Human Resource Management Best Practices || Human Resource Assignment Writers
This week you will continue to explore best practices from Application Assignments during Weeks 3 through 5, and you will submit your final report. Your Learning Resources this week provide you with additional research and strategic HRM best practices for your consideration. As you learned earlier in the course, by maintaining various talent pools or skill sets within a given organization, specific HRM practices have been demonstrated to impact organizational performance. Investments in staffing, training, or compensation can be targeted to areas where the most significant strategic gains can be realized by managing key talent and creating value through the management of knowledge throughout the organization.
Organizations can create a human capital advantage by utilizing practices to encourage learning and development so that the skills of their employees exceed those of their competitors. As a result, performance can improve and high-quality talent is more likely to be attracted to an organization, providing continuous opportunities for learning and individual skill acquisition. These non-financial rewards positively impact employees' engagement and commitment throughout the organization. Specific strategic HRM practices that encourage knowledge sharing, learning, and innovation throughout the organization can include rewards and performance management. For example, a reward system that is team-based will encourage and motivate collaboration since employees' outcomes are dependent upon the sharing of knowledge to create the necessary value. You should keep this in mind as you finalize your report this week.
In a 4-page paper, include the following in the Final Report:
- Background and introduction to the topic of strategic HRM best practices and their relevance to HR professionals;
- An introduction to the strategic HRM best practices you are recommending and the reasons they were selected, with references to the literature;
- How these new practices would align with the organization's strategic goals and any gaps in alignment that currently exist;
- Examples of organizations in similar industries using these best practices and how they impact their competitive advantage;
- Expected outcomes by adopting these practices on organizational performance, innovation, and quality;
- Provide specific examples with references to the literature and strategic HRM theories throughout the paper to show support and provide a foundation for your recommendations.
To begin with, people need to understand that human resource best practices are functional events as well as strategic plans that allow enhanced services t workers and heightened profitability for the employer. In particular, the term best practices references actions that are successful approaches for desired outcomes in the human resource sector, numerous best practices exist in every discipline (Huselid,1995). As a matter of fact, strategic human resource management is designed to offer human resource practitioners an extensive understanding of the correlations existing between overall corporate strategy as well as the human resource element of that strategy.
As a matter of fact, managing ahuman resource is regarded the most as well as important component of successful organizations. To maintain as well as sustain the competitive edge, the HRM best practices occupies more significance as compared to technology and finance. The practices are important in all industries where workers are the fundamental source of contact with customers whether it is a face-to-face meeting or its telephone or over the internet service encounter.In simple terms, people need to understand that human resource management is groundedin the pluralist perspective that employees as well as management possess various and conflicting interests(Huselid, 1995). Therefore, the application of HRM best practices helps in taking into consideration the two sides of theorganization to ensure high productivity.
Strategic human resource management becomes significant in the Modern's competitive international marketing environment. In this case, agile innovations count on attracting as well as managing top talent, individuals who have the skills for digital communication, social media participation, cross-training in various competencies and making relevant contributions to an organization’s culture and core values (Çalişkan, 2010). Specifically, this makes strategic HRM important to attract, retain, as well as develop human capital.
Some of the strategic HRM best practices include the right HR policies and technologies, which can automate management tasks. In particular, streamline administration, nurture client service, promote staff participation, and control the critical service model that has replaced or even strengthened the conventional manufacturing business model. It is evident that the implementation of this model is vital in various organizations for their successful operation. In the modern era, theuser-friendly digital environment is required to construct strategic partnerships, develop excellence in service delivery, as well as control every aspect of the customer experience (Purcell, 1999). As a matter of fact, this needs an informed participation, which is technologically savvy and loyal workforce.
It is important to note that the contemporary strategic HRM counts on software, digital tools, technology, as well as proactive human intelligence to stimulate employee participation, attract, and retain top talent as well as manage succession planning and meet organization short and long-term goals. Some of the fundamental consideration in any strategic HR management plan consists of offering opportunities to engage staff so that they can demonstrate their abilities, skills, and competencies(Hays & Plagens, 2002). What is more, the plan must consider providing workers ways to advance their careers and learn innovative skills. Improve work experience by managing conventional HR tasks, such as onboarding, hiring, making payroll, and initiating disciplinary actions in transparent, participation ways, and consistency.
In simple terms, strategic HR management is considered the bridge between critical organization business initiatives as well as the practical tactics and actions required to make the crossing most directly and beneficially. Some of the strategic HR management best practices include a reward system and performance management (Hays& Plagens, 2002). Ideally, the aforementioned practices can encourage knowledge sharing, innovation, and learning throughout a company. For instance, a reward system, which is team-grounded encourages as well as motivates collaboration, as workers’ results are dependent upon sharing of knowledge to develop the necessary value.
Human resource management best practices have been depicted to influence organizational performance. Therefore, it is clear that investments in different sectors, such as training, compensation, or even staffing can be targeted to regions where the considerable significant strategic gains can be recognized by controlling underlying talent as well as coming up with great values via the management of knowledge throughout the organization. In particular, companies can come up with a human capital edge by using practices to encourage learning and development so that the skills of their workers exceed those of their rivals(Purcell, 1999). Consequently, performance can improve as well as high-quality talent is expected to be attracted to an enterprise, offering continuous opportunities for learning and individual skill acquisition.
Each company intends to possess an advantage over its rivals to sustain as well as gain competitive edge. In most cases, service enterprises have paid strategic attention in aligning human resources to serve the aforementioned cause. It is evident that most of the organizations have trouble to recruit, develop, motivate, and retain competent work force in stiff competitive environments.Using the State Bank of India as an example, the organization has attempted to generalize in this regard for emerging economy. Studies indicate that the employees of the Bank are happy with the HR practices employed by the Bank. It is important noting that competitive advantage counts on workers’ satisfaction and commitment (Pahuja& Dalal, 2012). The State Bank of India has adhered to sound human resource practices, and they are doing a commendable job to gain as well as retain talented employees. Precisely, this has given the firm a competitive advantage against its competitors. What is more, the Bank uses compensation and reward system as a reinforcement to employees, and this made workers motivated, committed, and satisfied at all the levels. On the same note, the Bank is administering different training aimed at heightening and maintaining each person’s job-related skills and offering them opportunities to develop(Pahuja & Dalal, 2012). Additionally, the Bank is promoting a healthy culture where workers are empowered to take decisions, and there is anenvironment of trust. In simple terms, the State Bank of India is gaining competitive edge via its human resource practices.
The expected outcomes by adopting the aforementioned practices on organizational performance, innovation, and quality, are significant. To begin with, the HR management best practices motivate employees to work hard towards a firm’s set goals. Precisely, the practices enable workers toexecute their duties collectively with a common agenda of achieving the set objectives. On the other hand, the practicesenable human capital to become creative and innovative. The reason is that companies adopting these practices allow their employees to come with innovative ideas on how to tackle a problem at hand. Last but not least, the practices play a critical role in enhancing quality. The treason is that a motivated employee is at liberty to work to the fullest to attain a commendable quality.
Çalişkan, E. N. (2010). The impact of strategic human resource management on organizational performance. Deniz Bilimleri ve Mühendisliği Dergisi, 6(2).
Hays, S. W., & Plagens, G. K. (2002). Human resource management best practices and globalization: the universality of common sense. Public Organization Review, 2(4), 327-348.
Huselid, M. A. (1995). The impact of human resource management practices on turnover, productivity, and corporate financial performance. Academy of management journal, 38(3), 635-672.
Pahuja, S., & Dalal, R. C. (2012). Achieving Competitive Advantage through HR Practices: A Case Study. Journal of Strategic Human Resource Management, 1(2), 35.
Purcell, J. (1999). Best practice and best fit: chimera or cul‐de‐sac?. Human resource management journal, 9(3), 26-41.
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