Strategic HRM Plan

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Jun 11, 2024

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Strategic HRM Plan Strategic HRM Plan Grand Canyon University Human Resources Dr. McGlory McGlory 03/15/2024 1

Strategic HRM Plan Introduction Human resource (HR) goals are critical in achieving corporate goals because they match the workforce with the organization's overarching strategic objectives. Recruiting, choosing, and keeping outstanding employees who share the organization's values and culture are common HR priorities (Conway, B. 2023). HR works to guarantee that the company has the human resources required to meet its objectives by hiring people who possess the appropriate abilities, knowledge, and attitudes. HR objectives center on helping staff members advance their knowledge and abilities to increase output and performance. By providing training and development opportunities, HR ensures that employees have the capabilities needed to contribute effectively to organizational objectives. Performance Management includes establishing performance standards, conducting performance evaluations, and providing feedback to employees. HR can help ensure that staff are motivated and aligned with business goals, which leads to better overall performance. Creating a happy workplace where workers feel inspired, engaged, and satisfied is often at the center of employee engagement and satisfaction goals. Employees that are engaged are more likely to be dedicated to the organization's objectives and go above and beyond to make it successful. Succession Planning and Leadership Development involve identifying and developing future leaders within the organization (Noe, R. A., & Hollenbeck, J. R., 2024). By implementing succession planning initiatives and leadership development programs, HR ensures that the organization has a pipeline of capable leaders who can drive strategic initiatives and achieve long-term goals. Diversity and Inclusion include promoting diversity and inclusion within the workforce. By fostering a diverse and inclusive workplace, HR ensures that the organization benefits from a wide range of perspectives and ideas, leading to 2

Strategic HRM Plan innovation and better decision-making, which in turn supports organizational goals. Compliance and Risk Management encompass ensuring compliance with relevant laws, regulations, and internal policies. To support the organization's long-term objectives, HR helps safeguard its financial stability and reputation by reducing legal and regulatory risks related to labor management. In general, HR objectives are closely related to organizational objectives since they center on utilizing the workforce to its fullest capacity to propel corporate success. HR makes an investment in the growth, happiness, and welfare of workers, which helps to build a high- performing company that can accomplish its strategic goals. Microsoft Organization Microsoft Corporation, commonly known as Microsoft, is a multinational technology company headquartered in Redmond, Washington. Founded by Bill Gates and Paul Allen in 1975, Microsoft is one of the world's leading producers of computer software, hardware, and services ( Organimi., 2024). The company is renowned for its flagship operating system, Windows, which dominates the PC market. Microsoft also offers a wide range of products and services including the Microsoft Office suite, cloud computing services through Azure, gaming consoles with Xbox, and professional networking platform LinkedIn. In recent years, under the leadership of CEO Satya Nadella, Microsoft has undergone a significant transformation towards cloud computing and AI-driven solutions. It has also expanded its reach into areas such as artificial intelligence, mixed reality, and quantum computing. Microsoft is known for its strong focus on innovation, strategic partnerships, and commitment to empowering individuals and organizations through technology. 3

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Strategic HRM Plan SWOT analysis A strategic planning tool called SWOT analysis is used to assess a project's or commercial venture's opportunities, threats, weaknesses, and strengths. Advantages Internal qualities and assets that set a company apart from competitors in the market. elements that help achieve goals and objectives in an efficient manner. A solid reputation for the brand, in-house technology, a knowledgeable staff, a devoted clientele, effective procedures, etc. are a few examples. Strengths are usually under the organization's control. Limitations Internal elements that make it more difficult for the company to meet its goals or operate at peak efficiency ( MindTools, 2024). Areas where the company falls short of competitors in terms of resources or competencies. A few instances are inadequate capital, antiquated technology, unfavorable sites, unskilled labor force, etc. The organization can also manage its weaknesses by making calculated strategic initiatives. Prospects circumstances or outside variables that the company could take advantage of. Opportunities may arise because of new trends, market expansion, technological developments, shifting consumer tastes, etc. Gaining a competitive edge and experiencing growth are possible outcomes of spotting and seizing opportunities. Although opportunities are beyond the organization's control, they can nevertheless be successfully utilized. Threats are outside elements or circumstances that have the power to negatively impact the viability or performance of the business. Threats include things like competition, economic downturns, alterations in regulations, shifting customer behavior, technological upheavals, etc. To lessen the effect of risks, organizations must anticipate them and take appropriate action. Although threats are uncontrollable as well, they can be handled proactively by the company (MindTools, 2024). 4

Strategic HRM Plan Organizations can utilize the information obtained from a SWOT analysis to create strategies that leverage opportunities, address weaknesses, capitalize on strengths, and reduce threats. It supports risk management, strategic decision-making, and general performance enhancement. It also offers a framework for comprehending the external and internal variables influencing a company's place in the market and directs the creation of action plans to meet goals. SMART criteria SMART criteria are commonly used as a framework for developing goals and objectives. Objectives must be precise and unambiguous, removing any possibility of doubt. Measurable objectives are those that can be measured to monitor advancement. Realistic and reachable goals considering the resources and limitations at hand are what make them achievable. These should be relevant to the mission and overarching objectives. Time-bound objectives ought to have a set completion date or period. Individuals and organizations can develop more productive and doable goals by following these guidelines ( Surabhi, & Khandelwal, M., 2024). These criteria are satisfied by the next three HR objectives. Increase Staff Morale by 15% in the Next Quarter. Reduce the staff turnover by 10% during the following six months. Achieve a 20% increase in the number of minorities occupying leadership positions within the following year. Specifically improve overall employee engagement through targeted initiatives such as regular feedback sessions, skill development programs, and wellness initiatives. Measure current engagement levels through surveys or feedback mechanisms and set a specific target of a 15% increase. Ensure the goal is realistic by implementing strategies that have proven to positively impact engagement, allocating necessary resources, and garnering support from management. 5

Strategic HRM Plan Relevant Employee engagement directly impacts productivity, retention, and overall organizational success, making it a relevant goal for HR. Overall employee involvement increased through wellness campaigns, skill development courses, and feedback sessions. Establish a clear goal of a 15% increase and use surveys or other feedback methods to gauge the present level of participation. By employing tactics that have been shown to increase participation, assigning the required resources, and gaining management backing, you can make sure the goal is doable (Surabhi, & Khandelwal, M., 2024). HR should prioritize employee engagement as it directly affects retention, productivity, and overall organizational success. Organizations can reduce employee turnover by addressing major causes such as poor training, lack of advancement, and discontent with management. Keep an eye on the turnover rate as it stands and set a 10% reduction goal. To make the goal attainable, put in place retention methods like work-life balance enhancement, mentorship programs, and professional development activities. It is important for HR to reduce high turnover rates because they can be expensive for businesses in terms of hiring, training, and lost institutional knowledge (Noe, R. A., & Hollenbeck, J. R., 2024). Efforts must be made to increase diversity representation, especially in leadership positions, through inclusive policies, leadership development initiatives, and focused recruitment tactics. Determine the present level of diversity in leadership roles and establish a goal of 20% more representation for various groups. To do this, adopt diversity- focused hiring practices, give underrepresented groups access to mentorship and leadership development programs, and foster an inclusive workplace atmosphere. Diversity in leadership is a pertinent HR goal because it promotes creativity, improves decision-making, and reflects the 6

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Strategic HRM Plan broad consumer base. Set a one-year timeline for attaining 20% increase in diversity representation in leadership and establish a date for progress evaluation. Goals and strategies Aligning human resources (HR) goals with strategic plans is essential for the overall success of an organization. There are several methods to match HR objectives with strategic initiatives. The strategic objectives, aims, and priorities of the company must be well understood by HR experts. This includes understanding the organization's mission, vision, and values, as well as its short-term and long-term strategic plans. Based on the organization's strategic direction, HR professionals can develop an HR strategy that supports and aligns with the overall business strategy. Setting HR goals and objectives that help the company achieve its strategic goals may be one way to do this. Hiring and hiring individuals with the competencies required to carry out the organization's strategic initiatives should be HR's priority (Noe, R. A., & Hollenbeck, J. R., 2024). To do this, it might be necessary to pinpoint key positions, plan the workforce, and put focused recruitment techniques into action. HR should invest in employee development and training programs that help employees acquire the skills and competencies required to support the organization's strategic initiatives (Conway, B. 2023). Offering workshops on skill development, leadership development programs, and training on new technology are a few examples of how to do this. By aligning HR goals with strategic plans, organizations can ensure that their human capital is effectively utilized to drive business success and achieve long-term growth and competitiveness. 7

Strategic HRM Plan Organizational Goals Setting hiring goals that align with both human resource (HR) goals and organizational goals is essential for ensuring that the workforce meets the needs of the company while also contributing to its overall success. A structured approach looks like starting by understanding the broader objectives and strategies of the organization. Conduct a thorough analysis of the current workforce. Identify any skill gaps, areas of expertise lacking, or potential overstaffing. Consider the future needs of the organization based on projected growth or changes in the industry ( Quain, S., 2019). Based on the organizational goals and HR needs analysis, establish clear and measurable hiring goals. These goals should be specific, achievable, relevant, and time-bound (SMART). For example, the goal could be to hire a certain number of software engineers within the next six months to support the development of a new product line. Periodically review and evaluate the effectiveness of hiring goals and recruitment strategies. Identify areas for improvement and adjust as necessary to better meet HR and organizational objectives. Organizations can establish hiring goals that not only meet HR needs but also contribute to the achievement of broader organizational goals, ultimately driving success and growth. Conclusion In conclusion, aligning human resources (HR) goals with strategic plans is paramount for organizational success. HR professionals must thoroughly grasp the company's strategic direction, including its mission, vision, and values, to develop an HR strategy that supports these objectives. This entails setting HR goals and objectives that contribute to achieving the 8

Strategic HRM Plan organization's strategic initiatives, such as hiring individuals with the necessary competencies and investing in employee development programs. A structured approach to setting hiring goals involves analyzing the current workforce, identifying skill gaps, and considering future organizational needs. By establishing clear and measurable hiring goals aligned with both HR and organizational objectives, companies can ensure that their workforce effectively drives business success and facilitates long-term growth. Regular evaluation and adjustment of hiring strategies are essential to continuously meet HR and organizational goals, ultimately leading to sustained success and competitiveness. 9

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Strategic HRM Plan References Conway, B. (2023, January 24). Strategic alignment: HR and Company Business Goals working as one. EmployeeConnect HRIS. https://www.employeeconnect.com/blog/strategic- alignment-hr-and-company-business-goals-working-as-one/ Microsoft’s organizational structure [Interactive Chart] . Organimi. (2024). https://www.organimi.com/organizational-structures/microsoft/ Barney, N. (2023, October 4). What is Human Resource Management (HRM)?: Definition from TechTarget. HR Software. https://www.techtarget.com/searchhrsoftware/definition/human- resource-management-HRM Nagendrag. (2024, January 4). What is Workday Compensation & Workday Compensation Fundamentals. CloudFoundation. https://cloudfoundation.com/blog/what-is-workday- compensation/ “Workday.” (August 2019). Company Overview. https://www.greatplacetowork.com/certified- company/1269734 Workday compensation. (2017). https://www.workday.com/content/dam/web/uk/documents/datasheets/datasheet- compensation-uk.pdf SWOT Analysis . MindTools. (2024). https://www.mindtools.com/amtbj63/swot-analysis 10

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