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Notes for commerce students, Study notes of Credit and Risk Management

The importance of human resources in achieving strategic goals. It highlights the three main components of any human resource strategy, which are structures, culture, and personnel policies. The document emphasizes the significance of personnel policy in ensuring consistency of action and equity in an organization's relations with employees. It also discusses the interrelation between the quality of personnel and strategic management, and the major policy issues that top executives should be concerned with. The document concludes by stating that successful organizations will be able to attract, motivate, develop, reward, and keep competent employees through appropriate human resource practices.

Typology: Study notes

2021/2022

Available from 11/14/2022

kiran-avni
kiran-avni 🇮🇳

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Human Resource Strategy
Human resources are crucial to the achievement of
stratetic goals. The thrée main components of any
human resource strategy constitute structures,
culture and personnel policies. The basic objective
of personnel policy in an organisation is to ensure
consistency of action and equity in its relations with
employees. Typical conventional personnel and
industrial relations management have integrated
selecton, appraisal reward systems and so on with
emergent business plan of the organisation. Any
weakness in personnel policy may be weaken the
effectiveness of functional policies. Further close
interrelation between the quality of personnel and
strategic management requires top executives to be
concerned with major policy issues bearing on
personnel ;such as Recruitment, promotion,
transfer; | Training & development; | |
Compensation & supplementary benefits;
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Human Resource Strategy

Human resources are crucial to the achievement of stratetic goals. The thrée main components of any human resource strategy constitute structures, culture and personnel policies. The basic objective of personnel policy in an organisation is to ensure consistency of action and equity in its relations with employees. Typical conventional personnel and industrial relations management have integrated selecton, appraisal reward systems and so on with emergent business plan of the organisation. Any weakness in personnel policy may be weaken the effectiveness of functional policies. Further close interrelation between the quality of personnel and strategic management requires top executives to be concerned with major policy issues bearing on personnel ;such as Recruitment, promotion, transfer; | Training & development; | | Compensation & supplementary benefits;

Relations with employee unions and Collective bargaining. In addition to these activities the firms adopting growth strategies go for the human resource development, creating and maintaining harmonious organisational climate, team building, organisational development, empowering the emplioyees, management of diversified cultures and the like. Companies adopting stability strategy do not bring significant changes in human resource management. Companies adopting retrenchment strategies cut the size of human resources, cut the compensation package etc. Human resources, then, are critically important strategic resources. Successful organisations will be able to attract, motivate, develop, reward and keep competent employees through appropriate human resource practices. They will be able to create and implement strategic changes in an atmosphere of close cooperation and participation while trying to