Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 2500 words - 1

Strategic Human Resource Management - Essay Example The ever-changing environment reminds us that, for a business to survive, it has to concentrate on its core competencies to be ahead of the competitors. The concept of Strategic Human Resource Management has changed keeping in mind to be sustainable in this world of high cut throat competitions. Human resource management (HRM) involves all management activities and decisions that directly or indirectly keep marks on the human capital of the company. HRM is full of different strategies, in the other way HRM in strategic level is called SHRM. SHRM implies different aspects of an organization. First it gives importance on the human resources which is a differentiator among the competitors. Secondly it gives a clear idea about the process and goal of the company. Third it reflects different HR programs. The main aim of SHRM is to be successful through human capital. SHRM helps organization to get skilled, dedicated and motivated human capital. It also helps a company to retain its valuable workforce. There are lots of elements are related with SHRM. Those are discussed below. SHRM creates a transformation among the staffs. It brings certain changes among the staffs. Those are team building, global perspective, strategic planning. SHRM also brings transformations in organizational structures. The hr policy will maybe centralize or decentralized. It would be guided by SHRM. It is a discipline which enlightens different practises, ideas, concepts keeping in line with HRM tactical planning, philosophy, activities and long term goal of the company. SHRM gives great guidelines on how to lay the strong base for strategic advantages by the creation of effective organizational structure and design culture, value proposition of workforce. The appropriate communication strategy also can be prepared for a changing landscape. It gives Strategic human resource management Essay Example | Topics and Well Written Essays - 1500 words Strategic human resource management - Essay Example Building Business Case for HR as a Strategic Asset Human resource professionals need to build strong case studies supporting the business objective communicated by the management to employees. The HR department can use previous research works, academic resource, survey reports and industry data in order to support order to build business case. Strategy Map Creation Performance measurement action needs to be integrated by HR department in order to trigger value creation process. The company needs to create graphical representation of performance drivers while mapping the value chain process. HR Deliverable within Strategy Map HR managers need to depict performance drivers and HR enablers separately in order to increase potentiality of strategic map. HR deliverables must support firm level performance drivers of strategy map. Aligning HR Architecture with HR deliverables HR managers need to architect existing HR system (work organization, competencies) in accordance with HR deliverable s (low turnover) to increase strategic value of the map. Aligning existing HR system with organization’s macro level strategy plays cordial role in this step (Becker, Ulrich and Huselid, 2001, p.p 36-47). Strategic Measurement System In this stage HR managers develop measurement tool for HR deliverables to fulfil business objective of the organization. Measurement Detailed process flow for executing and monitoring is drawn in this step. HR managers focus on implementation strategy of the HR Scorecard in context to objective of the organization. The seven step model can be defined in the following manner. (Source: Becker, Ulrich and Huselid, 2001, p.p 36-47) 2.0 Balance Scorecard Some of the major performance measurement tools that are being used in current business scenario include Balanced Scorecard, Economic Value Added (EVA), Activity Based Costing and Management, Performance Prism and Quality Management. However among the aforementioned tools, importance and usage of bala nced scorecard will be principally highlighted through the entire report. While the saying ‘balanced scorecard was coined in the early 1990s’, the origin of this approach however is believed to be deep, and also embrace radical work of General Electric (GE) during the early 1950s. The work was basically based on reporting of performance measurement. Apart from this French process engineers have also contributed immensely towards the development of performance management tools. There work was during the early 20th century. In this context the engineers literally developed a â€Å"dashboard† in order to monitor performance levels in a simplified and efficient way. Despite of its early conception, it was originally developed at Harvard business school by Dr. David Norton and Dr. Robert Kaplan in the year 1992 (Eckerson, 2010, P. 11). During the initial phases after the development of balanced scorecard, it was merely used as the performance measurement tool or a per formance measurement agenda. Nevertheless slowly with the passage of time balanced scorecard has been able to gain much more importance in the professional field. A number of companies incorporated balanced scorecard into their system of operation in order to facilitate effective and well-organized performance measu