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Lecture 2

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kaizen4apex
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© © All Rights Reserved
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Human Resource Management

Seventeenth Edition, Global Edition

Lecture 2
Human Resource Policy,
Strategy, and
Performance

Copyright © 2024 Pearson Education Ltd. All Rights Reserved.


Learning Objectives
3.1 Explain how to write an HR policy for the company.
3.2 Describe the basic strategic planning process.
3.3 Define strategic human resource management, and
give an example of strategic human resource management
in practice.
3.4 Give at least five examples of HR metrics.
3.5 Give five examples of what employers can do to have
high-performance systems.

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HR Policies
• Normally found in the employee handbook
• May include:
– Sexual Harassment Policy
– Work Schedules Policy
– Attendance Policy
– Vacation/Sick Leave Policy
– OSHA/Safety Policy

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The Management Planning Process
• Policy-setting should begin with the company’s goals
• Planning process
– Set a Goal
– Make Your Forecasts
– Develop Your Alternatives
– Choose an Alternative
– Implement Your Plan
• The Hierarchy of Goals

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What Is Strategic Planning?
• A strategic plan is the company’s overall plan for how it
will match its internal strengths and weaknesses with its
external opportunities and threats in order to maintain a
competitive position.

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The Strategic Management Process
Figure 3-1 The Strategic Management Process

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Types of Strategies
1. Corporate Strategy
2. Competitive Strategy
3. Functional Strategy

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Corporate Strategy
• Identifies the portfolio of businesses that, in total,
comprise the company and how these businesses relate
to each other.

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Corporate-Level Strategies
1. Concentration
2. Diversification
3. Vertical integration
4. Consolidation
5. Geographic expansion

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Competitive Strategy
• A strategy that identifies how to build and strengthen the
business’s long-term competitive position in the
marketplace, which is also known as
business-level/competitive strategy.

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The Three Standard Competitive
Strategies
1. Cost Leadership
2. Differentiation
3. Focus

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Functional Strategy
• A strategy that identifies the broad activities that each
department will pursue in order to help the business
accomplish its competitive goals.

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What Is Strategic Human Resource
Management?
Strategic human resource management—means
formulating and executing human resource policies and
practices that produce the employee competencies and
behaviors the company needs to achieve its strategic aims.

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Strategic Human Resource Management
Tools
• Strategy map
• The HR scorecard
• Digital dashboards

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HR Metrics, Benchmarking, and Data
Analytics
• Human resource metrics—the quantitative gauge of a
human resource management activity.
• Benchmarking—comparing the practices of high-
performing companies’ results to your own.
• Data Analytics—using statistical and mathematical
analysis to find relationships and make predictions.

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Benchmarking
• Just measuring is rarely enough
• “How are we doing?” in relation to something

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SHRM® Customized Human Capital
Benchmarking Report
Tuition/Education Data
Blank

25th 75th
n Percentile Median Percentile Average
Maximum reimbursement 32 $1,000 $5,000 $7,500 $6,000
allowed for
tuition/education
expenses per year
Percentage of employees 32 1.0% 3.0% 5.0% 4.0%
participating in
tuition/education
reimbursement programs

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Strategy-Based Metrics
• Strategy-based metrics specifically focus on measuring
the activities that contribute to achieving a company’s
strategic aims.

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What Are HR Audits?
• The HR audit generally involves using a checklist to
review the company’s human resource functions.

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Trends Shaping HR: Digital and Social
Media
• Data analytics means using statistical and mathematical
analysis and algorithms to find relationships and make
predictions.
• Big data is basically data analytics with a great amount
of volume, velocity, and variety of data analyzed.
• Talent analytics is data analytics applied to HR issues.

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Science in Talent Management
• Evidence-Based Human Resource Management
– Objectivity
– Experimentation
– Prediction

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High-Performance Work Systems
• A set of human resource management policies and
practices that promote organizational effectiveness.
– Human resource metrics are used to assess
company performance.
– Illustrates what employers must do to have high-
performance work systems.
– Aspires to encourage employee involvement and
self- management.

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Employee Engagement Guide for Managers:
Employee Engagement and Performance

• Employee engagement refers to being psychologically


involved in, connected to, and committed to getting one’s
jobs done.

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The Employee Engagement Problem
• Gallup found:
– about 34% of employees were engaged
– 50% were not engaged
– 16% were actively disengaged

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What Can Managers Do to Improve
Employee Engagement?
• Provide supportive supervision.
• Ensure employees understand how their departments
contribute.
• See how their efforts contribute to achieving the
company’s goal.

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What Can Managers Do to Improve
Employee Engagement?
• Ensure employees get a sense of accomplishment from
working at the firm.
• Ensure employees are highly involved.
• Employers should hold managers responsible for
employee engagement.

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How to Measure Employee Engagement
• Gallup and Willis Towers Watson offer comprehensive
employee engagement survey services.
• Accenture’s three-part “shorthand” method.
• Employee Engagement Guide for Managers.

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