Please enable JavaScript.
Coggle requires JavaScript to display documents.
Overview: Directional (growth) Strategies and HR implications (88)…
Overview: Directional (growth) Strategies and HR implications (88)
Concentration Strategies
T5:
Retain skilled workers
T7:
Behaviours focus for appraisals as successful behaviours are more clear due to a stable environment
T6:
Training programmes to keep skills sharp
Focus on doing what it does best
T9:
Compensation focused on retention
Internal Growth Strategy
Complex HR issues in this strategy
T5/6/8:
Need to both retain and development new skills
T6:
Build on existing strengths
T7:
Both and behavioural and results based performance systems
Behaviour approach to focus on existing product market
Results approach to focus on growth market
Focus on market/product development, innovation, joint ventures
T9:
Pay heavily weighted to incentives for growth
T6:
Training aligned with the intended direction of growth and skills required for that growth
T6:
Joint ventures require training in conflict resolution as it is bringing people from two organisations together - e.g. Tanner Street Bakery
External Growth Strategy - Mergers and Acquisitions
HR Execs often not involved in the planning and research of these
People/Culture problems often cause the biggest problem after the deal is done
Mergers = Across industries
T6:
Training in conflict resolution is crucial
Acquisition = Consolidation within industries
Weigh up value of standardised practices
Downsizing (Rightsizing)
Research shows results from downsizing are generally only achieved in about a third of cases (91)
Downsizing can suffer from blanket approaches (eg early retirement schemes) by losing both good and poor performers
Employment brands are important and need to be managed while still rightsizing where required
Low morale can impact on those left
Financial climate impacts on this