A comprehensive human resource (HR) strategy plays a very important role in an organization, as it strive to achieve its strategic objectives. When planning an organizational strategy, the management normally consider several factors such as assessing the current human capital capacity, which helps the organization to know the number of employees needed to achieve its set objectives. The human capital model supports human resource management and organizational strategies in gaining competitive advantage. Notably, the human capital is very critical in creating and supporting competition in a company. These competencies are achieved through various skills, education, experience, and the potential of workers in an organization ( Albrecht, Grumana and Macey, 2015). By having a competitive advantage, the human resource departnement can successfully achieve its objectives. Sustainable advantage is achieved through the ability of the human capital to form a unique team, which is cost-effective. To create a workforce that will provide competitive advantage, the human resource manager should be able to form a conducive environment that offer knowledge, motivation, and engagement that will be hard for competitors to copy.
Human capital model helps the human resource departnement and organizational strategies in providing bargaining power. This is because human capital is a very unique type of resource which comprises of individuals who have the ability to bargain and hence capture a large portion of value to their organization. Bargaining power is very important in an organization because it is frequently involved in negotiations with clients. Hence by having human capital who are good in negotiating makes an organization stand out among others.
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Human capital model helps in organizational strategies by enhancing creativity and innovation. Organizational survival relies on its ability to rebuild which is achieved through adapting goals to the current circumstances and improving the ways of realizing them. Therefore, for an organizations to survive and continue being successful, the HR should support the creativity and innovation of its employees.
The HR strategies supports organizational goals and objectives by facilitating smooth operation in an organization. The HR managers help in maintaining accurate and inclusive data on every worker, which comprise of employees personal details, their terms and conditions of employment, and the worker performance reports. Data keeping is important because it ensures that the organization meets its objective of providing legal regulations such as National Minimum Wage regulations. Additionally, the HR strategies help in hiring new employees because the HR department is responsible for employing and developing new staff. Acquisition of new workers helps an organization to meet its goals and objectives which is vital in the success of an organization (Delaney and Huselid, 1996)
The HR can ensure CapraTek's organizational success by helping the company to meet its goals. For an organization to have a competitive advantage, it should be able to understand what attracts, develops, retains and motivates workers. Motivation helps the staff to put more effort in their work hence be able to achieve the set goal. Motivational factors are include pay and benefits, health and safety, as well as equal opportunities and fair promotions.
The economic and demographic shifts that affect HR strategies in an organization comprise of both internal and external changing conditions. The internal changing conditions include events, factors, people, systems, and structures that are inside the organization and are controlled by the company. On the other hand, the external changing conditions are factors that occur outside the organization but brings change inside the organization and are far beyond the control of the company. Among these factors are the economy, competition, customers, politics, social conditions and technology.
The internal economic and demographic shifts that affect human resource include leadership. Great leaders are able to inspire and direct. Hence, the type of leadership in an organization can affect a company either positively or negatively. For instance, if a HR manager is corrupt, the organization will not be able to grow. Furthermore, communication among the heads and the members in an organization can have an impact on human resource management. Successful organizations flourish because of great communication behavior, where the staff and the leaders communicate without restrictions. On the other hand, organizations that have communication shortages tend to always have a rigid leadership structure that destroy trust among employees and the employer.
The external economic and demographic shifts that affects human resource management include technology. Many changes occur due to the use of technology such as the use of teleconferencing. Most companies are using this form of technology, which has impacted the HR management in many ways. Most companies use teleconferencing when having meetings and when carrying out interviews. Additionally, the economy of the country can also have an impact on human resources management. For instance, when the economy of a country goes down the company also feels the impact as this will affect its finances.
The human HR recommendations linked to CapraTek's organizational goals and objectives include adapting good communication between the organization and all the stakeholders. For CapraTek to achieve its organizational goals and objectives, the human resource management recommends that the company should uphold free communications between the staff and the leaders. Notably, this is because when people are allowed to express their views freely, they tend to come up with solutions to problems affecting the company.
References
Albrecht, A. B., Gruman, J. A.,& Macey, W. H., (2015). Employee engagement, human resource management practices and competitive advantage: An integrated approach. Journal of Organizational Effectiveness: People and Performance , 2 (1), 7-35.
Bailey, C., Mankin, D., Kelliher, C., & Garavan, T. (2018). Strategic human resource management . Oxford University Press.
Delaney, J. T., & Huselid, M. A. (1996). The impact of human resource management practices on perceptions of organizational performance. Academy of Management journal , 39 (4), 949-969.
Hollenbeck, J. R., & Jamieson, B. B. (2015). Human capital, social capital, and social network analysis: Implications for strategic human resource management. Academy of management perspectives , 29 (3), 370-385.
Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., & Plimmer, G. (2015). Managing employee performance & reward: Concepts, practices, strategies . Cambridge University Press.
