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Strategic HRM(Human Resource management) can be utilised as a competitive advantage today - Assignment Example

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Strategic Human Resource Management (HRM) for Competitive Advantage Name: Course: Lecturer: Date: Word Count: 1251 Table of Contents Defining Strategic Human Resource Management and its importance 3 Analysis of advantages realized by corporations that practice Strategic HRM for competitive advantage 4 Challenges facing corporations implementing Strategic HRM 5 Strategies to overcome challenges 6 References 8 Defining Strategic Human Resource Management and its importance Due to the fact that human resource is invaluable to an organization, managers have to be able to make and implement plans that bring out the best in its employees…
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Download file to see previous pages They must show how the role of HR can be maximized to make an organization successful. Strategic HRM is defined by its role in addressing two crucial needs in an organization- delivering strategic forecasts on the business by making it possible for the organization to source, evaluate and motivate employees in an increasingly dynamic business environment, and providing administrative services that are consistent, cost-effective and responsive to every department within the organization (Regis 2008, p.5). This depicts the evolution of the HR function where an employee has to go beyond the traditional job description. HRM should hence be involved in creation of business strategies because the function of employees is paramount within an organization; for this reason, HR professionals are referred to as strategic business partners. Strategic HRM is important since it facilitates reinforcement of an organizational culture, encourages commitment among employees and promotes a willingness among employees to act flexibly so as to bring about achievement of an organization’s goals that will in turn help it realize excellence. Alternatively, strategic HRM can be defined as all the activities that affect behavior of individuals within an organization, in their efforts to put together and implement its strategic needs. This entails creating a pattern within an organization, thus it is said to facilitate reinforcement of an organizational culture, where employees are informed and part of long-term strategic planning of attaining the organization’s goals and vision. The fundamental aim of strategic HRM is to create strategic capability in employees by ensuring they are skilled, committed and strongly motivated (Armstrong & Bacon 2003, pp.41-42). Strategic HRM is seen as being different across various organizations although certain themes stand out and these are summarized by the fact it imposes a cultural change defined by changes in attitudes, behaviours and values (Wright& McMahan 2011, p.94). Analysis of advantages realized by corporations that practice Strategic HRM for competitive advantage Gaining competitive advantage may either be by being a differentiator or a low-cost leader. It includes decisions, relationships, resources and capabilities that allow an organization to take advantage of opportunities in the market while avoiding threats to its desired position. A corporation that practices strategic HRM whether it is a low-cost leader or differentiator, is able to have continuous innovation, highly skilled and competent workforce making it possible to quickly and efficiently meet customer’s needs and preempt its customer’s moves. Breaking it down, two advantages that a corporation can attain as a result of instituting strategic HRM for competitive advantage include consolidating extensive technologies ...Download file to see next pagesRead More
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