A strategy is a way of doing something. It usually includes the formulation of a goal and a set of active plans for the accomplishment of that goal. Strategy therefore incorporates the aspects of both, planning as well as action.
The term "human resources" refers to the workforce or people that are employed to meet an organizations objective. In modern human resource management practice, it is increasingly being realized that the workforce constitutes a vital and valuable organizational asset. For an organization to achieve corporate success, it is important for it to synergize its business policies and human resource practices. The procedures adopted to achieve this are Strategic Human Resource Management (SHRM) practices.
Strategic human relations management may be defined as a set of decisions a company makes about the humans with whom it does business and the ones through which the business is done. This is a very simple definition of Strategic Human Resource Management. However, SHRM is an issue that is becoming increasingly important and hence increasingly complex.
The approach of Strategic Human Resource Management towards the human resources and the task of conducting business is a strategic one. This means taking a long term view towards Human Resource practices. It means operating Human Resource programs or initiatives with the goal of making a direct contribution towards meeting major corporate long term objectives.
Strategic Human Resource Management aims to an organizations success by helping it align its people management and employee relations strategies with the goals and strategies of the organization.
The concept of Strategic Human Resource Management (SHRM) has developed in the latter half of the 20th century, when organizations started realizing that the Human Resource function was not adding to the value of the organizations. Also, most Human Resource...