Overview: One important HR management tool is strategic planning. Strategic planning is a way for an organization to define the direction it wishes to take and allocate its resources accordingly to pursue that direction. HR strategy includes planning for not only what strategies will be pursued, but also the crucial variable of when they will be pursued. As a result, HR must get input from senior management.
An employer's strategic plan should consider such factors as the changing economy, organizational design, competitive behavior and labor market trends to help it develop a long-term talent management and acquisition strategy. In addition, it should include a strategy for retaining the required workforce.
HR strategy should provide a roadmap for an employer to meet its objectives over the next few years, but also may include longer range goals. Toward that end, it should define the future workforce demographic in the form of a diversity and inclusion roadmap. Some other key factors include:
While strategic planning can take many variables into account, it should at all times be closely aligned with the employer's long-term business objectives. Toward that end, an organizational mission statement may be useful as well.
Author: Peggy Carter-Ward, Head of Content
This checklist may be used to conduct an HR SWOT analysis, during which strengths, weaknesses, opportunities and threats are assessed.
This How To details the steps a prudent employer should take to conduct an HR SWOT analysis.
There has never been a better moment to be in the business of people, said SHRM President and CEO Johnny C. Taylor Jr. in his opening remarks at the organization's national conference in Chicago, noting that the world is entering "what's been called the "Fourth Industrial Revolution."
This How To details the steps an employer should take to align the HR strategy with the organization's business strategy in order to achieve the organization's mission.
This checklist may be used by an employer when seeking to align HR departmental strategy with the business strategy.
This Worked Example illustrates how HR may align HR and business strategies with respect to workforce planning.
Talent management expert Josh Bersin joins us on this podcast to discuss easy analytics 'wins' for employers to help them make better decisions based on data.
This section of the XpertHR best practice manual discusses HR transformation. It considers what HR transformation is and its benefits to the organization. It describes the tools for transforming HR and the methods for implementing a successful HR transformation, as well as how HR transformation can be sustained.