Strategic human resource management is a method for determining an organization’s intents and goals for the employment relationship, as well as the organization’s recruiting, training, development, performance management, and strategies, policies, and practices. HR practices with a strategic foundation have a significant influence on increased performance.
Aims of Strategic Human Resource Management:
- Advance flexibility, innovation, and competitive advantage.
- Reducing the negative externalities or obstacles which may affect achieving organizational goals.
- Develop a purposeful organizational culture.
- Improve business performance by ensuring strategic capabilities.
Benefits of Strategic Human Resource Management:
- Way to sort out HRM problems.
- Efficient use of employees and reduced costs.
- It largely benefits in long term.
- It helps to gain a competitive edge.
Challenges & Their solutions:
SHRM challenges are such Difficulties to predict people’s behavior, Limited time, money, and resources, Needs constant monitoring. But there are ways by which we can solve the problems of strategic human resource management.
And they are;
- Assessing the Barriers of SHRM.
- Managing Change in Organization.
- Conducting a rigorous initial analysis.
- Formulate Strategy.
- Initiating Project Management and Implementation.
- Follow up and evaluate.
Importance of SHRM:
Human Resource Management Strategy is about understanding a fundamental concept of how people in the business are managed and the translation of this into HR policies and procedures. Policies and practices must be integrated to form a cohesive whole that is aligned with the company or organizational strategy to be effective. SHRM helps to assist the company in attaining cost-effective labor engagement. It also allows the company to adapt to changing demands. It helps to establish clear objectives, a clear path, and a clear emphasis for the future, aids in the planning and execution of the Organization’s resources, develops, manages and maintains knowledge.
SHRM is a relatively young field. A significant sustainable advantage will depend on how strategically one uses their human resources. Human resources can be a core competency for an organization. In an organization, strategic human resource management is becoming increasingly crucial. It provides many advantages to a firm’s competitive advantages, but it also poses certain problems that the organization should consider.
Meherunnesa Hossain Ibnath
Admin & HR Intern