The TruPay Journal - News, Articles & Reports

The Importance of Strategic Human Resource Management

Posted on Mon, Jan 29, 2018 @ 08:00 AM

Strategic HR focuses on the performance of each employee and how it affects the business as a whole. It can play a key role in advancing the goals and success of your organization. You can get a good idea of where your organization stands by answering the following types of questions:

  • Do you need different knowledge, skills, and/or abilities from your workforce in order for the business to grow?
  • Do you clearly convey the expectations and the business value of each person's role in the company's direction?
  • Does Management address employee training and performance development well?
  • Do you have established programs to recognize and reward performance?
  • Do you consistently provide competitive market pay and benefits for the right sets of skills and competencies?
  • Does your company further minimize risk by remaining compliant to employment laws?

Strategic HR

The more no's or don't know's you answer, the greater efforts your company needs to improve. 

How can you apply strategic HR to your business environment? 

HR strategies are not just for huge global corporations. Organizations of all sizes can use strategic human resources management to achieve success. Some action items include: 

  • Create a succession plan in case the business leadership and/or ownership changes.
  • Find out how your top competitors get and keep their talent.
  • Develop a clear and accountable feedback process to support employees in their professional development (i.e. skills training, workshop seminars, coaching, etc.).

With strategic HR in mind, your goal is to ensure that the talent of all your employees line up with the company's business objectives. Accomplish this, and you're well on your way to much greater success.   

HCM Trends Report

   

Subscribe to Our Newsletter

Top 10 Posts