Strategic Human Resource Management - Essay
7 Pages1766 Words58 Views
Added on 2021-05-31
Strategic Human Resource Management - Essay
Added on 2021-05-31
ShareRelated Documents
Running head: HUMAN RESOURCE MANAGEMENTHuman Resource ManagementName of the StudentName of the UniversityAuthor note
1HUMAN RESOURCE MANAGEMENTIn the current business scenario, the human resource management or HRM practices holdgreat significance. It enables success in global business environment. Strategic HRM is the mostimportant aspects of HRM that involves effective implementation of policies for meeting theobjectives of the organisation while aligning with the employee requirements. The essay manyfocuses in the three of the HRM practices that are retaining and developing talent and managingcareers; reward management and performance management. An important goal of the HR managers is to retain the highly skilled and talentedemployees. Securing effective workforce is the objective of every business. There are differentstrategies used by HR to prevent individuals leaving job in first place. It includes creating openand honest work environment, connect the employees work to higher purpose, and create growthand learning opportunities as well as stimulating work environment (Larsen, 2017). Thesemeasures have been found to motivate employees and turn productive in long run. It has beenfound to increase the business return on investment. These measures have been found to beeffective in increasing employee engagement as they get sense of pride in what they do. Thebenefits of the company includes effective management of employee turnover, enhancerecruitment, cost effectiveness and increase staff morale (Armstrong & Taylor, 2014).Improving the growth opportunities will stimulate the employee’s purpose to stay withorganization and work in alignment with company’s objectives. In turn this gives the business,a competitive advantage. The employees perceive that they have long term benefits and canachieve higher level needs based on these benefits like promotions. This is in alignment with theMaslow’s hierarchy of needs where satisfying one needs allows to meet the needs at higher levelof pyramid (Jonas, 2016). Automatically such motivation also fulfills the business needs.
2HUMAN RESOURCE MANAGEMENTPerformance management is an important process of reviewing the performance of theemployees in the preceding year and deciding where he or she stands when compared to theirpeers in same band. It allows the HR managers to decide the salary hike in a particular appraisalcycle (Shields et al., 2015). There are several measures to align the performance management tomeet the strategic business objectives and the employee needs. Performance reviews and ratings are age old methods. The former is known to beawkward and biased. Feedback involves long waiting times while the ratings are donesubjectively without input from people being evaluated. Since performance is the value ofemployees' contributions to the organization over time, there must be formal evaluations (Goler,Gale & Grant, 2016). There was no better solution found after ditching the methods like 360degree, rankings and even annual reviews. The conventional wisdom of performancemanagement is questioned by HR managers as well as employees. It calls for the strategic HRMpractice that will help recognise the varying performance and clearly view the same anytime forboosting the performance. Applying the Theory X, a hard model can be used for varyingemployee needs based on control and economic model. According to Theory Y, soft model isbased on commitment and control (Clegg, Kornberger & Pitsis, 2015). The strategic HRM practice of Deolitte effectively addressed this issue by performancesnapshot taken quarterly or per project allowing greater engagement with people. In this simplemeasure of the Deolitte the rater can rates own actions instead of the qualities of the ratee. Thequestions may be designed for promotion, teamwork, pay and about poor performance inalignment with theory of X and Y. To ensure charity and simplicity the rater can be chosen fromteam leaders as they are closest to the employees. Further, Deolitte focuses on the validitytesting and transparency (Buckingham & Goodall, 2015). Such effective performance
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Human Resource Management: Concepts, Models, and Strategieslg...
|13
|3974
|274
Strategic Human Resource Management.lg...
|14
|4034
|85
Human Resource Management - Amazon and FedExlg...
|16
|5552
|25
Human Resource Management Assignment | Bentley Motorslg...
|8
|2337
|215
Key Elements of Human Resources Managementlg...
|12
|2670
|295
Strategic Human Resource Management: Role, Strategies, and Balanced Scorecardlg...
|8
|2438
|500