How can HR strategy ensure alignment with business strategy?

  

Select a publicly traded company to research and evaluate its Human
Resource (HR) and business strategy, HR department job positions, and
ways it markets its company regarding human capital. Some company
Websites that provide this information are listed below:
Write a two to three (2-3) page paper in which you:
Propose how you would ensure the HR strategy is in alignment with the business strategy.Describe the HR job positions and the responsibilities listed for that HR department.Determine which HR job positions you would prefer and explain why.Analyze how the selected company can establish HRM strategies to improve competitive advantages.Propose three (3) ways that the company can increase diversity.Use at least three (4) quality academic resources in this
assignment. Note: Wikipedia and other Websites do not qualify as
academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with
one-inch margins on all sides; citations and references must follow APA
or school-specific format. Check with your professor for any additional
instructions.Include a cover page containing the title of the assignment, the
students name, the professors name, the course title, and the date.
The cover page and the reference page are not included in the required
assignment page length.
1 of 1
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing
skills, using the following rubric.
Points: 100
Assignment 1: Alignment of HRM and Business Strategies
Unacceptable
Fair
Proficient
Exemplary
Criteria
Below 70% F
1. Propose how you
would ensure the HR
strategy is in alignment
with the business
strategy.
Weight: 20%
2. Describe the HR job
positions and the
responsibilities listed
for that HR department.
Weight: 10%
3. Determine which HR
job positions you would
prefer and explain why.
Weight: 15%
4. Analyze how the
selected company can
establish HRM
strategies to improve
competitive
advantages.
Weight: 20%
5. Propose three (3)
ways that the company
can increase diversity.
Weight: 20%
6. 3 references
Did not submit or
incompletely
proposed how you
would ensure the
HR strategy is in
alignment with the
business strategy.
Did not submit or
incompletely
described the HR
job position and the
responsibilities listed
for that HR
department.
Did not submit or
incompletely
determined which
HR job positions you
would prefer and did
not submit or
incompletely
explained why.
Did not submit or
incompletely
analyzed how the
selected company
can establish HRM
strategies to
improve competitive
advantages.
Did not submit or
incompletely
proposed three (3)
ways that the
company can
increase diversity.
No references
provided
Weight: 5%
7. Clarity, writing
mechanics, and
formatting requirements
More than 6 errors
present
70-79% C
80-89% B
90-100% A
Partially proposed
how you would
ensure the HR
strategy is in
alignment with the
business strategy.
Satisfactorily
proposed how you
would ensure the
HR strategy is in
alignment with the
business strategy.
Thoroughly
proposed how you
would ensure the
HR strategy is in
alignment with the
business strategy.
Partially described
the HR job position
and the
responsibilities
listed for that HR
department.
Satisfactorily
described the HR
job position and the
responsibilities
listed for that HR
department.
Thoroughly
described the HR
job position and the
responsibilities
listed for that HR
department.
Partially determined
which HR job
positions you would
prefer and partially
explained why.
Satisfactorily
determined which
HR job positions
you would prefer
and satisfactorily
explained why.
Thoroughly
determined which
HR job positions
you would prefer
and thoroughly
explained why.
Partially analyzed
how the selected
company can
establish HRM
strategies to
improve competitive
advantages.
Satisfactorily
analyzed how the
selected company
can establish HRM
strategies to
improve competitive
advantages.
Thoroughly
analyzed how the
selected company
can establish HRM
strategies to
improve competitive
advantages.
Partially proposed
three (3) ways that
the company can
increase diversity.
Satisfactorily
proposed three (3)
ways that the
company can
increase diversity.
Thoroughly
proposed three (3)
ways that the
company can
increase diversity.
Does not meet the
required number of
references; some or
all references poor
quality choices.
5-6 errors present
Meets number of
required references;
all references high
quality choices.
Exceeds number of
required references;
all references high
quality choices.
3-4 errors present
0-2 errors present
Weight: 10%
7/7/2016 3:50 PM

Introduction:

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Human Resource Management (HRM) is an integral part of any organization as it involves managing personnel, maintaining compliance with labor laws, and developing policies, among others. Companies benefit significantly by aligning their HR strategies with their business objectives. The HR function is responsible for the recruitment, selection, training, and development of employees, among other responsibilities. This paper aims to analyze the HRM strategies of a publicly traded company and suggest ways to improve its competitive advantage and diversity.

Description:

The paper will focus on a publicly traded company and evaluate its HRM strategies. The analysis will include how the HR strategy aligns with the business strategy, the job positions in the HR department and their responsibilities, preferred HR positions, and how the company can establish HRM strategies to improve its competitive advantage. Additionally, the paper will propose ways the company can increase diversity.

The HR function is essential in any organization as it is responsible for ensuring that the right talent is recruited, trained and retained to drive the business forward. Failure to align HR strategies with business objectives can negatively affect the company’s growth and success. As such, it is critical for any company to have an HRM strategy that is aligned with its overall business strategy. This paper will analyze how the chosen company has aligned its HRM strategy with its business objectives.

The paper will also describe the HR job positions and responsibilities in the company’s HR department. It will determine the preferred HR job positions and explain why such positions are essential. Furthermore, the paper will analyze how the chosen company can establish HRM strategies to improve competitive advantages. This section will suggest strategies that the company can implement to reduce costs, increase productivity, and improve employee engagement and satisfaction.

Lastly, the paper will propose three ways that the company can increase diversity. This section will discuss how the company can leverage diversity to improve innovation and boost customer satisfaction.

Overall, the paper will provide recommendations on how the chosen company can improve its HRM strategies to stay competitive in the current business environment.

Objectives:
– To understand the importance of aligning HR strategy with business strategy
– To identify the HR job positions and responsibilities in a selected company
– To analyze the HRM strategies that can improve the company’s competitive advantages
– To propose ways in which the company can increase diversity

Learning Outcomes:
By the end of this assignment, the learner will be able to:
– Formulate a plan for aligning HR strategy with business goals
– Describe the roles and responsibilities of HR job positions in a real-world setting
– Analyze HRM strategies that can impact the organization’s competitive position
– Propose strategies for promoting diversity in the workplace
– Locate and use academic resources to support the assignment

Heading 1: HR Strategy Alignment with Business Strategy
Objective: To understand the importance of aligning HR strategy with business strategy

Learning Outcome:
By the end of this section, the learner will be able to formulate a plan for aligning HR strategy with business goals

Heading 2: HR Job Positions and Responsibilities
Objectives: To identify the HR job positions and responsibilities in a selected company

Learning Outcome:
By the end of this section, the learner will be able to describe the roles and responsibilities of HR job positions in a real-world setting

Heading 3: Preferred HR Job Positions
Objectives: To determine which HR job positions you would prefer and explain why

Learning Outcome:
By the end of this section, the learner will be able to identify and justify preferred HR job positions in a given company

Heading 4: HRM Strategies for Competitive Advantage
Objective: To analyze HRM strategies that can improve the company’s competitive advantages

Learning Outcome:
By the end of this section, the learner will be able to analyze HRM strategies that impact the organization’s competitive position

Heading 5: Increasing Diversity
Objectives: To propose three ways that the company can increase diversity

Learning Outcome:
By the end of this section, the learner will be able to propose strategies for promoting diversity in the workplace

Heading 6: Academic Resources
Objective: To locate and use academic resources to support the assignment

Learning Outcome:
By the end of this assignment, the learner will be able to identify and use academic resources to support their research and writing.

Solution 1:

Alignment of HRM and Business Strategies for XYZ Corporation

To ensure the alignment of HR strategy with the business strategy of XYZ Corporation, the first step is to understand the objectives and goals of both strategies. HR strategy should be designed in such a way that it helps the company to achieve its business goals. The HR department at XYZ Corporation should work closely with the management to identify and analyze the skills and competencies required to support the business objectives. Moreover, HR policies and procedures should be consistent with the company’s values and mission.

HR Job Positions and their Responsibilities at XYZ Corporation

HR job positions at XYZ Corporation include HR Director, Talent Acquisition Manager, HR Business Partner, HR Generalist, Compensation and Benefits Manager, HRIS Specialist, and Training Manager. The HR Director is responsible for the overall strategic planning of HR policies and procedures. The Talent Acquisition Manager manages the recruitment process, while the HR Business Partner works closely with the management to align HR policies with business objectives. The Compensation and Benefits Manager oversees employee benefits and compensation plans, while the HRIS Specialist manages HR technology solutions. The Training Manager designs and conducts training programs to enhance employee skills.

Preferred HR Job Positions

Among these HR job positions, I prefer the role of HR Business Partner. As an HR Business Partner, I would like to work closely with the management to align HR policies and procedures with business objectives. Moreover, I would like to provide strategic advice to the management on HR-related matters to help them make informed decisions.

Establishment of HRM Strategies at XYZ Corporation

To improve the competitive advantage of XYZ Corporation, the company should focus on implementing HRM practices that enable it to attract and retain talented people. This can be achieved through investment in training and development programs to enhance employee skills and knowledge. Additionally, the company can offer competitive benefit packages to create a desirable workplace culture. Furthermore, the HR department can conduct regular performance reviews to identify employees who require additional training and support.

Increasing Diversity at XYZ Corporation

To increase diversity at XYZ Corporation, the company can implement the following strategies:

1. Developing and implementing diversity and inclusion policies and practices

2. Providing equal opportunities to all employees regardless of their gender, race, ethnicity, or sexual orientation.

3. Creating a positive work environment that values diversity.

4. Encouraging employee feedback to identify areas that require improvement.

References:

1. Cascio, W.F. (2018). Managing Human Resources: Productivity, Quality of Work Life, Profits (10th ed.). McGraw-Hill Education.

2. Noe, R.A. et al. (2018). Fundamentals of Human Resource Management (7th ed.). McGraw-Hill Education.

3. Schuler, R. & Jackson, S. (2019). Strategic Human Resource Management (4th ed.). Wiley.

4. Stone, D.L. (2018). The Psychology of Diversity Resistance and Integration. Routledge.

Solution 2:

Transforming HRM for Sustainable Development at ABC Enterprises

To transform HRM for sustainable development at ABC Enterprises, the company should focus on creating a culture that values sustainability and corporate social responsibility. The HR department can play a key role in promoting sustainable practices within the company. The following strategies can be implemented to achieve this:

1. Embedding sustainability in HR policies and practices

2. Encouraging and supporting employee activism for sustainability

3. Developing training programs that promote sustainable practices

4. Establishing an employee volunteer program that focuses on sustainability

HR Job Positions and their Responsibilities at ABC Enterprises

HR job positions at ABC Enterprises include HR Director, HR Business Partner, Training Manager, Compensation and Benefits Manager, Talent Acquisition Manager, HR Generalist, and HRIS Specialist. The HR Director is responsible for developing HR policies and procedures that support the overall goals of the company. The HR Business Partner works closely with the management to align HR policies with the business objectives. The Training Manager designs and conducts training programs to enhance employee skills. The Compensation and Benefits Manager is responsible for overseeing employee benefits and compensation plans. The Talent Acquisition Manager manages the recruitment process, while the HR Generalist handles a wide range of HR-related tasks. Finally, the HRIS Specialist manages HR technology solutions.

Preferred HR Job Positions

Among these HR job positions, I prefer the role of HR Business Partner. As an HR Business Partner, I would like to work closely with the management to align HR policies and procedures with the company’s sustainability goals. I believe that HR can play a key role in promoting a culture of sustainability and developing training programs that promote sustainable practices.

Establishment of HRM Strategies at ABC Enterprises

To improve the competitive advantage of ABC Enterprises, the company can focus on establishing HRM strategies that promote sustainable practices. This can be achieved by creating incentives for employees who promote sustainability or by developing training programs that focus on sustainability. Additionally, the company can implement policies that reduce waste and support recycling efforts.

Increasing Diversity at ABC Enterprises

To increase diversity at ABC Enterprises, the company can implement the following strategies:

1. Establishing a diversity and inclusion plan that promotes diversity within the workplace.

2. Providing equal opportunities to all employees regardless of their gender, ethnicity, race, or sexual orientation.

3. Encouraging employee feedback to identify areas that require improvement.

4. Offering flexible working arrangements to cater to the diverse needs of all employees.

References:

1. Budhwar, P. S. & Debrah, Y. A. (Eds.). (2013). Human resource management in developing countries. Routledge.

2. Kramar, R., et al. (2019). Human Resource Management in Australia: Strategy, People, Performance (6th ed.). McGraw-Hill Education.

3. Mayrhofer, W., et al. (2016). Handbook of Research on Comparative Human Resource Management (2nd ed.). Edward Elgar Publishing.

4. Shen, J. (2018). Managing Diversity and Inclusion: An International Perspective. Routledge.

Possible Suggested Resources/Books:

1. Human Resource Management: Functions, Applications, and Skill Development by Robert N. Lussier and John R. Hendon
2. Strategic Human Resource Management: An International Perspective edited by Ashly Pinnington, Rob Macklin, and Tom Campbell
3. The HR Scorecard: Linking People, Strategy, and Performance by Brian E. Becker, Mark A. Huselid, and Dave Ulrich
4. Diversity, Equity, and Inclusion: Strategies for Facilitating Conversations on Race edited by Caprice D. Hollins and Ilsa Govan

Possible Similar Asked Questions:

1. What is the importance of aligning the HR strategy with the business strategy?
2. How can HR job positions contribute to achieving business objectives?
3. What are the common challenges in implementing HRM strategies to improve competitive advantages?
4. What are the benefits of having diverse workforce for a company?
5. What are effective ways to increase diversity in the workplace?

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