Strategic Human Resource Management And The Strategies Of HRM (Research Paper Sample)

STRATEGIC HUMAN RESOURCE MANAGEMENT
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Businesses are always at risk of being faced with diverse problems. How the business fights these problems determines its ability to remain in the market and how competitive it becomes. Businesses can face a number of problems that need to be addressed if the business has to move on.
Business Challenges
The problems that can face every business include Integrity which refers to moral challenges such as deceiving or stealing from the others. The capital expenditure and receivable collections that drain the firm’s cash are also an additional problem. The rise in the overall selection, as well as more focused competition, is also an additional problem. Another problem is maintaining the customer loyalty while reaching new customers in a cost-effective manner. Due to the existence of economic struggles as well as global debts, uncertainty becomes a problem for many businesses. Other major problems that may face a business are: Finding the right staff, problem-solving and risk management as well as changing the regulatory environment. These problems tend to affect the HRM within the business. Therefore, a number of HRM strategies must be employed to find the solution to these problems. HRM strategies refer to the strategies that pertain to management of the human resource like the way the organization plans to manage structure, culture, people, development and training and determining the way and the manner in which deities best fit into the future growth of the organization (Banfield, & Royles, 2018).
HRM Strategies
These problems have an effect on the HRM strategies that the business wants to employ (Banfield, & Royles, 2018). These problems act as the determinant of the type of a person needed to be a worker in the firm, the way the organization advertises its vacant positions and the way it recruits the needed talents, organization’s leadership and management style, the jobs that will carry specific functions and the individuals who will act as managers for those departments as well as the development of the organization in terms of how training of the employees, in the long run, will take place (Banfield, & Royles, 2018).
Luckily, there exists a number of HRM strategies that can be designed to help seek the solution to all these problems. These strategies include Extensive recruitment and selection of the employees in the case where the organization needs employees to fill certain positions. Here, employees are recruited, assessed and evaluated in order to come up with the best person to fill up the positions. This could involve possession of a number of techniques, intelligence and integrity tests among other basic qualification and skills. Extensive training as a strategy can also be employed. It involves employees’ development by introducing training programs to equip them with the knowledge required to counter changes in production and market. Introducing PRP where employees share a certain percentage of profit and rewarding those that are performing best is also a major strategy (Banfield, & Royles, 2018). Making use of teamwork ensures that the hierarchical model gets broken thus ensuring decentralization of tasks. Sharing of information is also necessary since it makes the superiors in the organization to be committed to the primary changes in the organization. Provision of support by the top officials on the communication process is relevant in ensuring that the desired changes in the organization are implemented. Minimizing the element of status difference by avoiding of status symbols also helps to solve the organizational problems. Providing the employees with employment security through acts such as the provision of insurance is also relevant in ensuring that the problems within the organization are solved. Additionally, ensuring that the firm follows the stipulated rules of the area it operates in ensures that it does not collide with the law enforcers.
Types of Fit Approach
A number of fit approaches exist and they include: Strategic fit which refers to the link existing between the business strategy and HR systems which focuses on fostering stimulation among workers to meet the set goals of the organization (Banfield, & Royles, 2018). This was achieved in Walmart through employees working for long hours in accordance with the organization’s strategy of employee appraisal
Internal fit ensures that there exists a link between the HR system and diverse HR practices ensuring coherence in the HR system which is subject to HR practices (Banfield, & Royles, 2018). Walmart achieves internal fit through Prevention of shrinkage, a common conduct among its workers and also the elimination of cigarette breaks that are unauthorized as well as the quick trip home.
Organizational fit refers to the existence of a link between the essential organizational systems and the HR system (Banfield, & Royles, 2018). Such critical systems may include the system of production, technological system and control system. Walmart achieved organization fit through locating its industries in China and buying products in bulk from China.
Environmental fit refers to the link between the external environment and the HR system (Banfield, & Royles, 2018). It advocates for the adoption of the rules and external changes with an effect on the organization. Walmart has displayed Environmental fit by allowing unionization where there are formation workers unions to air the grievances of the workers to the top offices
Achievement of Strategic Fit
The firm tries to achieve strategic fit by ensuring that if the workers need to be part of employee appraisal, they must work for long hours, paid fewer salaries and even paying women workers lesser salary compared to men which maximize the company’s output and reduces its cost of operations.
Walmart employs cost leaders strategy as a corporate business strategy by acting as a provider of products at the low-end point...