Strategic human resources management is aligning hr plans to the organizations business goals through leveraging on its most important asset which is human capital.
Planning strategically is futuristic, first, you must carefully analyse these 3 questions
Where am I/is the company now?
Where do I or the company wants to go?
1. Strategy conceptualization;
this is where you gather and analyse information from within and outside the organization to get a forecast of the organization’s current position, capabilities, and limitations, specifying your vision, mission, and values.
Let’s say you have a bakery, at this phase, you find out your current production metrics,(within the organization), find out the market trends and how you can plunge in to create your own space (outside the organization), cost and availability of the items for production, methods of production; is it cost-effective or cost-efficient,(electricity situations)? are your staff/manpower knowledgeable at the work they do? and do they understand the uniqueness or difference you want your brand to create in the value chain? does their ethics align with your organization’s mission and vision?
2. Strategy advancement;
After gaining clarity and knowledge of the organization’s internal/external environment through the information you got, it’s time to fixate on questions of the how-to-compete, where to compete, develop ways to utilize the organizations’ resources to create a competitive advantage, decide either to grow organically, outsource or break into new markets.
Now you find out the most outstanding bread in the market, find out their sell-out factor if its either the price, flavour, packaging, etc. then with the resources you currently have, figure ways you can set yourself in the market to offer better with respect to those factors, you can scout for geographical deficiencies and leverage to grow metrics, decide either to outsource your packaging and also dispatch/delivery van or have them internally, you can also decide to break into new markets or expand by adding new varieties of baked products.
the outcome of this phase is a strategy or set of systems that have “fit”, which goes on to help your activities stay consistent and optimized to reach the strategic goal.
3. Strategy execution;
This phase becomes easier because you already have a detailed framework.
Here you build an action plan, allocate budget and resources (physical, financial, technological, human, etc), and motivate employees.
4. Strategy evaluation;
Here you review your strategies, using your SWOT analysis , were there any changes?
Through your KPI’s, measure your performance, is the strategy working?
Take corrective actions.
