Pages:5 (1520 words)
Document Type:Research Paper
Specific HR Strategy
Human resource management (HRM) is an integral part of organizational operations with greater impacts on financial performance. Modern HR strategies and practices have evolved to incorporate strategic HRM. HR strategies are divided into two categories: general HR strategies and specific HR strategies. General strategies in HR practices focus on high commitment, high involvement, and high-performance management. On the contrary, specific HR strategies focus on what the organization sets to do in relation to its HRM policies and practices. Business organizations are increasingly establishing specific HR strategies to enhance their competitive advantage and performance. Specific HR strategies differ from general strategies as they are based on the unique aspects of an organization’s operations.
An example of a specific HR strategy is IRM’s HR strategy, which reflects the general aspirations and intentions of the company. The HR strategy reflects four key areas of its overall business strategy: business value, innovation, global integration, and on-demand infrastructure. The goals of IBM’s HR Strategy include to lead transformation, anticipate and build skills, and grow the company. IBM seeks to achieve its HR strategy through leadership, performance-based opportunities, flexibility, creating a value-based culture, and hiring a diverse and talented workforce. IBM’s HR strategy is based on the matching or contingency approach to HR strategies and practices. Based on this approach, the HR strategy seeks to create a fit between competitive strategy and internal strategies for HRM. As evident in IBM’s case, the specific HR strategy based on a matching or contingency approach promotes vertical integration and horizontal integration. Vertical integration focuses on promoting the alignment between business strategy and HR strategy. On the other hand, horizontal integration ensures HR goals are linked to individual HR policy areas.
Specific HR Strategy
Human resource management (HRM) is an important part of organizational operations and has a greater impact on firm performance. Human Resource (HR) practices have evolved to adopt a strategic approach from its conventional focus on individual and organizational effectiveness. According to Richard & Johnson (2001), the current focus of human resource management is critical to the strategic processes of an organization as HR activities contribute to profitability rather than a cost of production. This implies that strategic HRM is essential in enhancing firm profitability in the increasingly competitive modern business environment. As a result, organizations are increasingly establishing HR strategies that seek to enhance employee productivity and financial performance while lessening employee turnover. This paper examines a specific HR strategy employed by organizations to enhance their productivity and performance.
Strategic Human Resource Management
Human capital is regarded as one of the critical constructs across various disciplines ranging from psychology to economics. Existing literature on strategy and HRM shows a significant link between human capital and organizational performance (Boon et al., 2017). Given the link between these two constructs, studies have been carried out to assess different aspects and levels of human capital in different organizations. The value of human capital to organizations…
…there are different approaches to HR strategies. The matching approach, which is also known as the contingency approach, seeks to create a fit between competitive strategy and internal strategies for HRM. In this regard, the business strategy acts as a competitive strategy that guides the company’s HR strategy and practices. Elements of the HR strategy are designed to promote a fit between its competitiveness and human resource practices. This specific HR strategy effectively combines vertical integration and horizontal integration.
In relation to vertical integration, the organization’s HR strategy is aligned to the business strategy. To avoid being reactive, the organization has ensured that its corporate strategy is the premise for both HR and business strategies. As a result, the company’s HR strategy is not subservient to product-market logic. On the contrary, horizontal integration through ensuring HR goals are linked to individual HR policy areas. Therefore, HR practices do not conflict with existing policy areas and ensure effective people management.
In conclusion, HRM is an important part of the operations of an organization as it relates to people management and influences financial performance and success. As the modern business environment is becoming more competitive, organizations are adopting strategic measures for HR practices. Business organizations develop and utilize specific HR strategies to improve their competitive edge and performance. IBM is an example of a company that has adopted a specific HR strategy. As evident in the firm’s case, a specific HR strategy incorporates different aspects and approaches. A matching/contingency approach is…
Boon, C., Eckardt, R., Lepak, D.P. & Boselie, P. (2017, October 5). Integrating Strategic Human Capital and Strategic Human Resource Management. The International Journal of Human Resource Management, 29(1), 34-67.
Boon, C., Hartog, D.N.D. & Lepak, D.P. (2019, January 14). A Systematic Review of Human Resource Management Systems and Their Measurement. Journal of Management, 45(6), 2498-2537.
Richard, O.C. & Johnson, N.B. (2001, March). Strategic Human Resource Management Effectiveness and Firm Performance. The International Journal of Human Resource Management, 12(2), 299-310.
Seyyedjavadin, S.R. & Zadeh, M.H. (2009, June). HR Strategy and Its Aligning with Organizational Strategy and Human Capabilities. Iranian Journal of Management Studies, 2(2), 5-29.
Wright, P.M. (2008). Human Resource Strategy – Adapting to the Age of Globalization. Retrieved July 25, 2020, from https://www.shrm.org/hr-today/trends-and-forecasting/special-reports-and-expert-views/Documents/HR-Strategy-Globalization.pdf
HR Strategy Read Abstract Mountain Bank Strategies to achieve a competitive advantage in the marketplace Organizations thrive by providing a level of value or services for their customers that their competitors cannot. Mountain Bank currently has a strong retail banking business, but it wishes to expand its outreach into the more lucrative business banking sector. It wishes to expand into retail and corporate banking. To do so, it desires to better use its tellers
Strategy Implementation at Kraft Foods Strategy Implementation at Krafts Foods This paper presents an analysis of the strategy implementation at Kraft Foods by analyzing different internal processes and systems which can impact the strategy implementation process in a positive or negative way. It includes an analysis of the people, processes, systems, and culture at Kraft Foods and evaluates their contributions, impacts, and strategic fit with its mission, strategy, and corporate principles. This paper
HR Devolution An Analysis on how Devolution can Drive Evolution of the Industry In the last few decades the globalization trend has worked to foster extensive changes how organizations operate. The rapid pace of the business world has created a scenario in which organizations are constantly evolving and organizational change is nearly a perpetual process. The role of technology has also been a contributing factor that has also had profound implications on
HR Recruitment Senior Staff Proposal Recruitment and Hiring of Senior Staff: A Strategic HR Proposal The development of a strong business is dependent on a strong sense of the importance of its human capital. To ensure that the human capital associated with the business is well equipped to help maintain innovate and grow a business is dependent on the organization's ability to recruit and hire effective leaders as well as all those
Essential Mental Functions: the new senior developers are expected to reveal fair behavior towards their colleagues, subalterns, supervisors and clients. Among the most important mental functions that need to be possessed are: the ability to discern between what is right and what is wrong and what is ethical and what is unethical; empathy and kindness; the ability to make and enforce decisions; a good and reliable memory; originality, creativity and
In 2004, it established its operations in Mexico to cash in on the high rate of diabetes in this country. Diabetes is responsible for 13 out of every 100 deaths in Mexico and Novo Nordisk expanded into this Latin American market. It also encompassed Mexico as part of its global campaign and its representatives went to schools and villages to spread awareness about the disease and the ways and