Strategic HR Management
HRM is closely inter related with the strategic management. Effective implementation is possible only with motivated people. Infact acquiring competitive advantage by providing best products and best service at the best price is possible only by having only best people
The core corporate strategies mentioned above and successful implementation of these strategies depends on the HRM strategies as mentioned hereunder.
Strategies of offering best products require best people. The HRM strategy in this case include ,
Employing the people with original and creative skills providing resoures for experimentation and minimization of controls.
Encouraging employees for risk taking.
Empowering the people.
Retaining competent and innovative brains.
Providing training and development facilities for skill building.
Integrating performance analysis and development and reward system to the long run corporate objectives, mission and vision.
Strategies of offering best service: Corporations compete with the best service package. The vital factor in the package is the Humaan Resource. The HRM strategies in this case include :
Employing people with right mixture of initiative and skill
Developing multi-talented team players
Providing environment free from precedents, established procedures etc.,
Initiate the employees to stay at the forefront of a new paradigm and techniques.
Train the employees continuously to keep their knowledge levels in line with the latest developments.
Link the appraisal and reward systems to the level of customer satisfaction.
Strategies of selling at the best price: selling the product at best price is possible by producing the product at low cost. Producing high quality product at low cost is the best strategy in the market economy.
The HRM strategy relevant to such corporate strategies include:
Employing nthe workforce with creative skills in developing technology and methods of minimizing cost.
Trimming the workforce to cut the costs
Managing the organizational exit policy strategically
Moulding the employees attitudes towards low risk taking and cost cutting
Linking the rewards to the level of cost reduction.
The post liberilisation, competition and globalization brought changes including transforming organizational practices and process. HRM strategies for Modern corporations can be as under:
Employ people with most appropriate human resources. Create corporate ulture for individual excellence.
Employee development for broadening their roles.
Reward the people for meeting organizational goals
Manage organizational exit for those whose resources are obsolete.
Ensure that the mind set of people is receptive to change
Facilitate management initiatives.
Manage cultural transitions like mergers and alliances
Replace top-down interventions with company wide participation.
HRM strategies must be reviewed continuously with changing business scenario by HR managers at the helm of company’s HR management. The strategies must be made flexible so that whenever some changes are required they can be implemented in the shortest possible time.