Introduction The key to any successful firm or an organization is its resources. Resources are always scarce and need to be used efficiently and sustainably to maintain a competitive advantage over other firms. Human Resource is one of the most valuable resources of a firm or an organization and knowing how to manage human resources is critical for survival of organizations and firms (Armstrong, 2008). Human Resource management is crucial in efficiently allocating human resources for maximum efficiency to achieve organizational goals. Wright et al (2011) argues, “In times of plenty, ﬁrms easily justify expenditures on training, stafﬁng, reward, and employee involvement systems, but when faced with ﬁnancial difﬁculties, such HR systems fall
Strategic human resource management is a combination of strategic planning and HR planning, it utilizes human resource and human resource activities in the achievement of strategic goals. (http://www.homepages.se.edu/chapter02/human-resource-planning)
Task 1 Criteria 1.1 (Explain the importance of strategic human resource management in organizations) To be a successful organization, there are required to manage some resources such as human resource, technology resource, financial resource, physical resource. Among them, human resource is a key factor for an organization. Because other resource depends on human decision. Therefore, it commonly recognized to use the strategic approach to people manage is known as ‘Human Resource Management’ or HRM. Human Resource Management (HRM) may be defined as “a strategic approach to managing employment relations which emphasizes that leveraging people’s capabilities is critical to achieving sustainable, competitive and advantage, this being achieved
Changes in thinking and practice caused an increase in specialization and thus it led to less use of term “personnel management” in Human Resources Management (Miller, 2006). In the 1980s, changes in the operational environment of HRM drew the attention to the strategic management of the human resources. A firm human resources strategy will allow an organization to have a good bonding with the employee and coexist peacefully in the community. It is employees who will perform their needful duties and responsibilities to achieve its companies set goals or targets. This is where the importance of strategic human resources can be seen, since the human resources department will identify the key areas in the company that require manpower.
Human resource management is the management of the employees or the staff of the organization in order to minimize the conflicts in the organization and maximize the performances of the organization. When discussing about the human resource management it is very important to discuss about the models of human resource management. There are organizations applying different types of human resource management models. Normative model is the mostly using model of human resource management by the organizations. Under the normative model of human resource management, there are two main models of human resource management (Dobni, 2006).
188.8.131.52 The concept of Strategic Human Resources management stems from the idea that the top management is strongly convinced that the human capital of their organisation requires very close nurturing and makes them partners in the organisational success. It is for the HR department to identify and mould the individual characteristics of the human capital and align them with the strategic vision and mission of the organisation. This can be achieved if the strategic HR functions are constantly, and vigorously aligned towards total quality management in all fields, which would result in High Performance Work system. 184.108.40.206 The earlier part of this century has seen various experts and researchers synergizing the functions of human resources
Introduction Human Resource Management (HRM) refers to the management of people in an organization. It involves the integration of Human Resource policies, activities and systems that focus on managing employees in an effective and efficient manner to achieve organization’s goal and success (Byars and Rue, 2006). The purpose of this report is to analyze the importance of HRM in sustaining competitiveness and contributing to the success of the organization. Subsequently, discuss on the main challenge of HRM in today’s rapid changing business environment. Last but not least, suggest and evaluate recommendations to overcome the challenge faced by HRM.
1.0 Introduction Human Resource Management plays an important role in every organisation in managing people and make the organisation to achieve its goal. Basically, Human Resource Management is a main field and there are many subfields under it. Strategic Human Resource Management (SHRM) is one of the subfield that can be found under Human Resource Management. SHRM defines the organization’s intentions and plans on how its business goals should be achieved through the employees of an organisation (Ogunyomi, 2013). Besides that, it also helps an organisation to identify the ways to improve the competitive advantage in order to achieve organisation goal.
This focus is important in growing the company and staying competitive in the market. The company’s effort on managing human resources when using subsidiary companies and maintaining their core values and goals. As stated in ICMR case study “HRM is a strategic function concerned with recruitment, training and development, performance appraisal, communication and labor relations. HR policies guide the various functions of HRM. The need for a particular type of HRM is determined by the need for standardization or adaptation” (ICMR center for management research, 2011).
It’s time for organizations to recognize the advantages BRM brings with it. Well managed benefits help organizations realize their maximum possible RoI and drive organizational success. The Pulse Report states that enterprises that identify benefits right at the start are more likely to meet or more often even exceed their forecasted RoI. A formal approach to benefits Realization helps business leaders make better investment decisions, assists in setting realistic estimates and puts in place better methods of monitoring how well a project is progressing and how beneficial it really is to the