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Human resource strategy

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Formulation of Human Resource Strategy

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Human resource strategy

  1. 1. Formulation of Functional Strategy: Human Resources Prof.PrashantMehta NationalLawUniversity,Jodhpur
  2. 2. Formulation of Functional Strategy: HRM Introduction Marketing Strategy Formulation Financial Strategy Formulation Production Strategy Formulation Logistics Strategy Formulation Research and Development Strategy Formulation Human Resource Strategy Formulation
  3. 3. Human ResourceStrategy Formulation • Assessing the Staffing Needs • Motivating the employees and Managers • Developing Performance Incentives (Link Performance to Pay) • Empowering the managers and employees • Linking company and Personal benefits is responsibility of HR manager. • Establishing and Administering Employee Stock Option Plan, Effective Childcare policy, providing leadership to balance work life and family etc. • Failure of HR strategies is attributed to three causes: • Disruption of Social and Political Structures • Failure to match individual’s aptitude with implementation tasks • Inadequate top management support for implementation activities.
  4. 4. Human ResourceStrategy Formulation • Strategy implementation poses threats to many employees in the organization. • New Power and Status relationships are anticipated and realized. • New formal and informal group values, beliefs, and priorities may be largely unknown. • Resistance behaviour by employees as their roles, prerogatives, and power in the firm change. • Disruption of social and political structures must be managed during strategy implementation. • Commonly used methods that match managers with strategies to be implemented include transferring mangers, developing leadership workshops, offering career development activities, promotions, job enlargement, and job enrichment. • Managers can built support-implementation efforts by giving few orders, announcing few decisions, depending heavily on informal questioning, and seeking to probe and clarify until the consensus emerges. Reward generously and Visibly.
  5. 5. Human ResourceStrategy • HR strategy implementation is critical and best method of preventing and overcoming HR problems is to actively involve managers and employees in the whole process. This approach builds understanding, trust, commitment, and ownership, and reduces resentment and hostility making organizations more competitive. • Align external treats with internal strengths. • Managing HR is key to success. • An organizations recruitment, selection, training, performance appraisal, and compensation practices have a strong influence on employee competence.
  6. 6. Human ResourceStrategy • Recruitment and Selection • Identify, attract, and select most competent applicants. • Training • Employees will be more competent if employees are well trained to perform their jobs properly. • Appraisal of Performance • Deficiency once identified can be solved through Counseling, Coaching, and Training. • Compensation • Attractive compensation more than competitors increase the competency of work force. Helps attract and Retain more capable people.
  7. 7. Strategy and Human ResourceManagement • HR strategy should reflect and Support the Corporate Strategy. • Good HR strategy involves selecting best talent, retaining, motivating, and empowering employees to perform well in direction of corporate objectives. • Strategic HR helps in improving business performance, develops organizational culture, fosters innovation, and flexibility. • HR strategic focus should be given on following points: • Pre selection practice including HR Planning and Job Analysis • Recruitment and Selection based on mission and purpose of the organization. • Post Selection Practice to maintain and improve job performance levels, Training and development, performance appraisal, compensation, and motivation should be based on corporate strategy of the organization.
  8. 8. StrategicRole of Human ResourceManagement • Providing Purposeful Direction to people within the organization right from the beginning. Actions of each person must be consistent with objectives defined. • Creating Competitive Atmosphere through COST LEADERSHIP which means the firms aims to become low cost leader in the industry. • Creating Competitive Atmosphere through DIFFERENTIATION which means the firms aims to become unique in the industry in terms of dimension that are highly valued by the customers. • Facilitation of Change– HR is more concerned with substance rather than form, accomplishments rather than activities, and practice rather than theory. Hr has to devote more time to promote changes than to maintain the status quo.
  9. 9. StrategicRole of Human ResourceManagement • Diversion of Workforce – Workforce diversity is challenge and is observed in terms of male – female workers, young – old workers, educated – uneducated workers, unskilled – unprofessional workers etc. Besides this caste, religion, and nationalities also play a key role where sometimes money is no longer a motivating factor rather it is high degree of participation and non financial incentives. • Empowerment of HR – It involves giving more power to those who at present have little control what they do and little ability to influence the decisions being made around them.
  10. 10. StrategicRole of Human ResourceManagement • Building Core Competency – Core competency is USP of firm and it can be in form of HR, Marketing capability or technology capability. Core competency generates competitive advantage and most business which do not have competitive character are divested thus leveraging the limited resources of the firm. It needs creative, courageous, and dynamic leadership having faith in organization’s HR. • Development of Works Ethics and Culture – Greater effort is needed to achieve cohesiveness because workers will have transient commitment to groups. Flexi time, Intrinsic Motivation, Vibrant work culture, developing atmosphere of trust among people, creative ideas etc will go a long way in sustaining work ethics and culture.
  11. 11. Human ResourcesStrategies • TALENT ACQUISITION • Recruit from Outside v. Internal Development • Require experienced, highly-skilled workers v. “we will train you” • Offer “top dollar” wages & benefits v. mentoring and a career • WORK ARRANGEMENTS • Individual Jobs v. Team Positions • Narrowly-defined jobs v. Positions with discretion and autonomy • On-premises Work v. Telecommuting Options • MOTIVATION & APPRAISAL • Extrinsic v. Intrinsic Reward Systems • Assessment for development v. assessment for rewards • Incentives for ideas & originality v. incentives for conformity?
  12. 12. StrategiesTo Avoid: Dumb Strategies FOLLOW THE LEADER - We can do that too…but maybe it’s not worth copying HIT ANOTHER HOME RUN - A pioneer company looking to get lucky again ARMS RACE - Battles which increase costs and decrease revenues DO EVERYTHING - Offering something for everyone…trying to please everyone LOSING HAND - Pouring $$ down the knothole…investment because of prior commitments NONE OF THESE STRATEGIES WILL CREATE A SUSTAINABLE COMPETITIVE ADVANTAGE FOR THE FIRM