Human Resources Strategy and Development
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An organizational strategy is a creation, implementation, and evaluation of decisions within an organization that enables it to achieve its long-term and short-term objectives.
If you are asked what your organization’s most prized asset is, what will be your answer? It is widely agreed that people are an organization’s most important asset and a source of competitive advantage. This is especially true in today’s dynamically changing knowledge-intensive economy, in which organizations seek transformation and growth, and where talent is the most sought-after resource for an organization. It is therefore critical to develop strategies that will both attract the right talent, and create an environment that enables employees to realize their potential and achieve corporate and personal goals.
What Is The Role of HR in an Organization’s Strategy Development?
HR systems must align with the organizational strategy. Employees must be strategically focused. Every element of the HR function, from hiring, compensation, training etc. needs to be developed in order to enlarge the human capital in the organization. When HR is strategic and involved with and/or linked to organizational performance, it plays an important role in the success of an organization. When HR interventions are strategically aligned, competitive advantage is more easily achieved.
HR Functions That Support Organizational Strategy
Recruitment and Selection
The ability to attract and select employees with the right knowledge, skills, and attitude is an important function of HR. It not only ends there. Achieving a high level of engagement is equally important and HR can lead the effort in increasing engagement in an organization.
Training and Development
All organizations face an urgent need to develop leaders and employees in order to remain relevant and to grow. There are three aspects of training and development: Identifying the skills needed, developing learning and career opportunities within the organization, and attracting/preparing the future leaders across the organization. HR plays an important role in developing a culture of continuous learning and can be of help in identifying and preparing potential leaders that possess the requisite skills for the different levels of the organization.
Quality Improvement
Improvement in quality positively affects a host of other areas in any organization. Improvement in quality leads to a reduction in production or service cost and, providing customer delight resulting in customer retention. Increase in sales follows, thus, improving market reputation leading to a reduction in marketing expenses which contributes towards improved profitability. HR's ability to align people, process and culture contributes greatly to achieving quality improvement.
Performance Management and Compensation
Formulating a system which is fully aligned with organizational strategy, and implementing the same in an objective and transparent manner is essential. Not only will this make the system acceptable but also will go a long way in motivating employees. The system not only enunciates the organization’s expectations regarding employee’s performance, it also helps in employee training and development. Similarly, laying down a sound and fair compensation policy goes a long way in attracting, maintaining, developing and retaining good employees. HR can add value by proper formulation and implementation of these important functions and thus support organization strategy.
Organizations are continuously transforming to adapt to the new realities of the digital, global and continuously evolving marketplace. HR can be a strategic partner in this effort. To achieve this, a number of steps will have to be taken, in order to change existing mentalities, or familiarize HR in depth with the business units. Time is crucial in this journey, competition is relentless, and therefore, these efforts have to start now.
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