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We always hear CEOs asking the HR fraternity to align with business objectives. They often sigh that HR is too focused on operational issues and doesn't help them strategically.
Let's not debate who is missing the point here: business leaders or the HR managers? It's the 'elephant in the room' and let's address the issue in this newsletter edition.
We discussed OKR in our earlier issues. In this issue, let's focus on strategic HR!
What does it mean to align HR goals with?business?objectives?
Young HR managers often ask: We do everything that our job description says, what else can we do? We take care of?attendance management, payroll generation, recruitment, training and development activities. And?how?can we forget compliance and policies?
Aren't these all important for the smooth running of business??
Now look to it from a wise CEO's point of view:
HR managers do their best in given time and resources. Without these functions, the business will not operate properly. And that's why we call them HR operations. But the same functions can be done with a strategic angle. And that will give us a?competitive advantage?in the marketplace.?
Strategic HR that leads to competitive advantage.
That's what CEOs and business owners are looking for!
What is strategic HR?
Strategic HR is an approach that?links the workforce with core strategies, business objectives and goals of an organisation.?
Let's see how it differs from the standard operational HR approach?
The operational HR works on a contingency approach. It focuses mainly on the day-to-day functioning of the organisation. But strategic HR takes a long-term view, and creates a framework to ensure all HR processes contribute to the company's growth and success.
In strategic HR approach, HR team works on 2 levels of strategies--
On an organizational level,?they develop a healthy work-culture, create benchmarks for Revenue/employee, Production/worker. They create targets for lowering employee turnover and controlling the human resource cost. These numbers help them in creating relevant and competitive human resource policies.
On process levels, they develop and implement strategies for attracting, retaining, training and managing relevant talent. They make sure that these all activities align with the business goals.
So, strategic HR involves all the standard HR processes, but it has a framework that ensures that all HR activities contribute to the business goals.?
How?to link company values with HR processes?
Imagine a company that gets a competitive advantage in the marketplace by the problem-solving abilities of its employees. Now, how to link this value with various aspects of HR?
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This chart by consulting firm Stratechi beautifully depicts this. It also shows how another firm with a focus on?entrepreneurial?skills will use the strategic HR approach.
Resources:
Reference Website:?
Here are 2 books that HR must study to get a better sense of HR today:
Courses:
Strategic HR in modern times:
Human resource management and strategic HR:
Do share your recommendations, insights and thoughts with us:
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