CHAPTER OUTLINES
• OBJECTIVE ONE: STRATEGIC HRM
• OBJECTIVE TWO HR METRICS, BENCHMARKING, AND DATA ANALYTICS
• OBJECTIVE THREE; HIGH PERFORMANCE WORKING SYSTEM PLANNING
• OBJECTIVE FOUR: WORKFORCE PLANNING AND FORECASTING:
OBJECTIVE ONE: STRATEGIC HRM (PANKAJ
THAKUR,
2022):
THE ORIGIN OF STRATEGIC HRM DATES BACK TO THE MILITARY
SYSTEM- TO THE GREEK WORD „STRATEGIES‟ WHICH MEANS
GENERALSHIP, TO ORGANIZE LEAD AND DIRECT THE ARMY TO THE
MOST ADVANTAGEOUS POSITION. IN THE BUSINESS WORLD, IT
DENOTES THE ACTIONS OF TOP MANAGEMENT THAT LEAD THE
ORGANIZATION TOWARDS ITS GOALS AND OBJECTIVES.
PRINCIPLES OF STRATEGIC HRM:
1- THERE IS AN OVERARCHING GOAL, AND THE HUMAN RESOURCE ASPECTS OF THAT GOAL ARE
CLEAR.
2- WITHIN THE ORGANISATION, THERE IS A MECHANISM FOR FORMULATING A WELLUNDERSTOOD STRATEGY, AND HUMAN RESOURCE COMPONENTS ARE EXPLICITLY INCLUDED.
3- ONGOING EFFECTIVE LINKS EXIST TO GUARANTEE THAT HUMAN RESOURCE CONSIDERATIONS
ARE INCLUDED IN THE CORPORATE DECISION-MAKING PROCESS.
4- THE CHIEF EXECUTIVE'S JOB POSES A CHALLENGE IN TERMS OF MERGING HUMAN RESOURCE
ISSUES WITH BUSINESS NEEDS
CONT
5- RESPONSIBILITY AND ACCOUNTABILITY FOR
HUMAN RESOURCE MANAGEMENT ARE ESTABLISHED
AT ALL LEVELS OF THE COMPANY.
6-HUMAN RESOURCE MANAGEMENT INITIATIVES ARE
RELEVANT TO THE NEEDS OF THE COMPANY.
CONT .
• 7- IT ENTAILS IDENTIFYING AND INTERACTING WITH THE
SOCIAL, POLITICAL, TECHNOLOGICAL, AND ECONOMIC
ENVIRONMENTS IN WHICH THE ORGANISATION OPERATES
AND WILL OPERATE.
CONCEPTS OF STRATEGIC HRM:
•THE RESOURCE-BASED VIEW
•THE STRATEGIC FIT VIEW
•THE STRATEGIC FLEXIBILITY VIEW
OBJECTIVE TWO: HR METRICS,
BENCHMARKING, AND DATA
ANALYTICS(DESSLER)
• STRATEGY AND STRATEGY-BASED METRICS
• IT SHOWS HOW YOUR HUMAN RESOURCE MANAGEMENT SYSTEM‘S PERFORMANCE
COMPARES TO THE COMPETITION.
• HR ANALYTICS:
1.PRACTICING EVIDENCE-BASED HR
2.IMPROVING RECRUITMENT AND TALENT ACQUISITION
CONT
-MANAGING EMPLOYEE PERFORMANCE AND PRODUCTIVITY
-HELPING BUILD EQUITABLE COMPENSATION AND BENEFITS
-PACKAGES
-ENABLING EFFECTIVE WORKFORCE PLANNING
-EASILY CONDUCTING SKILLS GAP ANALYSES
OBJECTIVE THREE: HIGH PERFORMANCE WORKING
SYSTEM
PLANNING:
• WHAT ARE THE KEY FEATURES OF HIGH PERFORMANCE WORK SYSTEMS?
• EMPLOYEES THAT WORK IN A BUSINESS THAT HAS ADOPTED A HIGH- PERFORMANCE
WORK SYSTEM TEND TO BENEFIT FROM:
• HAVING A VOICE BEING WELL TRAINED
• ARE MORE MOTIVATED AND COMMITTED FEEL MORE SECURE IN THEIR ROLES
• ARE CAREFULLY RECRUITED
OBJECTIVE FOUR: WORKFORCE PLANNING AND
FORECASTING:
• FORECASTING PERSONNEL NEEDS (LABOR DEMAND)
• FORECASTING THE SUPPLY OF INSIDE CANDIDATES :
• FORECASTING THE SUPPLY OF OUTSIDE CANDIDATES
• MATCHING PROJECTED LABOR SUPPLY AND LABOR
DEMAND