SHRM MANAGEMENET BUSINESS LONG TERM PERSPECTIVE

Hrm alignment with business strategy

1. VIVEKANANDA COLLEGE College with Potential for Excellence Residential & Autonomous – A Gurukula Institute of Life Training, Re-accredited (3rd Cycle) with ‘A’ Grade (CGPA 3.59 out of 4.00) by NAAC DBT Star College Scheme Funded Affiliated to Madurai Kamaraj University Managed by Sri Ramakrishna Tapovanam , Tirupparaitturai , Trichy TIRUVEDAKAM WEST, MADURAI DISTRICT, TAMIL NADU – 625 234. Website: www.vivekanandacollege.ac.in Phone: [phone]`   by: P.ABISHEK B.COM,M.COM,PGDCA

2. Alignment with Business Strategy Long-Term Perspective Talent Acquisition and Retenti Performance Management Employee Engagement

3. Training and Development HR Metrics and Analytics Change Management Diversity and Inclusion Succession Planning and Leadership Development

4. Strategic Human Resource Management (SHRM) – Meaning : Strategic human resource management (SHRM) is a process that organizations use to manage their employees. It is a way to ensure that the organization’s human resources are used in a way that supports the organization’s goals. Think of it as a bridge connecting human resources and the goals of the company. With SHRM, businesses can more effectively manage employee performance and development, as well as create programs and policies that support the company’s overall strategy.

5. Alignment with Business Strategy HR strategies and practices are developed in line with the organization's broader business strategy. HR professionals work closely with top management to understand the company's objectives and design HR initiatives that support those objectives.

6. Long-Term Perspective Strategic HRM emphasizes long-term planning and goal-setting. It goes beyond short-term HR activities and focuses on building a sustainable and competitive advantage through effective people management.

7. Talent Acquisition and Retention Attracting, developing, and retaining top talent is a critical aspect of SHRM. This involves identifying key positions, creating career development programs, and implementing succession planning to ensure the organization has the right people in the right roles.

8. Performance Management SHRM emphasizes performance evaluation and improvement. It involves setting clear performance expectations, providing regular feedback, and linking individual and team performance to organizational goals.

9. Employee Engagement Engaged employees are more likely to contribute their best efforts to the organization. Strategic HRM focuses on creating a positive work environment, fostering employee engagement, and promoting a culture of continuous improvement.

10. Training and Development Strategic HRM emphasizes investing in employee development to enhance their skills, knowledge, and abilities. This can lead to improved job performance, increased job satisfaction, and higher retention rates.

11. HR Metrics and Analytics Strategic HRM relies on data-driven decision-making. HR professionals use metrics and analytics to assess the impact of HR initiatives, identify trends, and make evidence-based decisions.

12. Change Management Strategic HRM plays a vital role in managing organizational change. It involves supporting employees through transitions, developing change management strategies, and ensuring that HR practices adapt to evolving business needs.

13. Diversity and Inclusion Strategic HRM recognizes the value of diversity and inclusion in the workforce. It promotes initiatives to ensure a diverse and inclusive workplace, as diverse teams are known to enhance creativity and problem-solving.

14. Succession Planning and Leadership Development SHRM involves identifying and developing potential leaders within the organization. Succession planning ensures that there is a pipeline of talent ready to take on critical leadership roles in the future .