In every organization, very vital stakeholder is its Human Resources. Organizations consider their employees as very essential asset they possess. Many large business houses and corporates have a pool of very talented individuals and they care for their most important Human assets. Human resources management (HRM) is a vital activity in every organization. HRM systems in an organization exhibit the organizational capabilities that equip firms to learn and capitalize on new opportunities. But strategies have to be adopted to make HRM process to be more effective.
Strategic HRM provides a base to achieve overall organizational effectiveness. The distinct strategic HR practices develop core competencies in employees and facilitate the organization to be more competitive in its business. The strategies adopted by the HR manager helps in combining intelligence, skills and expertise of "Human Capital" (employees) to create an exclusive status to the organization. Suitable strategies are adopted to facilitate the employees to develop firm-specific knowledge and skill. The strategies are developed to create, acquire. capture, share and use knowledge of employees to provide an innovative thrust for the organizational growth and sustainability.
Reward management (to motivate and enhance the job engagment and commitment of employees which create value for them), harmonious relationship and meeting diverse needs of employees can be achieved by developing suitable strategies.
Strategic HRM, thus, covers the issues such as planning and implementing strategic HR policies, HR policies, HR strategies to increase firm performance, investment in training and develoment, investment practice for improved retention, job security, managing strategic organization, establishing strategic plans, strategies to manage employees in global organization and various other issues related to HRM.
This title "Strategic HRM" is an introductory work, which deals in aforesaid basic aspects of HRM and strategies to be designed and implemented to achieve organizational effectiveness. Many universities, including Bangalore University have introduced Strategic HRM as a specialized suject of study under BBM course.
Unit 1. Introduction To Strategic HRM
Unit 2. Investment Perspectives of HR
Unit 3. Managing Strategic Organisation
Unit 4. Establishing Strategic Plans
Unit 5. Global HRM