FBLT145 International Human Resource

HRM Strategy

Strategic Human Resource Management is defined as a future-oriented process to develop and implement HR programs addressing and solving business problems and directly contributing to major long-term business objectives. It is the connection among an organization’s human resources and its objectives, strategies and goals in relation to innovation, advance flexibility and competitive advantage along with organizational culture development (Cheng & Hackett, 2021). In business, it helps in overall planning to manage the human capital to align it with the business activities of an organisation. Also, it sets the direction for performance appraisal, compensation, hiring and development.

External factors affecting HRM strategy

External factors that affect HRM includes economic conditions, government regulations, workforce demographics and technological advancements. HR employees are responsible to address immediate problems while preparing for potential future challenges. In short-term, it is crucial to consider impending issues that relates to calculating withholdings, filing the appropriate forms, and more (Friedman, 2019). Moreover, long-term problems become short-term problems; for instance, an employee leaving an organization which leads towards the need for hiring a suitable replacement employee immediately. Also, there can be difficulty in the hiring process along with take long time while resulting in holding the company back and with less productivity (Underwood, 2020).

Internal factors influencing HRM strategy

In organizations, internal factors influencing HRM strategy includes mission, policies, organizational culture, organizational conflicts, organizational structure, and HR systems.

Formulation of an HRM strategy

To formulate an HRM strategy, the approach and considerations taken are successful and stable organizations, organizations with portfolio diversifications, entrepreneurial organizations expanding core capabilities, and organizations in fast moving ecosystems. It shows the importance of understanding the process of strategic planning, ensuring HR practices are designed for support the approach of an organization to strategic planning, and monitoring effectiveness of HR practices in support the planning and implementation of an organization’s strategy (Brockbank, 2017). It involves an approach to make decisions in relation to training and development, employment relationship, reward and employee relations, recruitment, and performance management; also, it includes human resources, being purposeful, pattern and plan, and activities.

HRM strategy adjustment

HRM strategy is adjusted in a way to accommodate for emergent situations where HR leaders adopt a complexity mindset in relation to make better decisions concerning challenges. It includes to craft the new HR strategies for the future, performance management, to develop optimal mental health practices for employees and reskilling and upskill them to meet demands of the future. This needs to develop a culture of trust, tap into the collective intelligence power and prioritise an organization’s values (Bingham, 2020). It includes helping and supporting plans of companies for emergency situations such as financial crisis. Also, it evolves in a way of manpower planning, personnel management and human resource management for accommodating for growing situations overall.

Vertical alignment

In strategy, vertical alignment is defined as a crucial factor in the strategy process as an HRM practice integration to convert management intention into changes in employee behaviour. Vertical alignment is based on strategic performance goals of an organization along with ensuring resources set up in place for contributing to its goals (Christina, et al., 2017). It requires every individual to understand an organization’s goals along with vision, mission and values, and is aware of the way their personal work contributes to these goals.

Horizontal alignment

In business, horizontal alignment is defined as an internal alignment of HRM practices with one another and in a manner that supports the goals of a company. It includes training systems, reward systems or work systems based on the types of HRM outcomes to achieve in relation to employee behavioural changes, commitment and competence impacting the organizational goals attainment (Ananthram & Nankervis, 2013). For instance, an organization investing in its recruitment processes significantly does not need to have an extensive training system in relation to technical benefits. Another example is of Asian organizations are required to set up plants in rural locations and small towns in the United States due to the reason of having the strong family atmosphere and group ethic in these environments at work can mirror roles of workers outside of the workplace (Muafi, 2014).

Workplace planning

In HR, workplace planning is defined as the process a company uses for analysing its workforce and determining the steps required to take for preparing concerning future staffing needs. Workplace planning is linked to HRM strategy in a way crucial for high-performing organizations (Louch, 2014). It has to be effective to succeed while making sure to designate a specific member of the HR team for managing the process, find a high-level executive to champion the plan, involving stakeholders in the process of workforce planning, and other ways.

Key HRM strategies

To support the organization in meeting its organizational objectives, the key HRM strategies included are learning and development, recruitment, compensation, performance appraisal, and succession planning (Vardarher, 2016). These strategies help in communicating values and vision through employee onboarding and training programs, leadership team discussions, and others organizational initiatives or objectives.

Measures to support the business

When it comes to supporting the business on possible long-term skills shortages, the measures to consider are investment in training, search expansion, to take on apprentices, rethinking the workforce, and focusing on staff retention (Fournier, 2020). There is a need of training existing employees, applying workforce skills in a distinct way while ensuring adaptability, re-evaluating an organization’s recruiting practices, partnership with closest educational facilities, and using contingent workers.

HRM considerations

To enable people and teams to re-engage and restart the working relationship after post pandemic, the HRM considerations included are to invest more in productivity tools and collaboration along with adjusting with social distancing practices while switching to remote work model including videoconferencing and e-mail, and more (Lewis, 2020). Along with digitization transforms, the way organizations leverage talent to help them build diverse workforces, analyse performance, improve teaming, and embrace flexible working overall.

Innovative Approaches

Innovative approaches to recruitment and retention includes employer branding innovations, candidate sourcing innovations, and candidate assessment innovations (Papa, et al., 2018). Other than this, it also includes post attractive and inclusive job advertisements, make use of social media, look for passive candidates, explore the possibilities of virtual reality, and more.

References

Ananthram, S. & Nankervis, A., 2013. Strategic agility and the role of HR as a strategic business partner: an Indian perspective. Asia Pacific Journal of Human Resources, 51(4), pp. 454-470.

Bingham, S., 2020. How HR Leaders Can Adapt to Uncertain Times. [Online]
Available at: https://hbr.org/2020/08/how-hr-leaders-can-adapt-to-uncertain-times
[Accessed 14 April 2021].

Brockbank, W., 2017. 4 approaches to strategic planning: what’s right for HR?. [Online]
Available at: 

Cheng, M. M. & Hackett, R. D., 2021. A critical review of algorithms in HRM: definition, theory, and practice. Human Resource Management Review, 31(1), p. 100698.

Christina, S. et al., 2017. Shut the fridge door! HRM alignment, job redesign and energy performance. Human Resource Management Journal, 27(3), pp. 382-402.

Fournier, J., 2020. 5  . [Online]
Available at: https://www.hcmworks.com/blog/5-ways-companies-can-address-a-skills-shortage
[Accessed 14 April 2021].

Friedman, E., 2019. 4 External Factors that Affect Human Resource Management. [Online]
Available at: https://blog.shrm.org/blog/4-external-factors-that-affect-human-resource-management
[Accessed 14 April 2021].

Lewis, N., 2020. HR Managers Rethink Their Role During the Coronavirus Pandemic. [Online]
Available at: https://www.shrm.org/hr-today/news/hr-news/Pages/HR-Managers-Rethink-Their-Work-Coronavirus-Pandemic.aspx
[Accessed 14 April 2021].

Louch, P., 2014. Workforce Planning Is Essential to High-Performing Organizations. [Online]
Available at: https://www.shrm.org/ResourcesAndTools/hr-topics/technology/Pages/Louch-Workforce-Planning.aspx
[Accessed April 2021].

Muafi, M., 2014. From Hr Strategy to Hr Performance in Rural Banking. Jurnal Keuangan dan Perbankan, 18(3).

Papa, A. et al., 2018. Improving innovation performance through knowledge acquisition: the moderating role of employee retention and human resource management practices. Journal of Knowledge Management, 2018, 24(3), pp. 589-605.

Underwood, D., 2020. Short Term vs Long Term HR Strategy. [Online]
Available at: https://blog.questco.net/short-term-vs-long-term-hr-strategy
[Accessed 14 April 2021].

Vardarher, P., 2016. Strategic approach to human resources management during crisis. Procedia-Social and Behavioral Sciences, Volume 235, pp. 463-472.

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