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Business Strategy based on Human Resource Management

Today, in a fast moving Dynamic World the markets are constantly evolving. Customers are changing their needs as per the information received by various means. Thus to cater to these needs business should fine tune their strategies and be in the constants loop of learning. A flexible and fluid thought process is the need of the hour which can stir organization through sunshine weather or meltdown conditions.

Taking a clue from the above we as consultants see organization resting on 3 legs of a tripod:
1. The Vision of the promoter of business. The mindset of where to take the organization. He should have a mental road map showing how the organization will reach its Goals.
2. The people should be in place. Proper Communication to the people about the Vision will bring the commitment from them. The people should be able to relate to their personal, professional growth and satisfaction. They should be driven with purpose and feel a belonging with the organization.
3. Financial Strength. Good financial planning is a must for long and sustainable business. A well regulated cash flow with proper business planning is the need of the hour and has to be meticulously looked into.

When all the 3 legs are at one level then the organization sees stability and prosperity.
 business strategy,human resource management
From the HR point of view we have:
1. Human Resource Planning.
2. Laying down the employee need with the Business Plan.
3. Scripting the Job responsibilities.
4. Recruiting and Selecting the Candidate.
5. Monitoring and Evaluating Performance.
6. Providing need gap and motivational Training.
7. Enhancing Employee Relations and Team Building.
8. Maintaining Personal Records.
9. Conducting Exit Interviews.

Management Values and Culture:
There is great emphasis on strategic issues and on the way in which human resources contribute to the achievement of corporate objectives, provided management is ready to listen.

Whatever systems introduced by HR through consensus should be adhered to by management. E.g. Reviewing of activities, having regular group meeting, respecting the individual and reprimanding the work.

The employees have to be taken into confidence and monitored regularly so that there is a climate of harmony established within the organization. Communication plays a significant role bringing about change within the people. Effective communication has been highlighted in high performance organizations.

Finally, culture is concerned with attitude, beliefs, values, assumptions, actions and procedures that people adopt in an organization Life. Creating a conducive culture lies in the hands of the Leader and the HR Manager.
 business strategy,human resource management
Please Note:
In a HR Context, Reward Management is not restricted to rewards and incentives, such as wages or salaries, bonuses, commission and profits sharing, which relate to Extrinsic Motivation. It is also concerned with non-financial rewards that satisfy the employee's psychological needs for job variety, job challenge, achievement, recognition, responsibility, opportunities to acquire skills and career development. These rewards have to be consciously looked into and can be termed as intrinsic motivation.

Thus, with the above points I have strongly advocated that the Business Plan should involve the HR blueprint to take organizations to the second level of performance. Only when organizations start valuing their Human Assets will there be Harmony and Peace at the workplace which will thereby bring in Good Fortune and Good Will.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 14th August 2014.
Dr. Nitin Parab
Dr. Nitin Parab is a contributing writer at Inspiration Unlimited eMagazine

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