Human Resource Strategy - Assignment Example

HUMAN RESOURCE STRATEGY Within the modern business environment, organizational excellence depends on the speedy transformation of its mission, vision, values, management style, different policy frameworks and processes to the needs of the ever changeable customers. Human potential here plays a critical role as while managed by the HR strategies it is able to take a competitive advantage for an organization and together with the HR management policies and practices be able to provide the basis for measuring organizations’ progress and outcomes (Kalyani & Sahoo, 2011). Despite the common purpose of human force in it efficient contribution in the organizational goals, HR strategies are different for each business and can be either simply general declarations of the intent or go into much more detail. Thus, the hospitality industry covers the principles of the human resource management concept in order to enable employees to deliver the high quality services, while HR strategies within retail industry help to identify the various roles of organization and their successful application within the retail company. If HR strategies are in line with the service-oriented environment, the higher performance leads to the competitive edge. Consequently, there are companies, which HR strategies have helped them to earn reputation of the best places for work. According to Fortune magazine (Great place to work, 2015), Marriott International, Inc., a leading hospitality company and Whole Foods Market, a supermarket chain that sells organic food, are among the list of top hundred companies best to work for. Marriott International is the leading company that owns more than three thousand and nine hundred properties, eighteen brands and is guided by Marriott family for over eight years, which has earned revenue of nearly thirteen billion dollars (About Marriott International - Find Your World, 2015). Whole Foods Market was growing through mergers and acquisitions and now accounts more than seventy six thousand people in such companies as Whole Food Company, Wellspring Grocery, Bread & Circus, Mrs. Goochs, Fresh Fields and others (Whole Foods Market History, 2015). Being an international company, Marriott has built its reputation for the best quality, service excellence and innovation that best suits its main stakeholders- customers, the most powerful distributors of hospitality services and which have created the high name of Marriott. One of the ways that has helped the company to build its excellent reputation is the Marriott Reward program, which allowed the company to identify customer value and capture the essential customer knowledge for further business potential (The Power of Marriott International, 2015). For Whole Foods Market, its customers are those stakeholders, which are the lifeblood of the business and satisfying of which gives company an opportunity to satisfy the needs of other users (We satisfy, delight and nourish our customers, 2015). For such companies as Marriott International and Whole Foods Market, which do business abroad, there can appear a lot of economic and regulatory challenges due to the different regulations, directives, international standards and certifications. However, for Marriott International, which is guided by the principles of United Nations Universal Declaration of Human Rights and follows its Supplier Conduct Principles (Principles of responsible business, 2015) it is easier to cope with such challenges. Moreover, as reported by Financial Times (Raval, 2014), the company is accelerating its entering the high-end hotels by searching to present its image as mid-market operator. Thus, to attract younger and affluent visitors, the company renewed its focus on the luxury boutique hotels as a part of its broader strategy. Unlike Marriott, shares of Whole Foods Market have fallen by forty percent due to the competitors. Besides, according to Economist article (Victim of success, 2014), the organic food which Whole Foods Market sells is considered as to have negative influence on the environment and thus customers prefer to purchase non-organics. In terms of values and core business practices, Marriott International and Whole Foods Market are striving to attract more employees and customers by fostering its core values within and outside the company. Marriott International is recognized worldwide for enduring values, its spirit to serve and corporate commitment to developing better conditions to work and live. The main value for the company is people and Marriott International puts its emphasis on the care about employees, giving many opportunities for growth and success (Core Values & Heritage, 2015). For Whole Foods Market the main prerogative for its success is the provision and assurance in highest quality of natural and organic products that would satisfy and nourish the customers. The whole success would be impossible without collective energy of the company, thus people are the important asset for the company (Our core values, 2015). While the success of each business depends and is articulated to the extent the workforce is engaged, HR strategies are aimed to determine what an organization is going to do about its human resource management policies and practices. Moreover, HR strategies aim to meet business and human needs for further success of a company (Wright, 2015). The two types of HR strategies can be applied to the company’s performance, and they are the general and specific strategies. As Marriott International is committed to the provision of high quality service, such HR strategy as high-performance management should be applied toward the employees of numerous establishments of Marriott. These can be extensive training for the employees, performance management processes. Such strategy help staff feel good about their work and achieve positive sense of what they do (DAnnunzio-Green, Maxwell & Watson, 2004). The other strategy applied for Marriott can be organizational development, where planning and implementation of programs for effectiveness increasing would function. As specific HR strategy, resourcing for the high quality people and retaining them will help the company to set long-term targets and achieve them since employees would understand all the processes widely. For Whole Foods Market the key differentiator on the company performance is its people, thus it should put more emphasis on the training and development of its staff. Besides, such HR strategy as commitment to managing the social and ethical business is essential for such company as Whole Foods Market, which sells organic food. The other HR strategy can be engagement of employees toward development of policies and adherence to them in order to increase the level of work and organizational success. Martin (2014) states that a product, place, promotion and price are the main ways that help organization to differentiate company’s services from those of competitors’. However, only effective HR strategies will allow businesses to gain competitive advantage. Thus, if a company chooses lower prices strategy as an option for attracting more customers, that requires minimizing expenses for human capital which is not suitable for modern business. Instead, high qualified employees allow the company to offer superior product and services for the price appropriate for the business. With such HR strategies that are directed on the increasing of people’s engagement in the organizations as training and development, organizational development, planning and implementation of programs, resourcing, commitment to managing the social and ethical business and engagement of employees toward development of policies companies will be able to obtain a competitive advantage as its workforce will be equipped with all necessary skills and knowledge to lead the company to its excellence. References About Marriott International - Find Your World, 2015. [online] Available at: http://www.marriott.com/marriott/aboutmarriott.mi [Accessed on May 16, 2015]. Core Values & Heritage, 2015. Official website for Marriott International, [online] Available at: http://www.marriott.com/culture-and-values/core-values.mi [Accessed on May 16, 2015]. DAnnunzio-Green, N., Maxwell, G. and Watson, S. 2004. Human Resource Management: International Perspectives in Hospitality and Tourism, Cengage Learning EMEA Great place to work, 2015. [online] Available at: http://www.greatplacetowork.com/best-companies/100-best-companies-to-work-for [Accessed on May 16, 2015]. Martin, 2014. How HR strategy can help you gain a competitive advantage, Entreprenerurial insights, [online] Available at: http://www.entrepreneurial-insights.com/hr-strategy-competitive-advantage/ [Accessed on May 16, 2015]. Kalyani, M. and Sahoo, M. 2011. Human Resource Strategy: a tool of managing change for organizational excellence, International Journal of Business and Management, Vol.6, No.8 Our core values, 2015. Official website for Whole Foods Market, [online] Available at: http://www.wholefoodsmarket.com/mission-values/core-values [Accessed on May 16, 2015]. Principles of responsible business, 2015. The official website for Marriott International, [pdf] Available at: http://www.marriott.com/Multimedia/PDF/CorporateResponsibility/Marriott_Principles_of_Responsible_Business.pdf [Accessed on May 16, 2015]. Raval, A., 2014. Marriott pushes to continue its luxury transformations, Financial Times, [online] Available at: http://www.ft.com/intl/cms/s/0/04881780-b564-11e3-a746-00144feabdc0.html#axzz3aK2sA5sU [Accessed on May 16, 2015]. The Power of Marriott International, 2015. The official website for Marriott International, [online] Available at: http://www.marriott.com/Multimedia/PDF/Hotel_Development/PowerofMarriott_brochureEMEA.pdf [Accessed on May 16, 2015]. Victim of success, 2014. The Economist, [online] Available at: http://www.economist.com/news/business/21610289-peddler-pricey-organic-and-natural-foods-finds-it-has-competition-victim-success?zid=318&ah=ac379c09c1c3fb67e0e8fd1964d5247f [Accessed on May 16, 2015]. We satisfy, delight and nourish our customers, 2015. The official website Whole Foods Market, [online] Available at: http://www.wholefoodsmarket.com/mission-values/core-values/we-satisfy-delight-and-nourish-our-customers [Accessed on May 16, 2015]. Whole Foods Market History, 2015. [online] Available at: http://www.wholefoodsmarket.com/company-info/whole-foods-market-history [Accessed on May 16, 2015]. Wright, P. 2015. Human Resource Strategy, SHRM Foundation’s Effective Practice Guidelines Series Read More