Human resource strategy is shaped by globalization. In the modern world, not only human resource management is important to ensure a sustainable competition of organization in the market. It calls for a labor market force with a global outlook which entails finding the right people at the right time and giving each person the correct job. Globalization ensures that human resources shift from local management to an international management establishing a global HR platform.
Technological innovations also play a pivot role in influencing HR strategies. Adoption of technology by use of internet and social networks determines how competitive an organization is in the market. It calls for HR information systems to ensure that job seekers and customers have access to an organization’s profile through the Internet.
Management of talent is crucial in addressing the challenges of recruitment and retaining highly capable employees by branding and setting transparent standards which boost morale and awareness improving employee performance.
As such, a HR system should focus on understanding the talents of its work force to ensure competence and quality service. Demographic management in HR also plays a major role in the assessment of the type of employees based on their age, gender and skills. These criteria should be identified to attract a competitive top management team.
HR plays a major role in managing the work force to ensure it is productive and efficient as much as possible by utilizing the available resources, compliance to the law and ensuring that business goals are achieved. It focuses on recruitment reward and disciplinary aspect of its employees.
Many organizations adopt different HR strategies in order to meet their HR goals. One such strategy is the use of SWOT analysis method. This strategy examines the strengths, weaknesses and opportunities to be met by an organization with view of establishing central factors, either internal or external, that are vital in the evaluation of the objectives of organization.
The outcome of a PESTLE analysis makes it possible for an organization to adequately prepare for the emergencies incidental to its operations. This strategy groups key pieces of information according to external factors which include opportunities and strengths presented by the external environment. It then categorizes internal factors to include strengths and weaknesses that are internal to the organization.
The other strategic planning tool in HR is the PESTLE Analysis. It looks at the external business environment that includes political, economical, socio-cultural, technological, legal and environmental aspects. It examines the impact of each factor on the business.
An organization, having used the PESTLE and the SWOT analysis methods, can assess the effectiveness of its strategies by looking into such factors as missed targets, the levels of unmitigated risks, the turnover of leaders and the high potential staff, the level of ROI on the key strategic projects and investments, the levels of customer, employee, suppliers and partners’ satisfaction.
There are various ways in which a company can measure the effectiveness of its strategies. There are equally many ways in which such effectiveness can be communicated by the company. It can hold individual employees accountable for their individual performances. The company can also challenge and facilitate all its workers to perform to the next level in the organization’s management hierarchy. This ensures that well performing employees are rewarded, thus encouraged to improve their output.