HR Strategy In Hypercompetitive Business (Document Bundle)

HR Strategy is the strategy adopted by an organization, which aims at integrating an organization's culture, its employees, and system by coordinating a set of actions to get the required business goals.

nother way to say this might go something like: HR strategy is all about creating alignment around an organization's people, processes, and operating philosophies. It's a way to position strategic human resources management as the catalyst for amplifying broader business or organizational goals. The ability for organizations to define and achieve their objectives, therefore, becomes tied directly to the internal HR strategies enabling them to take shape.

From a more practical, hands-on perspective, however, HR strategy is a "long-term plan that dictates HR practices through an organization," including recruiting, hiring, onboarding, performance management, learning and development, compensation, succession planning, etc.

This positions HR strategy as a lever through which organizations can effectively rally their employees, including senior leadership, around a unified, forward-looking vision. And while it may seem like this more operational aspect of HR strategy is mostly tactical in nature, its implications on an organization's long-term success and even culture extend far beyond that.

While there isn't necessarily a "right" or a "wrong" way to build a successful HR strategy, there are certainly some best practices to follow. This is especially the case if your goal is to build an HR strategy that goes well beyond the ?tactical' to transform your organization—and its people—from the inside out. And because business-level strategies often ebb and flow alongside the world's various social, political, economic, and cultural tectonic shifts, how organizations approach HR strategy today may be very different than how they had approached it even a year or two ago.

A business strategy dictates how a business will achieve its goals and grow in both the near- and long-term. An HR strategy complements this by creating the internal infrastructure that can effectively activate its people and processes to reach those goals.

It goes without saying that building an HR strategy cannot be done in a vacuum. In fact, it must cascade down from an organization's broader business strategy and, more importantly, position an organization's employees as the glue that connects HR strategy to business strategy.