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Importance of Employee Retention for the Business Success

Employee retention is important to all businesses for a variety of reasons. A high staff turnover rate not only results in a loss of skills and a waste of already spent training time, but it also suggests that something is wrong within a company that needs to be addressed. Read More>>>

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Strategic Human Resource Management (SHRM): Features | Advantages

There is a lot of talk about Strategic Human Resource Management these days in Human Resource Management circles, and many pricey books can be found on bookstore shelves. But what is SHRM (Strategic Human Resource Development), what are its major characteristics, and how does it vary from typical HR management?

Strategic human resource management, or SHRM, is a sub-discipline of human resource management, or HRM. It's a relatively recent discipline that arose from the parent discipline of human resource management. Much of the early or so called traditional HRM literature treated strategy as a purely operational issue with consequences that cascaded down across the organisation. There was an unspoken boundary between HR's people-centred ideals and the tougher economic values that belonged to corporate strategies. HR professionals felt uneasy in the war cabinet-like environment where company strategies were developed.

Definition of SHRM

The integration of human resources with strategic goals and objectives in order to improve business performance and establish an organisational culture that fosters innovation, adaptability, and competitive advantage is known as strategic human resource management. Accepting and engaging HR as a strategic partner in the creation and implementation of company strategies through HR activities such as hiring, selecting, training, and rewarding employees is what SHRM has to say in the organization.

Strategic human resource management is, in essence, a more focused approach to people management. It is a proactive management paradigm that defines the functions of Human Resource Management (HRM) so that they are specific to the firm where they are implemented. All of this works together to assist the firm by establishing a framework that allows it to achieve its objectives through optimised human resource procedures - the people behind the brand. Read More>>>