A Review of the Significance of the Human Resources Strategy
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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There is a revolution of personal management into human resource management. This revolution has brought about a new concept of human resource strategy. Presently, human labor is the most important aspect of an organization as all the activities that take place are conducted and managed by the employees. Currently, several glitches and challenges in an organization are all related to a human being.
The Human Resource Manager is more interested in employee opinions, progress, set values, potentials, inspiration, and mindset health. Continual and common expansion in the global markets and technology have made it more challenging for higher managers to develop Human Resource strategies. For the manager to meet the competitive requirement of the market, he or she ought to get theoretical tactical skills and practices.
This is why the Human Resource manager ought to implement current training techniques so that employee productivity may be raised. The application of advanced technology at the workplace enables employees to reverse intensifying difficulties from the forthcoming technology.
The purpose of this report is to discuss the importance of HR strategy and its main trends and features. It is presumed that people are the most important human resource in an organization but also another debate provides that human resource strategy is central to how organizations achieve their competitive advantage. This report answers the following questions: What are HR strategies? What is the importance of HR strategy? What are the criteria for an effective Human Resource strategy? How should Human Resource strategies be developed? How should Human Resource strategies be implemented?
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A Review of the Significance of the Human Resources Strategy a Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand what is meant by Human Resource strategy, its nature and scope, and how it impacts the growth and development of an organization
- Understand the challenges that Human Resource strategy faces in an organization and the various possible solutions
- Understand how to apply the various Human Resource strategies to any organization
1.0 INTRODUCTION
Human resource strategies are described by Dyer and Reeves (1995) as bundles of human resource practices that are internally reliable and dependable to an organization. These strategies present to society what an organization intends to do about its Human Resource Management practices and policies and in what way they ought to be incorporated with the business strategies. This report is going to discuss the importance of HR strategy and its main trends and features. This report answers the following questions: What are HR strategies? What is the importance of HR strategy? What are the criteria for an effective Human Resource strategy? How should Human Resource strategies be developed? How should Human Resource strategies be implemented?
The primary aim of human resource strategies is to stipulate clearly an organization’s intentions about its human resource management plans and practices now and in the future bearing in mind a business ought to perform well now / present in order to be successful in the future / long run. Human resource strategies. The purpose of HR strategies is to fulfill both the needs of the business and employees in an organization. These strategies put out the intention and offer a sense of purpose and direction to an organization.
It is worth noting that since all organizations are different, all the strategies are also deemed to be different. There are a number of variations that were revealed by Armstrong and Long (1994) and Armstrong and Baron (2002) since it is well-known that there is no standard strategy.
Some strategies are general declarations of the intention of an organization whereas others are more detailed. However, there are two basic HR strategies that can be acknowledged namely;
1) General strategies such as high-performance working: these strategies refer to the overall system of Human Resource practices that an organization intends to take on so as to improve organizational performance in a business.
2) Specific strategies relating to the different aspects of human resource management: these Human Resource strategies set out what the organization intends to do in areas such as Human capital management, corporate social responsibility, and organizational development among so many others which are to be addressed in detail in this report.
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