2.Discuss the role of the HR in the evaluation strategies?
3.Human resources planning determine the human resources required by the organisation to achieve its strategic goals. Discuss the approaches and to human resources planning?
4.The formulation of corporate strategy can be defined as a process for developing a sense of direction . Discuss the systematic approach to formulating strategy?
5.Human resources strategies once developed and implemented effectively, they can make a substantial impact on firm performance. Describe in what way can strategic human resources make an impact towards the organisation performance?
1.In the contemporary period, with the increasingly integrating and cognitive business environment in the global framework, it becomes mandatory for the commercial organizations to manage their human resources efficiently, to successfully implement any business strategy and in order to maintain competitive edge over their rivals (Cascio, 2018). The essential elements of the human resource strategy, in this context are as follows:
- To design the strategic framework in such a way that the individual expectations and performances of the employees remain in accordance to the overall organizational goals
- To ensure the presence of an overall productive, healthy and competent work environment in the company, which can help in encouraging the employees to work harder
- Enable and empower the employees by providing them provisions of relevant and skill development training, which by augmenting their capabilities can help in increasing their individual as well as the organizational productivity (Menon, 2012)
- To identify the points of threats and confusions among the employees regarding the concerned business strategy and to ensure dissemination of required knowledge and understanding among the employees regarding their job roles and responsibilities in this aspect
- To recognize the efforts of the hard working employees and design rewarding policies accordingly such that the employees remain motivated and focused to increase their efforts for their own professional betterment, which is expected to benefit the concerned organization in the long run (Jiang et al., 2012).
2.The evaluation of the success or failure of any business strategy of a commercial organization requires the assessment of the ability of the employees and their performances in this aspect, which is one of the primary responsibilities of the human resource management of the company. The roles, which the HR plays in this aspect, are as follows:
Ensuring training and skill development- The implementation of new business strategies in any organization in general calls for relevant training for the relevant employees. The organization and conduction of such training processes efficiently is one of the jobs of the human resource department. The evaluation of the capabilities of the employees post training also falls under the responsibilities of the same, which in turn indicates towards the readiness of the employees (Buller & McEvoy, 2012).
Recruitment- Often implementation of new business plans and strategies requires skills and capabilities, which are not present in the existing employee base of the organization. For the purpose of implementation of such plans, new employees are needed to be recruited. The responsibility of hiring such diverse workforces according to the requirement of the upcoming plans of the company also falls under the roles of the company.
Managing and Monitoring Capabilities- One of the primary roles of the HR is to continuously keep on monitoring the level of capabilities and strengths of the employee force in the company and to design and modify the employee engagement in different roles and sectors in such a way that the long term organizational goals are achieved (Berman et al., 2012).
3.The process of human resource planning in an organization is a process of continuous modifications and changes in the planning to use the human resources of the organizations optimally and cost effectively. The different approaches included in the human resource development are as follows:
Identifying present capabilities- The first approach is to analyze the strengths and weaknesses present in the existing organizational structure of the company, in order to understand the changes and inclusions required in the company, in terms of human resources, such that the future goals of the same are achieved.
Demand forecasting- The demand of the company, in terms of the human resources, to stay ahead in competition needs to be analyzed and forecasted based on the long term as well as short term goals of the organization. This in turn, helps in assessing the qualitative as well as quantitative labor demands of the company in the coming years (Nankervis et al., 2013).
Integration of plans- Depending upon the needs and current scenario of human resources in the concerned company, the human resource planning is integrated with the rest of the operational framework of the company. Subsequently budgeting and implementation aspects of the plans are designed in collaboration with all the departments of the organization.
4.The formulation of corporate strategies, in other words means the process in which the commercial organizations choose their best strategic framework in order to achieve the pre-determined goals of the same. The systematic approach of formulation of corporate strategy includes the following steps:
- a) Defining organization- The first step in the strategy formulation includes defining the organization, the markers in which it ventures and the demands and requirements of the clientele precisely.
- b) Defining mission- The strategic mission of the company also needs to be defined clearly, as it helps in providing guidance for execution of any strategic formulation and implementation.
- c) Identifying strategic objectives- The third step comprises of defining the long term as well as short term objectives of the company and of aligning the performance targets according to the same (Grant, 2016).
- d) Finding competitive strategy- In order to reach to the goals of the company the next step involves identification of the best and most competitive strategy. For the purpose of this the strength and weaknesses in the company also needs to be analyzed.
- e) Strategy implementation- The next step involves proper and efficient implementation of the selected strategy.
- f) Evaluation- The implementation of the selected strategy is followed by evaluation of the progress of the same in regular intervals so as to keep a close vigilance on the working of the strategy, which may help in bringing in modifications and inclusions as and when required (Wheelen et al., 2017).
5.The strategic human resource management in the commercial organizations in the contemporary period comprises of different actions, involving training and skill development of the workers, strategic and focused recruitment process, development of worker’s evaluation framework, monitoring of the performance of the workers, development of rewarding and recognizing frameworks for the hardworking employees. It is also concerned about the development of strategic plans in terms of human resources to improve the productivity and overall efficiency of the concerned organization (Jackson, Schuler & Jiang, 2014).
All these together helps in developing the human resource base of the concerned organization and in aligning the overall operational framework of the company with that of the long term as well as short term goals of the same. This in turn helps in increasing the productivity and performance of the organization in the continuously increasing competitive commercial framework in the global scenario.
Berman, E. M., Bowman, J. S., West, J. P., & Van Wart, M. R. (2012). Human resource management in public service: Paradoxes, processes, and problems. Sage.
Buller, P. F., & McEvoy, G. M. (2012). Strategy, human resource management and performance: Sharpening line of sight. Human resource management review, 22(1), 43-56.
Cascio, W. (2018). Managing human resources. McGraw-Hill Education.
Grant, R. M. (2016). Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Jackson, S. E., Schuler, R. S., & Jiang, K. (2014). An aspirational framework for strategic human resource management. The Academy of Management Annals, 8(1), 1-56.
Jiang, K., Lepak, D. P., Hu, J., & Baer, J. C. (2012). How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms. Academy of management Journal, 55(6), 1264-1294.
Menon, S. T. (2012). Human resource practices, supply chain performance, and wellbeing. International Journal of Manpower, 33(7), 769-785.
Nankervis, A. R., Baird, M., Coffey, J., & Shields, J. (2013). Human resource management: strategy and practice.
Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson.