Business Structure Of A New Venture

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

Human Resource (HR) strategic plan’s outline short term goals that have been aligned with their organization’s strategic plans. With the HR’s goals being aligned it also helps the representative know how much man power is needed from the budgeting process done through HR. The HR function of an organization is responsible for ensuring top talent is recruited and retained, which means ensuring success of an organization’s strategic plan.

Furthermore, it is stated that HRM practices can also be categorized on the basis of their emphasis into three sets viz., quality focus, cost reduction, and differential innovation (Guest, 1997). The importance of effective HR practices can be judged by the fact that with the effective execution of HR practices, the employees tend to be more committed to their work and they go the extra mile to add to organization’s benefit.

In order to develop a human resource strategy; there must be a linkage of the entire human resource function with the firm’s business strategy in order to improve business strategy execution. The first recommendation

| Explain how different organisational structures and management roles can impact on the HR Function (AC: 1.3)

Boxall, P and Purcell, J (2011), The Goals of Human Resource Management, Strategy and Human Resource Management, 3rd Edition, Palgrave Macmillan, New York, pp. 1-36.

‘HR strategy, a ‘people plan’, that will help you ensure you have the right people in your business, at the right time with the right skills to ensure you achieve your business goals’.

Human Resources strategy – encompassing a viable course of action that will assist the organization in meeting both their short-term and long-term goals.

Corporations all over the world are focusing on employee wellness. Their focus can be on physical, emotional, financial, career or a combination of these. The strategy behind the focus would be to have employees that are happier and healthier. Employee are more productive and engaged as a result of these benefit being offered.

Good human resource strategies are difficult to achieve, hard to sustain, and expensive. The objective of a human resource strategy is to manage labor and design jobs so people are effectively and efficiently utilized.

An effective human resources (HR) strategy is the complete design, or strategic plan, that directs the engagement of specific HR functional areas. Subsequently, HR strategies will guide decisions about company personnel to make sure they are best suited for the company. For this to be successful, all of the functional areas of HR strategies must be directly compatible with the entire business strategy of the company (Wright, Snell, & Jacobsen, 2003). One such company that has been very successful in developing an HR strategy to support the overall business strategy, is the United Services Automobile Association, or more commonly known as USAA.

The role of entrepreneurship in the economy of a country is to inspire new business ventures that support wealth

Corporations all over the world are focusing on employee wellness. Areas of focus are physical, emotional, financial, career or a combination of them. The strategy behind the focus would be employees that are happier and healthier. Employee are more productive and engaged as a result of these benefits being offered.

An organization can apply any HR Strategy but implementing the strategies and evaluating the result of that strategy is always the final stage. HR Strategy can be implemented by some individual who are made responsible by the organization to achieve the goals. Organization also provides him with the authority and resources. The individual must have to provide the regular progress report.

Human resource strategies are the mechanisms organizations use in considering strategic choices associated with the management of people. These are normally portrayed through the policies and practices selected and implemented through procedures initiated by the human resource department in an organization (Dyer 1984, pg. 157). The mechanisms allow businesses to detect and address issues that relate with people and the business. Strategies employed by organizations cannot entirely monitor the exchanges between workers and the external atmosphere.