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When business owners and managers formulate business plans and strategies, they often leave out an important component of these plans. Human resources staff are often not consulted nor invited to participate in the planning process. When marketing, sales, manufacturing or finance are asked to implement their strategies and tactics for the coming year, they may find themselves short-handed, or worse, with people with the wrong aptitudes. Aligning HR with business strategies makes sense and helps ensure the company can realize goals. Function With HR at the planning table, HR can forecast how many people will be needed and with what skills. Significance HR should take the lead in driving change management. Change is a given in today's competitive world, and the company that manages change best will most likely best its competitors. Potential If employees are connected to company strategy and goals and are acknowledged for high performance, the goals are more easily met. Engaged employees are vital to company productivity. Considerations HR has a delicate balancing act to develop compensation strategies that balance company finances with employee expectations. If compensation is too low, employees leave for greener pastures. If it is too high, the company income statement can be adversely affected. HR must be included in product development efforts and ensure the right staff is on hand for this function, even if it means paying a premium in the short term for freelance or contract employees with the right skills and experience for the tasks at hand. Effects HR departments typically track data on the success of recruitment efforts or how many people received what kind of training. But this is not sufficient. The better metrics are those that establish the long-term links of HR to company success. A more important metric might be how well the company does at retaining key personnel, those who contribute most to the bottom line.
Thank you very much all of you for your valuable input in answering this question.
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Zafar Iqbal
HR strategies are all related to development of employees who work & engage with business to produce better performance and results while Business Development strategies are those which focus on expanding the business operation, exploring new markets, developing and retaining suppliers, enhancing company corporate image and have edge in business operations.
HR strategy is a coordinated set of actions aimed at integrating an organization's culture, organization, people and systems in order to achieve the business goals.HR strategy is a vision for the organization. The whole organization must engage with strategy, live it and breathe it. It should be the pillar against which we assess our priorities, our actions and performance.
A business strategy typically is a document that clearly articulates the direction a business will pursue and the steps it will take to achieve its goals. In a standard business plan the business strategy results from goals established to support the stated mission of the business. A typical business strategy is developed in three steps: analysis, integration and implementation.
HR strategy deals with the human resource needs for the organization while Business development strategy more focuses on increasing market share and sales.
aswlkm /hi, Sir
Every HR will be a one of pillar of the Company to find the right person for development of the company.
The fundamental aim of HR Stretegy is to generate stretegic capability by ensuring that the organization has the skilled, commited and well-motivated employees it needs to achieve sustained competitive advantage in the market. Its obective is to provide a sense of direction in an turbulant environment, so that the business needs of the organization, individual and collective needs of its employees, can be met by the development and implementation of coherent and practical HR policies and programes.
On the other hand Business Development Strategies mainly focus on achieving business's mission.
HR Needs+ capbility and abitlity of preson who accept challenges+ capacity of knowlwdge+planning +direction of businessand investment+marketing of product quality+ team work+traget achievement teamwork+results in promotion of organization
Strategy of human resources is to determine the actual requirement of the cadres and workers in the coming years with the development of better and fare worse possibilities that may any emergency happens existence strategy based on the development of the business and must be interconnected on the basis of existing data and human resources that will help develop the business at a pace higher after it has been put the necessary plans and the long time required for the implementation of the strategy to achieve a very high
