Assignment #1 Hrm 530

1293 Words Oct 3rd, 2012 6 Pages
Mountain Bank
Strategic Human Resource Management – HRM530005VA016-1118-001
Professor
23 October 2011

1. Discuss the strategies that Mountain Bank should implement to achieve a competitive advantage in the marketplace.
Mountain Bank already has the necessary tools to implement a variety of strategic plans. The key will be making the necessary changes and implementing them in order to gain a substantial and competitive advantage in the marketplace. The banks recent internal studies concluded that their best resources are their tellers. Based on this information I would recommend focusing on this echelon of the workforce strategically. As a part of the human resource management (HRM) team I would recommend a duel fold
…show more content…
To include rotating these employees’s in varying positions to minimize employee burnout and stagnation. The responsibility increases would also add to the employee’s feelings of empowerment and job satisfaction. Another important factor I would add would be increased and regular communications throughout the organization. These implemented factors would substantially increase employee loyalty and commitment directly supporting the organizations competitive goals.
3. Discuss the four human resource strategies (internal/cost, external cost, internal/differentiation, and external/differentiation) that may be implemented within an organization.
a. Internal/Cost HR Strategy: This strategy, also commonly called “The Loyal Soldier”, focuses on hiring employees that will fill a wide variety of roles within the organization. The individuals are not necessarily hired for their specific skill sets but more for how they fit within the businesses culture and attitude. The business puts strong emphasis on meeting the needs of the employees which develops a strong bond and loyalty. In return the employees seek to stay with the business for an entire career which adds a large knowledge base that newer employees can draw from.
b. External/Cost HR Strategy: This strategy, also known as the “The Bargain Laborer”, is concerned with hiring employees that do not require substantial wages or training. There
Open Document