Creating Value Through HR HR Strategy

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Download Free PDFCreating value through HR HR StrategyLina GeorgeSee full PDFdownloadDownload PDF

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HR is Business: Achieving competitive advantage through strategic talent managementWilliam Scott-Jackson

All organizations, whether in the public or private sector, aim to achieve strategic objectives. This requires a clear understanding and linkage between these strategic goals and the key capabilities required for their achievement. To achieve sustainable competitive advantage organizations need two kinds of capabilities: • Non-contingent capabilities are those capabilities which every organization needs, in varying degrees, such as 'effective financial management'. These are the basics that will enable an organization to be "just as good" as its competitors. • Differentiating capabilities are those that distinguish one organization from another and can provide real competitive advantage. Many HR activities (including standardized competency frameworks and talent processes) aim to develop non-contingent capabilities but these can only meet the basic requirements for future strategy and are often un-related to the strategy itself. As a result, very few HR plans addre...

downloadDownload free PDFView PDFchevron_rightHR strategy is necessary to underline the interactive relationship between business strategy and Human resource managementAmal Wijenayaka

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downloadDownload free PDFView PDFchevron_rightStrategic HR for Leveraging organizational EffectivenessDr.Mohd Abdul Maroof

International Journal of Creative Research Thoughts (IJCRT) www.ijcrt.org, 2022

Business Strategies comprising of Vision mission and objectives are the driving forces for the organization, which directs and channelizes the business activities in certain direction with inclusivity of the employees and customer who are always at the helm of affairs. Therefore in todays competitive business environment, with an increased pressure on the companies to fulfill the stakeholders expectations, it is inevitable for the organization to synchronize the right set of Business strategies with the changing dynamics of the market. Strategic HR needs should endeavor to think more broadly than simply determining how to support hiring, developing employees, promoting policies and procedures, and managing risk. Human Resources, as the lead team for employee engagement efforts, can be the focal point for organizational alignment or engagement with purpose. When people connect to the purpose and the business strategies (vision, mission and objectives) behind the company's work, they perform at a higher level.

downloadDownload free PDFView PDFchevron_rightHRM Focus on Distinctive Human Capital and Strategy of Building-Retaining Competitive AdvantageDr. Md. Hasebur Rahman

Global Journals Inc. USA, 2013

Abstract:Every business is a people business. At the heart of every successful business are the people who make things happen. Human capital is its most valuable resource, which provides the solid foundation needed to build long-term profitability and ongoing success of an organization. Therefore, businesses must constantly seek new and innovative ways to attract and retain a top-notch workforce, and motivate them to perform to their fullest potential. The evidence from the literature review, the key success factor of business innovative and motivated human resource. Top management responsible for creating a positive organizational environment by intervening cooperative relationship within functional departments for innovation and creativity in organizational interfaces. Everything can be imitated but competent and innovative workforce cannot be imitated and it becomes a distinctive resource regarded as a competitive advantage. Human capital consists of the “people assets” that drive an organization’s continuous development and sustained growth, and includes the collective attitudes, skills, abilities, and knowledge base of an entire workforce. Human capital management, also commonly referred to as human resource management or workforce management, is a vital discipline that combines technology systems with advanced methodologies to help businesses effectively build, manage, and maintain their “people” assets, and best leverage them to achieve and maintain a competitive advantage (B.S., 2013) . The belief that individual employee performance has implications for firm-level outcomes has been prevalent among academics and practitioners for many years. Interest in this area has recently intensified; however, as scholars have begun to argue that collectively, a firm’s human capital can also provide a unique source of competitive advantage that is difficult for its competitors to replicate. The success of any organization falls back upon its competent and motivated human resources (Mohiuddin, 2008) . The results of global research on human resource management confirm that employees (for their abilities and motivation to work) represent a critical resource of any organization and demonstrate the positive impact of various practices in human resource management on organizational performance and competitiveness (Armstrong, 2007) . Management should recognize that employees and their behavior represent strong forces that can diminish or enhance effectiveness of every organization (Hasebur, 2013) . The world of business becoming more and more global and demanding, nowadays organizations are forced to seek for new means to withstand fierce competition and succeed in their operations. Among the challenges they have to face, the following ones are viewed as the most critical ones: the need to increase productivity, enhance organizational capabilities, expand into global markets, develop and implement new technologies, respond to more demanding customer needs and changes in the highly volatile marketplace, increase revenue and decrease costs, attract and retain high-performing and flexible workforce, introduce and manage relevant organizational change, etc. (Burke, 2005) . In response to the above changes, there is a dramatic change in management efforts to build and retain human resource for improving productivity of human capital. On the other side management scholars have been consistently investigated such possible sources of competitive advantage (CA) at both conceptual and empirical levels. It is now generally believed that human resources and their management serve as a strategic asset to the organization. However, there is an ongoing debate in scholarly publications, as to what in particular leads to the development and sustainability of competitive advantage in the organization (Rūta K., Ilona B., 2008) . This study is an attempt to discuss Human Resource Management focus on human capital and building and retaining human capital on fostering competitive advantages in the enhancement of organizational effectiveness 4. HRM Focus on Human Capital: Effective management of human resources is directly linked to business success (Hasebur, June 2013) . Soft or high commitment human resource management practices are those that generate trust in employees and these practices include giving employees empowerment and involvement in decision making; extensive communication about functioning and performance of the employees service; designing training for skills and personal development of employees; selective hiring; team-working where idea are pooled and creative solutions are encouraged; rewards system that commensurate with effort; reduction of status between the management and staff and all workers are valued regardless of their role (Pfeffer, 1998) . Society has entered a new era in the relationship between organizations and their employees. In this new era, people are the primary source for a company’s competitive advantage and organizational prosperity and survival depends on how employees are treated (Lawler, 2005) . Organizational performance and competitiveness are determined by employee performance. The essence of the positive relationship between best practices in human resources management and organizational performance and competitiveness is the optimal system of human resource management that enables to employ and develop capable and motivated employees and achieve expected organizational performance and competitiveness by achieving desired employee performance (Šikýř, M., March 2013) . HRM involves attracting, developing, and maintaining a talented and energetic workforce (Schermerhorn, 2008) . Its major responsibilities include: (1) attracting a qualified workforce, which involves human resource planning, recruitment and selection; (2) developing a qualified workforce, which involves employee orientation, training and development (T&D), and performance appraisal; and (3) maintaining a qualified workforce, which involves career development, work-life balance, compensation and benefits, retention and turnover, and labor-management relations (Southiseng, N., Walsh, J. March 2013) . HRM functions which have relationships with effective HRD included human resource planning; job analysis; staffing (recruitment and selection); compensation and benefits; equal employment opportunity; T&D; employee and labor relations; health, safety, and security; companies and job design, performance management/ performance appraisal systems; research and information systems ( Puvitayaphan, 2007) . Human resource management practices influence employee’s skills through the acquisition and development of a firm’s human capital. Recruiting procedures that provide a large pool of qualified applicants, paired with a reliable and valid selection regimen, will have a substantial influence over the quality and type skills new employees possess. Providing formal and informal training experiences, such as basic skills training, on-the-job experience, coaching, mentoring, and management development, can further influence employees’ development (Bassey E., Tiesieh T. 2012) . Human resource development (HRD) is another HRM function but it is possible for the HRD function to stand alone. However, to optimize HRD goals, it is necessary to interact with other HRM functions. HRM functions have direct association with dimensions of employee relations, rewards management, performance management, recruiting and selection (Thornhill et al., 2000) . 5. The Efforts HRM to Build and Maintain Human Capital: The most valuable corporate asset, in the 21st century, is seen by distinguished professors to be “the knowledge worker” (Drucker, 1959) . Human capital is the stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value (Wikipedia, 2013) . Management accounting is often concerned with questions of how to model human beings as a capital asset. However it is broken down or defined, human capital is vitally important for an organization's success (Crook et al., 2011); human capital increases through education and experience. IBM is a leading professional services provider focused on excellence and innovation in Human Capital Management. With over 400,000 employees globally and over 5,000 focused on Human Capital Transformation and Outsourcing, our HR Transformation practice addresses organization and people issues associated with the evolution of the HR business function. (IBM, 2013) .

downloadDownload free PDFView PDFchevron_rightStrategic human resources management: Linking the people with the strategic needs of the businessMelvin Ho

Organizational Dynamics, 1992

downloadDownload free PDFView PDFchevron_rightStrategic human resource managementMariedel Barrio

1999

downloadDownload free PDFView PDFchevron_rightStrategic Human Resources ManagementMelvin Ho

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downloadDownload free PDFView PDFchevron_rightAchieving Competitive Advantage Through HR PracticesGurdeep Singh Narang

Globalisation has paved the way to increased competition and has re-established the fact- “survival of the fittest”. Survival and sustainability emerge as key issues to ponder in a competitive environment. Firms are now concentrating in designing activities and practices that give them additional competitive advantage. Human Resource Management has emerged as one such area with the belief that management of people gives a cutting edge for establishing a competitive advantage for a firm. Effective HR practices result in committed workforce, which can contribute towards firms’ growth. Adequate addressing of employee needs reduces attrition rate and hence dedicated and talented employees are retained, which become an asset for the firm. Retention of talented workforce and designing of good HR practices have greatly assisted organisation to achieve competitive advantage over other firms. This paper will highlight few core HR practices undertaken by firms that have resulted in achieving ...

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