Human Resource Strategy Best Practice (PowerPoint PPTX)

Human Resource Strategy Best Practice

Contents
1. What Is An HR Strategy?
2. How Connected Are HR and Business Strategy?
3. 6 Steps to Craft Your HR Strategy
4. Three Tests of Best HR Strategy
5. Goals and incentives should be aligned with execution of the strategy.
6. Management support any technology it needs to succeed
7. HR Strategy Map and HR KPIs (HR Metrics)
8. Great HR Implementation Principles
9. HR Action plan to Implement HR Strategy Objectives
10. HR Strategy Implementation
11. Building a Capable Organization
12. Strategy-supportive Reward System
13. Strategy-supportive Corporate Culture
14. Strategic Leadership
15. Linking Budget to Strategy
16. Strategy-supportive Policy
17. Continuous Improvement
18. Information Support System

What Is An HR Strategy?
An HR strategy is a document, a plan, or a vision that an HR or People Team puts together to help guide their efforts over an extended period of time. It is meant to align the goals of the HR department with the goals of the business, in order to formulate a plan and concrete set of measures to reach those goals.

How Connected Are HR and Business Strategy?
They are incredibly connected. The internal goals set out in an HR strategy should seek to support the overall business goals. While this can be done directly or indirectly, there needs to be an understanding of how it is happening and how it can help.

Without this, you risk your HR strategy being too isolated from the rest of the business, and from upper management, reducing visibility and long-term efficacy.

How to create a human resources strategy
Follow these steps to create an effective human resources strategy:

1. Understand your organization's objectives
A good human resources strategy is closely linked to organizational goals, so it's important to first understand the business's objectives and mission. Work closely with management or executives to articulate the company's short- and long-term goals for growth.

2. Evaluate your current capabilities
Perform a skills inventory for every employee to determine which individuals are skilled in specific areas. This may help you better understand how your employees can contribute to the company's main objectives. It also helps you recognize your company's strengths, which you can use to craft a more specific and effective HR strategy.

3. Perform a SWOT analysis
After evaluating individual employees, conduct a strengths, weaknesses, opportunities, and threats (SWOT) analysis, which is a strategic planning technique used to identify areas in which ways you can help the company grow. You can use this analysis to leverage your company's strengths in order to capitalize on opportunities in the market. Additionally, by identifying threats and weaknesses, you can come up with a plan to overcome them or minimize their impact.

4. Analyze your capabilities in comparison with SWOT analysis
Evaluate your company's—and, specifically, your team's—ability to help you capitalize on opportunities and effectively manage threats. Identify ways that your company could better prepare employees to serve the goals of the organization.

5. Assess your future HR needs
Next, evaluate what you will need from employees in the future to capitalize on opportunities, minimize threats and achieve company goals. You should be able to determine:

• Which new jobs you will need to fill
• Which skills current employees will need to obtain to fill the new jobs
• Whether you're sufficiently utilizing the abilities of your current employees
• Whether your current HR professionals and the hiring practices they use can accommodate the necessary growth

Regards,
UJ Consulting

This comprehensive guide includes detailed steps for crafting an HR strategy and aligning it with business objectives. It also covers essential HR metrics and implementation principles to ensure effective execution.