What can HR do? We know from studying those companies that are making progress in measuring the efficiency, effectiveness and impact of HR that building a thriving human capital management metrics process takes four ingredients: good people information, a culture that makes decisions based on data, effective tools and dedicated resources. But we also know that most organizations aren’t willing to devote much time and effort to this process. As a result, absent a major breakthrough, we believe that for most organizations, the measurement of human capital management will look only incrementally better 10 years from now.
These cutting-edge organizations will eventually have predictive models that will help determine which roles, skills, knowledge and behaviors increase productivity, drive profitability and give the organization a competitive advantage. Through better employee planning and development, employee engagement should increase with new transparency and empowerment. There will be a virtuous cycle, because the talented and driven will want to join these companies, making them the new employers of choice and role models of the organizational world. They will represent real-world versions of a modern managerial ideal: the organization that is so excellent in so many areas that it consistently outperforms most of its competitors for extended periods of time.
International Human Resource Management:
The globalization of the business community and markets has created multinational corporations that rely on managers and others who have developed the skills necessary to conduct business on an international level. Because of this there have been many companies which have focused on career management, career development and management development as the core aspect of their human resource management programs. Human resource management (HMR) can be seen traditionally as a “comparatively new approach to personnel management which considers people as the key resource. It subscribes to the notion that it is important to communicate well with employees, to involve them in what is going on and to foster their commitment and identification with the organization.
Common Mistakes
If strategic planning is so straightforward, why is it so difficult? Our experience reveals six common mistakes:
* No agreement on core values and shared vision. Executives often assume managers understand the organization's core values and shared vision, but these need to be reiterated often in order to be truly embraced. If a manager disagrees with the stated values and vision, he or she is in the wrong company.
* No clear goals. Managers and employees need to understand where the company is going. These goals should be clear to everyone.
* No apparent strategy. Managers and staff alike need to understand the plan of action that has been formulated to achieve the goals.
* No implementation plan. Goals are just words on paper. Specific people need to be held responsible for implementing plans to achieve the company strategy.
* No quarterly follow-through. Management needs to examine the plan quarterly to monitor how actual performance relates to the plan. If the company is off-target, management needs to determine why it is not achieving goals and what can be changed to improve performance.
* No clear priorities for resource allocation. If managers are given goals without the necessary resources to accomplish them, plans will not be successful.
According to an expert “the human resources management system must be tailored to the demands of business strategy”.
Ideally HR & top management work together to formulate the company’s overall business strategy; that strategy then provides the framework within which HR activities such as recruiting & appraising must be crafted. If it is done successfully, it should result out in the employee competencies & behavior that in turn should help the business implement its strategies & realize its goals.
In order to be successful the employees should be developed in such a manner that they can be the competitive advantage, & for this the human resource management must be an equal partner in both the formulation & the implementation of the corporate & competitive strategies. Successful strategic planning seeks input from all stakeholders, including the shareholders, customers, suppliers and people, to identify the part each has to play to ensure the delivery of the business strategy. Given the global trends referred to earlier, the 'people' part of the strategic planning takes on new significance, since the capacity of the organization to learn is fundamental to improvement. The learning component of HR strategy becomes the business's own learning strategy.
To harness intellectual capacity and to get and keep the best people, far more innovative approaches than performance-related pay are necessary. Organizations have to create fluid structures of employment. This may mean that it is prudent to accommodate employees' own business interests within the umbrella of the organization. To get value from their key assets, organizations need to build environments in which their people are prepared to share their ideas rather than leaving the company to develop them.
Whilst many organizations are investing heavily in employee development to retain the best, the future suggests more fundamental rethinking of the employee relationship. Knowledge and intellectual capacity are likely to be the traceable commodities of the labor market (in higher education they already are). They will also be the competitive edge in organizations where they are the only tangible asset. Effective integration of HR planning and business planning offers a credible vehicle for achieving business excellence
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