Strategic Human Resource Management: Aligning Workforce with Organizational Goals, Lecture notes of Strategic Management

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HUMAN RESOURCE UNIVERSITY OF NORTHERN PHILIPPINES PSY 115 STRATEGIC HUMAN RESOURCE MANAGEMENT MANAGEMENT A N D I T S R O L E

SHRM?

HOW IMPORTANT IS

The complexities of operations with rapidly changing work conventions made the HR leaders focus on playing a major role in enhancing workplace productivity to help the businesses gain an edge in the market. It is a modern approach to human resource management which distinguishes itself from the routine HR practices of organizations.

HR OPERATIONS ENSURING PRACTICES THAT FOSTER FLEXIBILITY AND GIVE A COMPETITIVE ADVANTAGE TO THE ORGANIZATION BUILDING A CULTURAL FIT FOR THE ORGANIZATION ENSURING SUPERIOR BUSINESS PERFORMANCE

In contrast to traditional systems, companies implementing strategic human resource management principles integrate HR into various departments like IT, operations, and marketing. This collaborative approach fosters a shared understanding of organizational goals, enabling the development of strategies aligned with overall objectives. This integration transforms HR into a crucial facilitator of business growth rather than a standalone service limited to recruitment and payroll.

CHALLENGES Cross-cultural issues and lack of engagement between stakeholders Global operations leading to disconnect Changing business leadership in companies that undergo M & A Changes in the business environment such as the pandemic outbreak 1 2 3 4 5 Changes in technology used

HOW DOES SHRM WORK? Cultivate an in- depth understanding of the organization’s objectives Assess the capabilities of the HR team Analyse the existing HR strength in view of your objectives Assess the HR needs for the business as it grows

5 PRIMARY OBJECTIVES Resource-based Strategy: Focuses on enhancing the strategic capabilities of the company High Commitment Management: Establishing better commitment between managers and their employees. Achieving Strategic Fit: Integration of workforce and material resources through a streamlined and high ROI oriented operational model 1 2 3 5 High Involvement Management: Empowering and treating employees as stakeholders. 6 High-Performance Management: Enhancing company performance through superior productivity, growth, and profitability rate of the workforce.

OPPORTUNITIES HR Leadership Roles: Opportunities for HR professionals to take on leadership positions, such as Chief Human Resources Officer (CHRO) or HR Director. Strategic Business Partner: Roles that involve aligning HR strategies with overall business objectives and contributing to organizational growth. Talent Management Specialist: Positions focused on optimizing talent within the organization, including talent acquisition, development, and retention. Organizational Development: Roles specializing in organizational change, culture, and development, contributing to the long-term success of the company. HR Consulting: Opportunities to work as an HR consultant, advising other organizations on strategic human resource management practices. Learning and Development Specialist: Careers focused on employee training and development to enhance skills and capabilities within the workforce. Employee Relations and Engagement: Roles that concentrate on fostering positive workplace relationships and employee engagement. Compensation and Benefits Specialist: Careers centered around designing and managing competitive compensation and benefits packages. Diversity and Inclusion Roles: Positions that focus on creating inclusive workplaces and promoting diversity within the organization. Technology and HRIS Specialist: Opportunities in managing HR Information Systems (HRIS) and leveraging technology for efficient HR processes.