Strategic Action Plan for Combating the Challanges of HRM_V1.1

HRM challenges and strategies to mitigate them

Human Resource Management

Sai Prasad Group Of Companies

I believe in the adage: Hire people smarter than you and get out of their way

Howard Schultze, CEO of coffee chain Starbucks (1994)

Agenda

What is Human Resource Management?

Questions

Key Challenges in the HRM Life Cycle

Cases

The Human Resource Life Cycle – Hire to Retire

Mitigation Strategies

Summary

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Human resource management (HRM, or simply HR) is the management of an

organization's workforce, or human resources. It is responsible for the attraction,

selection, training, assessment, and rewarding of employees, while also

overseeing organizational leadership and culture, and ensuring compliance with

employment and labor laws. - From Wikipedia

Simply put, Human Resource Management (HRM) is a management function

that helps managers recruit, select, train and develop employees for an

organization. – K Aswathappa (Management Guru)

Take our 20 best people away, and I will tell you that Microsoft would become an unimportant

company

Bill Gates, CEO of Microsoft in Fortune, November 25th, 1996

Agenda


The Human Resource Life Cycle – Hire to Retire✓

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HRM

Recruitment

Hiring

Training

Appraisal

Succession Planning

Retirement

True motivation comes from achievement, personal development, job satisfaction, and

recognition

Frederick Herzberg 1923-2000, US psychologist

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Key Challenges in the HRM Life Cycle (1 of 2)


Recruitment Attracting & Retaining Talent Profile Match Demand & Supply Gap

Hiring Make or Buy decision making Workplace Diversity

Training What’s in it for me? I know my job- attitude Lack of Management Focus

Key Challenges in the HRM Life Cycle (2 of 2)


Appraisal KRA’s not aligned with business needs Employees not aware of the appraisal process

Succession Planning Reactive and ad-hoc

Retirement Knowledge retention from senior employees

If an institution wants to be adaptive, it has to let go of some control and trust that people will

work on the right things in the right way

Robert B. Shapiro, CEO of chemical company Monsanto in Harvard Business Review, Jan-Feb 1997

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Mitigation Strategies (1 of 2)


Recruitment

Job clarity Mutual discussion & counselling Establishing priorities of the firm Career development plan along with professional

competency

Hiring

Focus on technical skills at entry level Focus on conceptual skills at middle & senior level Develop systems & procedures for employee adaptability in

cross-cultural environment

Training

Management of change Cost-Benefit analysis based on learning inputs given to

participants

Mitigation Strategies (2 of 2)


Appraisal Effective PMS strategy & its implementation Focus on KRA strategy & its achievements

Succession Planning Proper planning & execution of succession plans for each

department

Retirement Effective Manpower plans

If an institution wants to be adaptive, it has to let go of some control and trust that people will

work on the right things in the right way

Robert B. Shapiro, CEO of chemical company Monsanto in Harvard Business Review, Jan-Feb 1997

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Case B

Always recognize that human individuals are ends, and do not use them as means to your end

Immanuel Kant 1724-1804, German philosopher

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While HR challenges are greater than ever before, so too are the opportunities for companies to excel through people strategies

The HR function must be able to measure, count, and calculate the effectiveness of both its internal operations and the company’s overall people strategies. One of the reasons that HR ranks lower on the corporate ladder today than the finance department is that HR managers often cannot quantify their successes.

People can make a difference when they dare to believe in creating advantage for themselves, their communities, and their future.

The soft stuff is always harder than the hard stuff

Roger Enrico, Vice Chairman of PepsiCo, referring to areas like HRM as opposed to quantitative factors

in Fortune, November 27th, 1995

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Questions ???


THANK YOU!


Documents

Strategic Action Plan for Combating the Challanges of HRM_V1.1