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human resource management strategy and analysis (strategic planning…
human resource management strategy and analysis
goal-setting and planning process
plan
. course of action for getting from where you are to where you want to go
hierarchy of goals
. view goals from top to front-line employees as a chain
strategic planning
strategic plan
. match SW with OT to maintain competitive advantage
strategic mgmt
. identify and execute org's strategic plan (SWOT)
process
(1) define
. what, where, how it differs
(2) audit
. SWOT
(3) formulate new direction
based on SWOT
(4) turn mission into strategic goals
(5) formulate strategies to achieve strategic goals
(6) implement
(7) evaluate
devising a strategic plan is
top management's responsibility
dept managers' roles
help devise strategic plan
formulate functional strategy
execute the plans
types of strategies
corporate
concentration
. single biz, WD-40
diversification
related
conglomerate
vertical integration
. produce its own raw materials/sell products directly (Apple Store)
consolidation
. reduce size
geo expansion
. take biz abroad
competitive
cost leadership
. become low-cost leader
differentiation
. be unique
focusers
. provide product/service consumers can't get from generalist competitors, e.g. ferrari and toyota
competitive advantage
needn't be tangible
. best competitive advantage is often
human capital
functional
strategic fit
. each department's functional strategy should fit and support the company's competitive aims
what do the competitive choices mean for the depts that do the actual work?
strategic HRM
definition
: formulating and executing human resource policies and practices that produce the employee competencies and behaviors the company needs to achieve its
strategic aims
tools
strategy map
. provides an overview of how each department's performance contributes to achieving the company's overall strategic goals
HR scorecard
. assigning financial and nonfinancial goals or metrics to the human resource management related chain of activities required for achieving the company's strategic aims
(1) HR activities
(2) resulting employee behaviors
(3) resulting firm-wide strategic outcomes and perf
digital dashboards
. how the company is doing on all the metrics from the HR scorecard process
HR metrics and benchmarking
. it'd be futile for mgmt to set 'better CS' as a goal if they can't measure it
strategy and strategy-based metrics
. metrics that focus on measuring the activities that contribute to achieving a company's strategic aims
HR audits
. an analysis by which an organization measures where it currently stands and determines what it has to accomplish to improve its HR function
evidence-based HR
how to be scientific
? be
objective
,
experiment
(experiment group & control group)
why be scientific
? to make better decisions. 'intuitively obvious' can be misleading
mission statement
: what company's main tasks are now