage. 3

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