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Canada (162,403)
Commerce (1,696)


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Commerce 2BC3 Chapter 2 Strategic HR Management and PlanningNature of Strategic HR ManagementStrategic HR Management SHRM Process of linking the HR function with the strategic objectives of the organization in order to improve performance Links HR vertically and horizontally VerticallyRequire connecting HR practices with the strategic management process of the organizationHorizontally Involve the coordination of various practices within HR through a patterned or planned action Are linked to organizational plans to anticipate HR needs and to HR programs that will be implemented to meet those needsInvolves multiple HR processes that are linked to the strategic objectivesHR best practicesEmployment securitySelective recruitingHigh WagesincentivesInformation sharingparticipationTrainingcrosstraining Promotion from withinMeasurement Operationalizing HR StrategyUnderstand the businessKnowing the financials and the hey drivers of business success is important to understanding he need for certain changesFocus on the key business goalsPrograms that have the greatest relevance to business objectives should get priorityKnow what to measureMetrics are a vital part of assessing success which means picking those measures that directly relate to the business goalsPrepare for the futureStrategic thinking requires preparing for the future not focusing on the past Linkage of Organizational and HR Strategies2 popular strategiesUsing either of these approaches can help in determining which HR strategies best fit the organizations overall businessOrganizational Strategy The pattern of decisions in a company that determines and reveals its objectives purposes or goals and produces the principal policies and plans for achieving those goalsDefines the range of business the company is to pursue the kind of economic and human organization it intends to be and the nature of the economic and noneconomic contribution it intends to make to its shareholders employees customers and communitiesMust be competitive to be effective Porters Strategic Models 3 internally consistent generic strategies for creating a defendable position and outperforming competitors in an industry Overall cost leadership differentiation and focusCostleadership strategy Strategy that approaches competition on the basis of low price and high quality of product or serviceMany require an organization to build its own employees to fits its specialized needsNeeds a long HR planning horizonIt may employ a high number of contract or parttime employeesTo ensure higher quality of product or service the organization may have to offer more training Differentiation strategy More appropriate in a dynamic environment characterized by rapid change and requires continually finding new products and new marketsMore responsive HR planning is likely to have a shorter time frame Makes greater use of external sources Employers would need more fulltime employees Focused Strategy Occurs when a firm concentrates its efforts on serving a distinctively defined market segment which may include some combination of a portion of a product line particular customer segment limited geographic area or particular distribution channelAttempts to achieve either a cost advantage or differentiationMiles and Snows Strategy Typology
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