Please boost your Plan to download papers
Strategic Human Resource Management College - Case Study Example
A. A strategic approach to the human resource management helps companies and organizations to meet changing economic conditions and respond effectively to coming changes. The strategic approach increases profitability, lowers turnover, increases product quality, lowers production costs, and increases flexibility and innovation…
It is possible to say that performance management is a central tool used by both companies to meet business objectives and goals. Performance management allows different companies to balance the need to embed processes with the need to be flexible and adaptive to changing circumstances. According to Greer (2000) management often supplements performance management by competency frameworks; appraisal is more frequently conducted through multiple perspectives; rewards decisions are more likely to be decentralized; and formal training is supplemented by coaching and self-development activities. In this case, it is possible to say that the application of performance management is influenced by the degree and experience of change, the involvement and commitment of line managers, and the transparency and perceived fairness of the process (Nkomo et al 2004).
Training and self-development of employees are the key concepts identified in the case studies. All the companies placed great emphasis on training and development, with "most having a number of large-scale training initiatives either in place or being developed, sometimes as part of a broader cultural change program" (Nkomo et al 2004, p. 23). ...