HR Strategies for Organisational Growth
Over the years, organisations have come to understand that new technology adoption and cost cutting can increase performance only to an extent.
In the recent times, Human Resource Management (HRM) has become an integral part of every organisation. Assessing manpower needs, managing employees and retaining them, are all part of HRM. Beside these, it also encompasses designing and implementing organisational policies, programs and processes. A Human Resource department nurtures the skills, creativity, knowledge and talent poor performance of an employee and ensures that it is used to the best benefit of the company. However, HRM is not only limited to exploiting the intellectual capacity of an employee. It is also about management of the emotional and the physical capability of the employees.
Over the years, organisations have come to understand that new technology adoption and cost cutting can increase performance only to an extent. In order to go beyond that, an organization largely depends upon its people. HR has always been an important aspect of an organisation but now it has become critical in giving a firm the competitive advantage. Any change in a company would definitely involve its people - changing their thought process and their behaviour. The parameter of change is one of the most important facets of any business and thus, the functions and the processes of HR need to be redefined in the context of that change. Today, HR managers must be a part of the planning of their organisations’ current and future strategies for growth and adopt ways to successfully implement those strategies. They should ensure in striking a balance between individual and organisation goals for the larger objective of the company’s overall growth.
One of the various strategies which can be adopted for organisational growth is moving towards a performance oriented culture. A performance oriented culture involves rewarding and providing incentives to good performance. People in the organisation need to find out that good performance is being rewarded and that is when they would have the motivation to perform their best. However, this does not necessarily mean that bad or rather not that good performance would be necessarily penalised. The basic premise of this initiative is to make a distinction between good and poor performance, and providing employees an opportunity for better career and financial growth.
Another effective practice that can highly impact the growth of a firm is that of having transparent and effective communication. At the beginning of every financial year, a company should lay out clearly defined goals and communicate the same to the employees. Through this, the employees would better understand about the organisation’s objectives and have clear job objectives. .
Coaching can be a very useful tool in contributing to a company’s development. An increasing number of organisations are adopting coaching as a medium of performance enhancement and improvement, development of new skills, and enabling development of leadership and management of career. This practice accelerates the process of setting up and attaining work-related goals thereby facilitating alignment of individual goals with organisational goals.
An HR strategy in terms of talent potential assessment is something that can be immensely beneficial. Potential assessment process can made very objective, and involves identifying and establishing the potential of an employee irrespective of his/her past performance. For any company, future growth is very important and thus, identifying talent that can add value to the future is imperative. Employee potential and performance can be mapped into a possible 9 box performance potential grid, and then clusters can be identified with a performance potential mix. Strategic action points would then need to be earmarked for each cluster with appropriate review and follow up action.
Moreover, in any organisation, the focus should be for individuals to draw up individual development plans. Every individual takes the ownership to develop his or her career and each of them has some inner strengths and goals in life. There has to be a similarity between the individual’s goals and the organisation’s goals. To support these individual goals, the organisation has to take some measures and develop strategies. Helping the employees achieve their respective goals is in the best interest of the company.
One of the other very useful tools, is about having clearly drafted company values. An organisation should have clearly defined values which it should adhere to. If the organisation as a whole is committing to them, the individual would also abide by them and over time promote them. Another important aspect is that having clearly defined organizational values specify the route to be earmarked by employees in course of achieving organizational objectives. It should not happen that one is giving up the firm’s values to focus on the results. Opting for any route to achieve the result is ultimately going to affect the organisation’s objectives.
There is a clear link between good HR strategies and organisational growth and it is in the best interest of firms that they should adopt well fitted HR policies to enhance their competitiveness. A sustained work environment created in sync with the HR department goes a long way for a company’s productivity and growth.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
Around The World