An Organization 's Strategic Planning

1323 Words Sep 10th, 2015 6 Pages
Strategic HRM Dynamic change in the business environment, technology advances, and increased worldwide competition have dramatically changed the role of human resources (HR). Recruiting and retaining talent has become a key initiative as human capital and knowledge have become recognized as an organization’s top asset and avenue for creating a competitive advantage. More than ever before, chief executives officers (CEOs) and other organizational leaders are relying on HR to play an integral role in the strategic planning process. For this reason, successful HR professionals must have a thorough understanding of all stages of the strategic planning process, engage and contribute at every opportunity, ensure that HR strategic planning is in alignment, and have a strong understanding of the factors impacting workforce motivation.
Defining Strategic Planning The fate of an organization rests on its ability to create, implement, and execute a successful strategic plan. In many cases, due to the dynamic business environment, an organization’s strategic plan must become a “living” document that is regularly examined and updated. Reed and Bogardus (2012) emphasized that the prevalence of marketplace and internal organizational changes now require constant plan revision and confirmation of viability. At the same time, the strategic plan is still the organization’s long-term objective, including how it will create a competitive advantage by utilizing internal strengths to…
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