Developing the Company Strategic Plan via a HRM Strategic Plan into a Fundamental HR Plan
The HRM strategic planning process begins with strategic analysis. This involves assessing the company’s current situation, its external environment, and its future goals. Once this analysis is complete, the HR department can identify strategic HR issues. These issues are the areas where the HR department can make the biggest impact on the company’s success.
The next step is to prioritize the strategic HR issues. This involves ranking the issues in order of importance. The HR department should focus on the most important issues first.
Once the issues have been prioritized, the HR department can develop strategies for addressing them. These strategies should be specific, measurable, achievable, relevant, and time-bound.
The final step is to draw up the HRM strategic plan. This plan should document the HR department’s goals and objectives, as well as the strategies that will be used to achieve them. The HRM strategic plan should be aligned with the company’s overall strategic plan.
The HRM strategic plan is a living document that should be updated on a regular basis. This will ensure that the HR department is always aligned with the company’s changing needs.
Once the HRM strategic plan is in place, the HR department can develop a fundamental HR plan. This plan will provide more detailed information on how the HR department will achieve its goals and objectives. The fundamental HR plan should include the following elements:
- Workforce planning: This element will identify the company’s future HR needs, and will develop strategies for recruiting, hiring, and retaining the right employees.
- Talent management: This element will focus on developing and retaining the company’s top talent. It will include strategies for performance management, training and development, and succession planning.
- Compensation and benefits: This element will develop strategies for attracting, motivating, and retaining employees. It will include policies for compensation, benefits, and employee recognition.
- Employee relations: This element will focus on creating a positive and productive work environment. It will include policies for employee discipline, grievance handling, and diversity and inclusion.
The fundamental HR plan should be a living document that is updated on a regular basis. This will ensure that the HR department is always aligned with the company’s changing needs.
By developing an HRM strategic plan and a fundamental HR plan, the HR department can ensure that it is well-positioned to support the company’s success. The HR department can help the company attract, retain, and develop the best employees, and can create a positive and productive work environment.