Unlock 5 Principles of Strategic HR Management for Lasting Success
Table of Contents
- jaro education
- 15, December 2024
- 4:00 pm
How are you going to rate your company’s HR Management strategies? Average? Top-level? Or Mediocre? Now, you must be wondering why we’re even asking about your HR strategy, right? Give us a chance to explain.
Most people might still perceive the HR department as simply responsible for recruiting new talent, onboarding employees, or, well, yes, organising Fun Friday – a perception that hardly does justice to the important role HR plays in modern businesses. But let’s give you a much-needed reality check.
The role of the HR department has evolved significantly over the years, transforming from a mere “hire and fire” function to becoming a crucial strategic part of the business. HR professionals now serve as essential partners in driving organisational growth, managing employee engagement, and aligning human capital with the overall business objectives. But juggling with all these responsibilities, there may be circumstances where some important information can be overlooked. And right here comes a proactive strategic human resource management approach – a practice to align HR activities by fulfilling organisational objectives.
In this blog, we have outlined what strategic human resource management is and the five major principles that help build a thriving work environment.
What is Strategic Human Resources?
Strategic human resource management is a process of creating programmes and policies that meet the requirements of a company’s business strategy. It mainly focuses on the following outlook of HR operations:
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- Maintaining practices that promote flexibility and provide ambitious advantages to the organisation.
- Boost business performance
- Creating a cultural fit for the company
*keka.com
The above image is the representation of how the term “SHRM” has evolved through time.
Keep in mind: the only thing that is constant in life is change. And that is never more applicable than in a working environment. Generally, strategic HR management is an ambitious plan. But that’s not to say it is the final answer; rather, you should review and adjust with flexibility by updating your strategy so that it better meets the needs of the organisation, as well as other external considerations.
5 Steps to Strategic Human Resources Management
Now that you know what strategic human resource management is and why it’s important, you may wonder how to get started. Remember, it is more than just aligning HR practices with business goals; it’s all about a comprehensive strategy to ensure the right talent is placed in the right place that supports growth. Given below are some of the key strategies that can help any firm to build a strong and competitive workforce.
1. Know Your Company's Goals and Abilities
As the saying goes “a successful company is the one who sticks to their goals”. So, the initial phase is to recognise the goals, vision, and mission. Strategic human resource planning helps you understand your company’s abilities and goals, you can confidently articulate them. Also, you will have enough time to create programmes and policies that help to achieve that. You will also be more productive in amending programmes and measuring their success.
Given below are some of the questions, answering these will help you to clearly figure out where your organisation is headed:
- What are your company’s long-term goals?
- What are your company’s strengths and weaknesses?
- What resources does your company have now?
- What skills does your workforce currently have?
- Are there any gaps in talent or skills?
2. Forecast Future Needs
Now, you have understood your company’s goals, vision, and mission. It’s time to consider future needs. You might be wondering why you should worry about the future in the present. The answer is – to ensure the company’s continued success, you need to analyse and forecast how many employees with the necessary skills will be required. You have to measure your current workforce and work to bring those skills into your team.
This proactive approach will not only help you fill gaps in expertise but also enhance overall productivity and adaptability. By anticipating future needs, you’ll be better equipped to respond to market changes, innovate effectively, and maintain a competitive edge. Ultimately, investing in your workforce today lays the foundation for a thriving organisation tomorrow.
3. Determine The Resources Needed To Achieve Company Goals
Once you have clarified the goals of your business and needs for future growth, the next step is to identify the resources required to meet these objectives. This involves assessing every financial, human, and physical resource that might be required. For example, if you wish to launch a new product, see the financial investments needed for development and marketing. Also, consider whether you have the right talents in your team. Are the right people given the skills to take the product to the market successfully? What budgetary funds will your company need to achieve its objectives?
One way of getting this information is actually conducting an audit of both your internal and external resources. This should give you some estimate of which kind of resources are available to you for achieving your objectives and where you might need to supplement.
4. Implementing HR Strategy
A strong layout between HR initiatives and the organisation’s goals and objectives is essential. HR and senior management, in consultation with key stakeholders, should be aware of the general company goals and strategies and how HR can support achieving them. More strategic HR initiatives will be effective when they align with the organisation’s primary objectives.
Plans should be made to attract top talent and ensure a cultural fit with the company’s values and objectives. To achieve this, there are some possible steps, such as HR branding campaigns, implementing targeted recruitment strategies, and including innovative sourcing approaches. The Human Resource Manager should be more focused on hiring talented individuals with the right experience, education, and unique traits to drive the organisation toward future high performance.
Here are a few things to keep in mind when executing your SHRM plan:
- It is essential to set the maximum possible dates and achievable targets. Trying to do too much in too little of a stretch, may become overwhelming, leading to mistakes
- Observe the level of buy-in coming from upper management. If the upper level does not give a thumbs-up for your strategic human resource management scheme, it would be rather hard to get everyone else to go along.
- Find a way to effectively communicate with your workers. Employees must be made aware of the strategic human resource management plan and how it will affect their lives. This will encourage them to take the plunge and cleave to common objectives.
- Be prepared to change your plan. With every plan, there is always the not-so-pleasant possibility that things may not go quite as you set them. This means that you will have to prepare to make changes to set your company rightly in line with reaching its ultimate ends.
5. Asses the Process
All your work in strategic human resource management will not be complete without an ongoing assessment of progress, including what is working and what is not. Based on this assessment, some changes may need to be made to your plan. For instance, as mentioned above, you might need to adjust your recruiting strategy if you are not satisfied with the outcome. Similarly, if you find that your training programmes are ineffective, modifications may be necessary there as well.
Remember, this is not a one-time exercise; it is a process that must be revisited repeatedly to align with the evolution of the company and your shifting SHRM needs.
Want To Become A Successful HR Business Leader?
Does a strategic HR professional fascinate you? Or do you think that managing people and resources can be your strong skill? It’s time to upskill in the world of work by enrolling in the Post Graduate Certificate programme In Strategic Human Resource Management from IIM Trichy.
IIM Tiruchirappalli (IIMT) – A premier institution of management that houses a strong postgraduate programme in management and doctoral courses and specialised programmes for working professionals. With diversified faculties of more than 48 experts from around India and abroad, IIMT ensures excellence in management education.
The Post Graduate Certificate programme In Strategic Human Resource Management, offered by IIM Tiruchirappalli, has been designed to fulfil the mission of executive education by providing quality management education to participants. The programme is highly interactive and curated based on the demands of the modern world corporate world. The course duration is 12 months – and during this, one can get great exposure to a blend of case studies, workshops, and experiential learning using projects and lectures.
Programme Highlights:
- You will receive a prestigious certificate from IIM Tiruchirappalli.
- Get a chance to engage in interactive online classes for optimum learning.
- Gain alumni status in the notable network of IIM Trichy.
- Networking with peers across industries-Connect with professionals across industries to build your
How Jaro Education Can Help You Reach Your Career Goals
Jaro Education is one of the leading online higher education and upskilling companies offering career counselling and academic support to every individual. Being in the industry for 15+ years, we have transformed the careers of over 3 lakh professionals. The company also aims to nurture working professionals by offering executive programmes that meet their requirements. In addition to this, we act as a marketing and technology partner for some programmes offered by prestigious IIM and IITs.
If you’re enrolling in the Post Graduate Certificate programme in Strategic Human Resource Management through Jaro, you can reap the career booster benefit. This includes:
- Resume Building: Carefully create resumes that meet organisation standards, assuring that your skills and achievements are pitched accordingly.
- LinkedIn Profile Optimisation: We offer tailored suggestions to build your virtual professional presence, especially on LinkedIn.
- Career Enhancement Sessions: Our unique Jaro Connect platform offers corporate engagement with boot camps and masterclasses from experienced industry leaders.
Final Thoughts
Strategic human resource management is one of the most important parts of any organisation, and it helps companies achieve their goals by understanding their workforce. So, if you want to build your career or boost your professional skills in HR management, it’s time to enrol in the Post Graduate Certificate pogrammeme In Strategic Human Resource Management from IIM Trichy through Jaro Education.
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