Exercise 1

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School

Universal Business School Sydney *

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Course

311

Subject

Management

Date

Nov 24, 2024

Type

docx

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Uploaded by Musika

Part 1 (1) Objective: To provide you with an opportunity to analyse strategic plans to determine human resource strategic direction, objectives and targets. Requirement: Why is it important to have a human resource (HR) strategic plan? Every step of a plan requires human resources. Human resource is necessary for: -Planning -Implementation, i.e., hands-on, make it happen -Supervising/Project Management -Costing -Administration The strategic plan makes employees ready for the business plan of the organization. -Training requirements -Matching skills required to people -Getting the right people -Human resource is expensive -Typically the most expensive -Ensure this costly resource is used wisely -Budget restraints – Wages, Training -Meet with the objective of the business plan & company vision -Key decision-making -Succession planning What information do you need in order to determine the HR strategic plan? Business Plan, Vision – Strategic Plans (Short & Long) Budget restrictions Roles & Responsibilities. Org Chart Feedback from employees, clients Training requirements & courses Why is it important to have clear and specific HR strategic objectives? When you define the HR objectives, assure they are SMART, so that clear objectives are set for monitoring progress and assessing outcomes. For instance, a SMART goal aligned to a reduction strategy to reduce costs might reduce production team posts by five percent by the end of the fourth quarter.

S- Specific: Target and clearly define a specific area that you require to improve. M- Measurable: Suggest an indicator of progress; quantify if possible. Discover how you will know the goal has been achieved. A. Attainable: Agree what the goals should be and keep them achievable in the time frame R- Realistic: Know what results can realistically be achieved given the available resources, knowledge, and time T- Time framed: Specify when the result can be achieved; make sure there is sufficient time to accomplish the goal, but not too much time. Give an example of a clear and specific HR strategic objective. Recruit workers with multiple skills Recruit people with a productive background Train people in innovation Set up a regular “brainstorming.”

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Exercise 1

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