Hrm Swot Analysis

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In order to apply the strategic element of Human resource management, the different forms of strategy must first be explained and defined. By using models that have been outlined in the introduction to this investigation, the difference between strategy and human resource management can be explained. When creating a human resource strategy that fits a particular business, several elements must also be taken into account. These include generic strategies that are integrated both internally and externally within the existing business strategy. The generic strategies in question include: Cost, differentiation and focus. Such strategies will be explained and put into practice within the latter parts of this investigation.
For a company to have
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It serves a filter to separate what is important from what is not, [a mission] clearly states which markets will be served and how, and [a mission] can communicate a sense of intended direction to the entire organization”. Adapted from (2017)
Once a clear mission for the company has been outlined a SWOT analysis must then be undertaken. This analysis of a company’s strengths and weaknesses will aid in the creation of their own specific strategy. A SWOT analysis will also be of help when researching into the competing market. By looking at what opportunities the company has for growth and what threats may occur within their market sector, a company can change and amend the existing strategy accordingly. Once a strategy is formed this strategy must then be out into practice.
Strategy implementation is the next step in the SHRM process. There are a number of models used to aid with strategy implementation. The ADRM model relates specifically to the implementation of HRM therefore it can be directly related to the
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This can be done by again looking at the strengths and weaknesses of the company. The best fit model of SHRM is unique to each business. It can also be said that it is similar to the best practice model as it looks at the company as a whole. This model also investigates the position of the company and their competitors. This model allows a company to choose which strategy best suits them and what specific changes should be made. The best fit approach works better on a long-term basis “The Best Fit approach emphasizes that HR strategies and organizational strategies must be aligned, and “Best Fit” would be achieved only when HR strategies work means to an end”. (2013)
An example of combing bot best practice and best fit models of SHRM would be to mention Ryanair. The model they chose for the low-cost airline is a direct copy of that used by Southwest airlines in America. Noting the success of this company and the gap within the market for such an airline shows how the best practice model was put into action. Over time as the company has increased in size and profitability however, it can be said that they are now using the best fit model approach to their
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