The role of human resource management evolved in the last two decades. In the current context, HR managers are focussing on recruiting and managing the workforce in order to meet the strategic goals of the organisation. It has a key role in fulfilling the visions and mission of the company. Companies work and reach goals through their workforce. Hence, HRM has a relevant role as it provides the most competent employees to the organisation which further the objective of the company. Thus, there is an energies trends that combine the theories of HRM with strategic management. This is known as Strategic Human Resource Management (SHRM).
It consists of decisions and actions that result in the formulation and implementation of strategies specially designed to achieve the goals of the organisation. Strategy is defined as a unified comprehensive and integrated plan designed to ensure that the basic objective of the enterprise is achieved.
Strategies can be formulated at the top level which is known as corporate-level strategy. Strategies made for attaining specific goals are called business-level strategies. When the business-level strategies are furthered to functional departments like HR, marketing and R &D, they are known as functional strategies.
Corporate strategy for human resource management facilitates the creation of a competitive advantage for the firm over its competitors. This is done by building employee competence. SHRM thus means applying strategies human resource practices.
Scope of SHRM:
- SHRM is the link between the goals, objectives, strategies of the organisation and its human resource. It is at improving business performance by developing a good organisational culture. It also furthers competitive advantage, innovation and flexibility in the organisation.
- It aims at focussing on the ways how the human resources of the organisation can directly impact the growth of the company. HR managers adopt strategies to develop and retain their workforce in order to meet the objectives of the organisation.
- Organisation frames a strategic plan and quantifiable strategic aims or goals. These plans and aims suggest certain staff requirements. These are in terms of the worker skills and behaviours required to attain the company's strategic goal.
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