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HRM And SHRM - Essay Example

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The essay "HRM and SHRM" describes is aimed at understanding the difference and connection between human resource management (HRM) and strategic human resource management (SHRM). In order to this, Virgin Group is taken as an example and its HRM and SHRM strategies are analyzed…
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HRM And SHRM
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"HRM And SHRM"

Download file to see previous pages Virgin very early realized that simple management of employees is not good enough to achieve greater success in the global market. It took the idea that investment in human element with respect to all aspects of the organization is essential for the success of the company. It integrated management of human resources into organizational strategy and has reaped tangible benefits as a result of this. Virgin took the HRM approach of designing systems, policies, and procedures to manage employees and integrated it with SHRM approach wherein human resources were seen as the key asset, extensive interest was shown and investment was made in order to meet key objectives. The approach of the group towards SHRM can be best understood by their group motto: "Our people come first”. Virgin has adopted various initiatives to ensure that their employees are managed effectively. Safe working environments are created, training is undertaken to ensure that employees are updated with the skills needed to handle their work, employment contracts for all staffs, and many more HRM initiatives have employed. There are other HRM systems in place such as bonuses, stock options, profit sharing, etc. Along with this Virgin have come up with numerous SHRM strategies such as recruitment criteria were in the company looks for values and character among the prospective employees that can uphold the company's brand value. Only those are selected who possess values that fit with the company's brand culture (Verma, 2006). ...Download file to see next pagesRead More
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