Strategic Human Resource Management (Strategic HRM or SHRM) means acquiring, managing and developing employees and other human resources in accordance with corporate / business strategy and long-term organizational goals. Show
The main idea behind strategic HRM is to go beyond the daily duties and administration of HR (maintaining personnel records, managing benefits, ensuring compliance…) with a more strategic outlook on human resources. That’s why it’s also called “people strategy”. There are many different ways to approach long-term human resource management and each organization must find its own optimal strategy according to their business goals. In this blog post we’ll overview the main elements of strategic human resource management. We’ll also add some best practices, different approaches, and overall tips on long-term human resource management. Although strategic human resource management is most frequently present in bigger organizations, there are many great ideas from the HRM layer that can be applied to any organization. The main benefits of Strategic Human Resource ManagementThere’s no good business strategy without taking people or human resources into account. At the end of the day, people are not the only thing in an organization, but are simultaneously everything in an organization. People are, without a doubt, the most important organizational asset. Only with the right people can an organization’s continuous growth and improvement be ensured. The main benefits of Strategic HRM activities are:
One very important aspect of strategic human resource management is also the plan for internal leadership development, since that’s many times the bottle neck for the further growth of an organization. In addition, successful implementation of the strategic human resource management plan greatly depends on good collaboration between leaders. Strategic outlook in human resourcesStrategic human resource management starts with forging a strategic outlook on human resources in the organization. A SWOT analysis is a great help in gaining a strategic perspective, and can also be applied to the HR function. Performing a SHRM SWOT analysis should give answers to the following questions:
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