Strategic Human Resource Management

 

Strategic Human Resource Management

                        Figure 1 - SHRM

 

What is Strategic Human Resource Management?

According to Peters, 2023 Strategic human resource management, sometimes known as "people strategy," It serves as a means of guaranteeing that the organization's human resources are employed in a manner that advances its objectives. Consider it as a link between the company's objectives and human resources. Businesses can use SHRM to better manage the performance and development of their workforce and to design initiatives and policies that align with their overarching business plan.

Importance of Strategic Human Resource management

There has been a growing concern over the last twenty years or so that HR may become isolated from business objectives and function as a distinct entity within enterprises. A growing demand was observed in all areas of human resources, which is crucial for enhancing productivity and giving businesses a competitive advantage. Thus, strategic HRM was created. Strategic human resource management's main objective is to overcome corporate goals or challenges that might not fall under the immediate jurisdiction of HRM. And we can find that there are many roles of SHRM as per the below diagram.

Figure 2 -The roles of SHRM

Benefits & advantages of Strategic Human Resource Management

Strategic human resource management, or SHRM, has many benefits/advantages. By ensuring that routine procedures are in line with corporate goals, SHRM promotes stronger hiring, better performance, and higher levels of employee engagement and satisfaction.

 

Mainly highlighted benefits of SHRM,

 

  • Increased Efficiency
  • Improved Employee retention
  • Improved Employee engagement
  • Improved Customer satisfaction
  • Increased profits

 

Increased Efficiency

      Enhanced effectiveness reduces the wastage of resources such tangible materials, energy, and time while achieving the intended results

 Improved Employee retention

     Employee burnout can be decreased by developing and enhancing strategic human resource management, maintaining consistency in management style, and being transparent.

 Improved Employee engagement

     Able to enhance worker engagement and produce greater results for the company

 Improved Customer satisfaction

    Can assist a business in deciding how to alter or improve its goods and services

 Increased profits

    Profits increase naturally and without effort every day, according to SHRM's final results.


Figure 3-Benifits of SHRM

Conclusion

Apart from mentioned benefits/advantages there are many benefits comes under SHRM. Strategic HRM's primary goals are to address problems with corporate culture, effectiveness, structure, performance, and resource matching. It entails efficiently managing human capital in addition to enhancing process skills

 

References

Anon.,n.d.mbaskool.[Online]
Available at:https://www.mbaskool.com/business-concepts/human-resources-hr-terms/7152-strategic-human-resource-management-shrm.html
[Accessed 26 March 2024].

Haan,K.,2023.ForbesAdvisor.[Online]
Available at:https://www.forbes.com/advisor/business/strategic-human-resource-management/
[Accessed 26 03 2024].

Peters,R.,2023.CIPD.[Online]
Available at: https://www.cipd.org/en/knowledge/factsheets/strategic-hrm-factsheet/#what
[Accessed 26 03 2024].

 

 


 





Comments

  1. Milinda PereraMarch 26, 2024 at 4:22 AM

    The page discusses several topics related to SHRM, such as its definition, significance, advantages, and sources used to bolster the content. This all-encompassing strategy guarantees that readers will comprehend the subject matter completely. and additionally enhance When demonstrating how SHRM principles have been successfully applied in organizations, think about incorporating case studies or examples from the actual world. Readers can better understand the content and see how SHRM principles are applied in real-world situations when concrete examples are provided. wishing you luck 👍

    ReplyDelete
  2. Saranga ThilakaratneMarch 26, 2024 at 6:14 AM

    This article is well-written and impressively explained. I enjoyed how you explained Strategic Human Resource Management (SHRM) is a vital tool for organizations to align their workforce with business objectives, enhancing efficiency, employee retention, customer satisfaction, and profits, by integrating HR practices with broader business strategies.
    Hope to see more content from you. Wish you all the best!

    ReplyDelete
  3. Laurena CottlingMarch 29, 2024 at 6:14 AM

    A strong basis for comprehending the idea is provided by the short and straightforward explanation of SHRM as a link between an organization's goals and its people resources which makes it easier to understand.

    ReplyDelete
  4. Duke PrithivirajApril 14, 2024 at 10:05 PM

    Strategic human resources management wel explained

    ReplyDelete

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