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  • Marcus Evens
Aligning HR to Business Strategy in a Knowledge-Based Global Economy
While the term “strategic human resource management (HRM)” may sound like an oxymoron to some, many companies recognize that effective HRM is a key to their competitiveness. It is widely acknowledged and accepted in business that the sources of sustained competitive advantage lie not only in access to finance or capital, but within the organisation, in people and processes capable of delivering business strategies such as customer satisfaction or rapid innovation.
HR as a Strategic Business Partner

Prof Sattar Bawany 

Strategy defines what we are going to do, why we are doing it, and how we will know we are done.
What business will we be in? Who are our customers and what are their needs? How will we reach them? 
 
What products and services will we offer? How will we compete – by low price or by differentiating in other ways? How will we create value for customers, investors, and employees?
 
There are many faces of business strategy, ranging from very formal and explicit planning processes
to informal, implicit, shared understanding of future direction and priorities. Strategy may emphasize
external competitive analysis and positioning or, as is the current emphasis in many companies, the
development and leveraging of internal resources and capabilities to gain and sustain a competitive
advantage. Strategy may be very aggressive, calling for radical business repositioning and transformation, or it may be relatively passive, adapting to changes in the business environment as
they unfold.
 
Most discussions of our strategic partner role focus on human resource implications of business
strategy – aligning people with strategies to enable strategy implementation. We recruit, develop, and
retain required talent. We build organizational capabilities. We communicate performance
expectations and goals, and we provide rewards for results achieved. We adapt human resource
practices to support new business priorities and to facilitate strategic change.
 
Business strategy charts a course of action designed to achieve an advantageous and sustainable market position (market share, margin/profitability, product or technical leadership, etc.). The strategic management process includes strategic analysis, strategy formulation, and strategy implementation.
 
Great human resource strategies are developed within the context of this ongoing strategic management process.

Published On : Tuesday, December 03, 2013