Strategic Human Resource Management Report: SHRM & Balanced Scorecard

This report provides an overview of Strategic Human Resource Management (SHRM), exploring its values, functions, and impact on organizational success. It examines the relationship between SHRM and the Balanced Scorecard, highlighting key performance indicators and strategic measures. The report discusses the importance of SHRM in fostering a positive work environment, developing strategies, and building employee confidence. It also emphasizes the role of SHRM in achieving sustainable competitive advantage and reducing errors within organizations. Furthermore, the report analyzes various theories and models of SHRM, ultimately concluding that the concepts of SHRM and the Balanced Scorecard are essential for success in the modern business world. The report references several academic sources to support its analysis.

STRATEGIC HUMAN RESOURCE
MANAGEMENT

INTRODUCTION
 The changes in the field of Human Resource
Management can be accounted for the scope
as well as functions required for developing
activities
 The assignment analysis the values
associated with SHRM and the link that exists
between SHRM and Balanced Scorecard
 Theories and models of SHRM are also
compared in the assignment

VALUE OF SHRM
 SHRM is the elusive target which can
help in the diversity of conceptual
status
 Future performance and status can be
accounted for with the application of
SHRM
 Organisational culture under SHRM can
be considered as sustenance and
creative
 SHRM deal with activities that help in

CONTD..
 The pattern of HR activities can be
considered with an increased opportunity
to achieve goals
 SHRM helps in the consideration of
approaches for the affiliation of behaviours
 It helps in the built of confidence among
the employees
 Implementation of strategies that can be
considered as safe are applied via SHRM

 SHRM can help organisations gain a sense of
direction and purpose
 Expertising of abilities and the values of an
organisation are taken into account
 Thus, SHRM possess positive impact on the
development of business
 SHRM deals with organisational structure,
culture and the manner in which positive work
environment can be promoted in organisations
CONTD..

 The aim of SHRM is to understand the value it
can provide in an organisation
 Sustainable competitive advantage can be
taken into consideration for the development
of a business
 Delivery of new ideas can be taken into
account with the application of the business
procedure for business
 This can help in reducing any errors in
organisations
CONTD..

LINK OF BALANCED SCORECARD WITH SHRM
 Balanced scorecard is a strategic
planning and management system
 Its link with SHRM can be associated
with the role it plays for maintaining an
effective relationship with employees
 The organisational level Balanced
Scorecard can be considered as key
performance indicators and strategic
measures

CONTD..
Organisational strategy employment in HR
Organisational strategy HR strategy Chief HR KPI HR manager KPI
Entering into new market and increase in
sales
Developing new marketing
team
Recruitment of marketing executives Cycle time for the recruitment of marketing
team
Recruitment of marketing executives
Training to enhance marketing
enhancement skill
Training marketing teams on new product
development
Training on communication/presentation
skills
Designing new policies for
marketing team
Designing incentive scheme for the
marketing team
List of marketing executives capable of
receiving incentives
Incentive amount that has been paid to the
marketing team
Developing HR policies for International
marketing
Marketing executives covered under the
international market
Incentive amount paid to international
marketing team

CONTD..
Typical HR Balanced Scorecard
Organisational strategic goal HR strategy HR Departmental KPI
Increase turnover and profits Enhance employee productivity Turnover per employee per month
Cost reduction and optimisation Optimise direct employee cost Wage cost per production
Administrative cost per production
Optimise contract labour cost Contract labour cost per production
Total cost reduction
Customer satisfaction Enhance internal customer satisfaction Internal customer satisfaction index
Process improvement Facilitate implementation of Performance
Improvement Projects (PIP)
Total PIPs registered
Total PIPs completed
Effective asset management Improve contract labour management Supply of contract workers for operations

CONCLUSION
 Hence, concept associated with SHRM and
Balanced Scorecard can help in the success
of modern world
 SHRM can be successful with the application
of sophisticated techniques
 Vision associated with SHRM can be
compared with strategic implementation
 Link between SHRM and balanced scorecard
can be considered as effective for resources

REFERENCE
 Brewster, C., & Hegewisch, A. (2017). Human resource management in
Europe Issues and opportunities. In Policy and Practice in European Human
Resource Management (pp. 1-21). Routledge.
 Brewster, C., Mayrhofer, W., & Morley, M. (Eds.). (2016). New challenges
for European resource management. Springer.
 Busco, C., & Quattrone, P. (2015). Exploring how the balanced scorecard
engages and unfolds: Articulating the visual power of accounting
inscriptions. Contemporary Accounting Research, 32(3), 1236-1262.
 Collings, D. G., Wood, G. T., & Szamosi, L. T. (2018). Human resource
management: A critical approach. In Human Resource Management (pp. 1-
23). Routledge.
 Cooper, D. J., Ezzamel, M., & Qu, S. Q. (2017). Popularizing a management
accounting idea: The case of the balanced scorecard. Contemporary
Accounting Research, 34(2), 991-1025.
 Delery, J. E., & Roumpi, D. (2017). Strategic human resource management,
human capital and competitive advantage: is the field going in
circles?. Human Resource Management Journal, 27(1), 1-21.
 Valmohammadi, C., & Ahmadi, M. (2015). The impact of knowledge
management practices on organizational performance: A balanced