HRM 3430 Chapter 2: Chapter 2 - Strategic HRM
28 Oct 2011
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Document Summary
Strategic hrm is a set of distinct but interrelated practices, policies and philosophies whose goal is to enable the achievement of the organizational strategy. These practices, policies and philosophies form a system that attracts, develops, motivates and trains employees who ensure the survival and effective functioning of the organization and its members. Hrm strategy must match the business strategy. An organization"s employees can provide a firm with a competitive advantage. Employees who provide superior performance because of their skills or flexibility will enable a company to beat its competitors through superior service or the development of unique products. The less a resource can be imitated, the more durable the source of competitive advantage. Hr department is asked to define the behaviours necessary to achieve organizational capabilities of innovation, speed and accountability. Human capital - the sum of employees" knowledge, skills, experience and commitment invested in the organization.
