Formulation of Human Resource Strategy

Here we have discussed the process of formulation of human resource strategy. HR strategies plays a significant role in any organisation. The strategy formulation is one of the important role of top level management. HR strategy needs to be formulated with utmost care to get best results out of it. systematic process needs to be followed while formulation of human resource strategy is done.

HR strategy formulation

The process of HR strategy formulation involves a serious of steps. HR strategy plays a crucial role in any organisation. Hence all the steps need to be followed sincerely to come out with a proper practically implementable policy.

Setting of Objectives:

The first step in formulating any policy is to set the objectives of the policy. In case of HR strategies the objectives needs to be set properly by analyzing the
• issues for which the policy is framed,
• Problems to which the policies will be addressed
• The need for the strategy in the business.

Evaluating the environment:

The HR strategies are something which will be applicable to each human resource in the organisation who is employed. Hence it is must to understand the environment of the organisation n terms of Organisation culture, climate, policies etc.

Setting Qualitative targets:

The people involved in the formulation process must also set the desired targets in a qualitative basis. As most of the parameters involved with human component is not measurable quantitatively the achievable targets must be quoted qualitatively.

Considering Alternatives and deriving strategy:

All the available alternative plans strategies will be evaluated before finalizing a strategy. This will enable the team to decide the best possible strategy. Before finalizing the policy the team has to follow certain more steps.

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Resource Planning:

This is the final step before the strategy framing. Here the team will analyze the resources that are required to implement the strategy.

Deriving Action Plan:

Before going for formulation of strategy the team has to decide the action plan. This action plan will led the team know what are the possible problems that may occur when implementing the actual HR strategy in the organisation.

Present to top management:

Once all the things are finalized from the team end then it will present the proposed strategy in front of the top management. The top management will probe in the strategy from all aspects. Any changes, modification in the framed strategy will be communicated to the team by the top management. Then the finalization of strategy will be done.

Communication of the strategy:

At the end the HR department will communicate the finalized strategy to all the employees of the organisation. Proper communication of the strategy is equally important for the success of the implementation of the strategy.