An HR strategy is an organized set of HR methods designed to support high-performance work and promote the company’s vision, mission, values, and objectives. HR may create a strategy for a single job or a collection of jobs in order to address specific needs within each department.
HR strategies aim to drive overall business success by spurring employees to provide high-quality work. In the SHRM’s guide on Human Resource strategy, Patrick M. Wright outlines three crucial elements that an HR strategy should focus on:
- Have something. What skills, competencies, and abilities can employees offer?
- Feel something. What level of commitment, engagement, and motivation do employees demonstrate?
- Do something. How do employees demonstrate productivity?
Why should HR leaders care about HR strategy?
An HR strategy is a roadmap that guides HR professionals toward reaching business objectives while aligning with company values. The strategy enables efficient use of the budget and effective management of HR processes. Implementing an HR strategy that focuses on nurturing community, autonomy, employee-company value alignment, and employee growth can increase retention, engagement, productivity, performance, and profit.
What can HR leaders do to develop an effective HR strategy?
HR leaders can develop a thorough and dynamic HR strategy through:
- Carving out time to plan. Dedicate several focused hours to hone in on pertinent questions, research external factors, and outline the strategy. Documenting essential information and goals during this behind-the-scenes preparation can pave a smoother path for implementing the strategy.
- Creating a checklist. Developing an HR strategy can feel overwhelming– there is a lot of information to include in such a comprehensive document. Breaking the task into smaller categories by drafting a checklist enables HR professionals to develop a well-rounded strategy with the essential components.
- Demonstrating alignment and agility. Aligning the HR strategy with the company’s overall business strategy is critical to achieving successful results. However, with waves of new business trends and tech advancements constantly challenging the world of work, HR professionals must be ready to demonstrate agility. By frequently reevaluating and adapting the game plan, HR can promote fluid productivity within the workforce while continuing to progress in the desired direction.
- Creating a timeline. The timeline should identify goals that HR leaders aim to reach throughout the year and in the long run. Routinely reassessing milestones can help HR professionals stay on track while allowing them to adjust for roadblocks.
- Sharing the plan with relevant stakeholders. The HR strategy should mesh with executives’ goals. Attractively presenting the HR strategy to executives can promote critical support from the relevant stakeholders.
Recommended For Further Reading
How can a comprehensive HR strategy improve company culture?
HR strategies are the bedrock for successful HR processes, enabling organizations to function seamlessly and prepare for potential disruption. Intentionally planning recruitment, hiring, and training and development practices to elevate the employee experience can ultimately nurture a healthy company culture of satisfied employees.