Human resource management is an approach that helps business organisations in managing their workforce and optimising their performances using important concepts, such as performance management, career development and management, training and development, etc. The basic objective behind human resource management is to ensure better productivity and efficiency by improving the work conditions for the employees and improving the employer employee relations.
ABC Company Pvt. Ltd. is a small scale enterprise that deals in consumer electronics retailing and has 65 stores throughout the country. It has an approximately workforce of 2,800 employees and is planning to redesign its human resource management strategies as it is expanding its operations in new cities. Therefore, in this assignment, we will design a human resource management strategy for the company.
Human Resource Management Strategy
In the present day scenario, the competition between business organisations has reached a global scale and it has become very difficult for companies to sustain in the market on the basis of their resources or processes as they are easily replicated. Thus, they now rely upon human resources to achieve market competencies. A human resource management strategy would allow a company to align its human resource objectives with its business strategies. Let us now discuss a human resource management strategy that would be focusing on recruitment, training and performance management.
The first and the foremost objective of the strategy will be to recruit the right talent for the right job and at the right time. The human resource strategy of the company will aim at recruiting the right number of employees and to carry out the recruitment function in alignment with the organisational strategy. The human resource management of the company will ensure that they are able to fulfil the human resource demands of the organisation and there is neither wastage of human resource nor shortage of human resources. The management will also ensure that the recruitment process is in compliance with all the legal and ethical considerations and there is no biasness or racism of any type.
The strategy will aim at managing the performance of the employees and combining potential appraisal with it. The management of the company will follow a strategy that will enable it to attach potential appraisal with performance appraisal. It will categorize the performance of the employees into 4 categories. The first categories would be of the employees with low potential and low performance and employees in this category will be warned for performance or will be considered for planned separation. The employees with high performance but low potential will be considered as solid citizens and they will be rewarded for their performance and will be encouraged to what they are best at. The next category of employees will be those who will demonstrate high potential but a lower performance and these employees will be shifted to new locations are departments to help eliminate their problems. The last category of employees will be those with high performance and higher potential. These employees will be trained and developed for taking up new or higher positions in the organisation and will be rewarded consequently (YourArticleLibrary.com: The Next Generation Library, n.d.).
The strategy will also aim at training and developing the employees. The performance and potential management objectives will also allow the company to include training and development in their strategy. When the company will try to manage the performance of its employees using performance and potential management programs, it will be able to assess the lacking technicalities or competencies of the employees. Consequently, the management will be able to arrange for such training and development programs for its employees that would help them in achieving the competencies that they will be lacking and will be identified during performance management (Workforce Magazine, 2016).
The human resource strategy of the company should be finalized and implemented as soon as possible. To implement the strategy, the company would first of all start introduce the recruitment program along with the performance management and potential management program for the existing employees. The performance assessments will be conducted on a regular basis and the company will hold an annual event where all the start performers of the organisation will be adequately rewarded. Once the company starts to make performance assessments regularly, it will automatically be able to identify the lacking competencies in the employees and as a result, it would also be implement the training and development part of the strategy and consequently the entire strategy will be implemented in the organisation.
"Developing And Implementing Strategic HRM Plans". 2016. 2012Books.Lardbucket.Org.
"How Do We Correlate Performance Management And New Training? - Workforce Magazine". 2016. Workforce Magazine.
"How To Evaluate Employee Potential? – Answered". 2016. Yourarticlelibrary.Com: The Next Generation Library. Accessed November 15.
"Human Resource Management". 2016. Inc.Com.