strategic human resource management
Strategic Human Resource Management
In this age of rapid technological development, the importance of human resources still holds the key to the development and progress of a company. Strategic human resource management is a new approach that helps in aligning the skills present in the employees with the goals to be achieved by the company.
- It helps analyze the opportunities and threats that are crucial, from the point of view of the company.
- It is possible to develop strategies and have a vision for the future.
- The need for competitive intelligence, which is of utmost importance in strategic planning, is fulfilled by means of implementing strategic human resource management.
- The attrition rate can be reduced, if strategic HRM is implemented properly. It also performs the important task of motivating employees.
- Development and maintenance of competency among employees, is the most important benefit offered by strategic HRM.
- It helps determine the weaknesses and strengths of the company, thereby enabling the management to take appropriate measures.
- It helps keep a check whether the expectations of employees are addressed properly.
- Business surplus is achieved by making the employees competent enough to deliver the goods.
- Resistance to change from the bottom line workers.
- Inability of the management in communicating the vision and mission of the company clearly to the employees.
- Interdepartmental conflict and lack of vision among the senior management in implementing the HR policies.
- The diversity of workforce that makes it difficult for the management to handle them accordingly.
- Conflict among the employees over the issue of authority and the related fear of victimization.
- The resistance from institutions such as the labor unions.
- Changes that take place in the organizational structure.
- The changing market scenario which, in turn, creates pressure on the effective implementation of strategic HRM.