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Strategic alignment these terms are some of the phrases which are being used to explain the latest, evolving function of human resources process. The aligning human resource processes with business strategy about the growth of the business, increasing the performance of the employees and keeping the costs under a control. Which means the employee satisfaction and benefits provide to the population as they are not the strategic goals, but they are tools to reach the goals important for the whole organization. The importance of the alignment of the HR process with the business strategy is about going deeper and finding the real root components of the successful human capital management in the organization. The HR Managers have to identify the real goals of the business, the business way how to reach the goals and the real needs of the business from Human Resources. Dainty (2000) the HR tends to take care of employees, but it is not what the business asks for usually. The HR process alignment with the business strategy needs many discussions inside Human Resources about the real goals of the organization and how the organization will utilize its human capital to reach the goals. It is not about the employee satisfaction, it is a side effect. They have to understand, how the business wants to reach the goals and then the HR process can be developed and fully aligned with the business strategy. The aligned HR process misses the nice words about the retention, the employee satisfaction and other nice HR initiatives. These are the tools; the real business goals are different. These few points which are important in jumpstarting the organisations revenue and profit growth if well utilized:
Develop a workforce that can perform higher-grade assignments.
Increase efficiency, effectiveness and standards of performance by the employee
Keep the employees informed
Provide the usual training of new recruited workforce
Business strategy remains important in ensuring that a business performs well. It is important that human resources process is carried out in a proper manner the human resource has a function of delivering strategy insights in the organisation so as to enable the organisation to be more effective in sourcing, evaluating and motivating employees in this increasingly unstable business environment. J. D & Wheelen (2003) the human resource has to continue providing administrative services which are dependable, responsive and cost effective to the needs of the organization. Starbucks and Humana companies have been able to be successful because of their good human resources management practices. It is clear that, for any company to be able to achieve, its market goals, it has to have correct human resources management. However, aligning the human resources does not guarantee 100% success towards achieving the market objective of a company.
2. Discuss how the firm used benchmarking to determine the performance standards for leadership, client-facing and specialty/support functions?
Leaders in different organisations and contexts do not look the same, but they share many characteristics. The challenge for businesses is to understand both what they have and what they need in order to secure their future. Druker, J (1995), the Support Function will be an integral part of this practice which helps service-based businesses achieves significant, rapid, and sustainable improvements in customer satisfaction, cost, and revenue performance. These strategies bring our clients competitive advantage and significant, measurable, bottom-line impact. Benchmarking leadership and clients facing talent must take account of the values and strategic intent of the organisation. Leadership and client facing assessment can be applied at all levels in the organisation, from the identification of high potential leaders to an intervention with a senior team to examine their effectiveness and help them to raise their performance. The benchmarking for leadership, client facing, specialty/support functions may be driven by:
Mergers and acquisitions
Changes of ownership
Changes to adapt to new technologies or markets
Building leadership bench strength and a leadership pipeline
Appointments to senior leadership positions
Building high performance teams
Self-confidence is more trustworthy than the statistical data.
Develop approaches and methods for optimizing business support functions in strategic and administrative area
Prepare project proposals and client discussions, assist with project planning, organize client workshops/meetings/conferences
Participate in internal knowledge building/management
Strategic and creative thinkers who are exceptionally adept with quantitative analysis and business case work
Passionate about and committed to operations and technical excellence
Proven leaders with the ability to inspire others, build strong relationships, and create a true followership
Results-driven achievers who are able to grasp and communicate complex ideas clearly
Collaborative team players, capable of working well with others but also autonomously with little direction
Demonstrated broad business perspective
3. Identify and explain three objectives of the talent management system including one from each category of operations, customer, and financial objectives?
Objective of talent management system is to optimizing the performance of each employee and the organization. However within many companies the concept of human capital management has just begun to develop. In fact only few of the organizations have a clear talent management strategy and operational programs in place today. It is very important to develop a clear talent management strategy and to increase awareness of available talent and successors, all organizations should conduct regular talent review meetings to be prepared for a variety of business changes, such as mergers, company growth, or a decrease in talent needs. In the same way that all companies have regular meetings and reports regarding their financial status and budgetary needs, the talent review meeting is designed to review the current talent status and future successor needs in the organization. Grant R.M. (2005) the talent review meeting is an important part of the overall talent management process; it is designed to review the performance and career potential of employees, to discuss possible vacancy risks of current employees, to identify successors and top talent in the organization, and to create development action plans to prepare employees for future roles in the organization. This is what talent management is all about gathering information about talent, analyzing their career interests and organizational business needs, identifying top talent and successes, and developing these individuals to reduce the risk of losing the best people and experiencing extensive leadership gaps when turnover occurs. Main objective of Talent Management System will assist organization in developing, managing, rewarding and optimizing organizational talent to increase workforce productivity and maximize operating performance.
4. Discuss how the company would measure each objective.
Company would measure any objective through Balanced Scorecard. This is a management system that maps an organization's strategic objectives into performance metrics in four perspectives: financial, internal processes, customers, and learning and growth. These perspectives provide relevant feedback as to how well the strategic plan is executing so that adjustments can be made as necessary. The term scorecard signifies quantified performance measures and balanced signifies that the system is balanced between:
short-term objectives and long-term objectives
financial measures and non-financial measures
lagging indicators and leading indicators
internal performance and external performance perspectives
The financial perspective addresses the question of how shareholders view the firm and which financial goals are desired from the shareholder's perspective. The specific goals depend on the company's stage in the business life cycle. Hunger (2003) the customer perspective addresses the question of how the firm is viewed by its customers and how well the firm is serving its targeted customers in order to meet the financial objectives. Generally, customers view the firm in terms of time, quality, performance, and cost. Most customer objectives fall into one of those four categories. Operation objectives address the question of which processes are most critical for satisfying customers and shareholders. These are the processes in which the firm must concentrate its efforts to excel.
5. Discuss how the changes made to Porter Novelli's talent management system impact organizational performance.
Carter, L. & Goldsmith, M. (2010) changes made to Porter Novelli's talent management system impact organizational performance to meet the needs of today's organizations, this handbook is filled with practical advice on how to implement employee and customer-centered programs that emphasize consensus building; self, group, organizational, and one-on-one awareness and effective communication; clear connections to overall business objectives; and quantifiable business results. With lessons from companies that are widely recognized as among the best in organization change and leadership development, for succeeding during challenging times. As best practice organizational champions, these companies share many similar attributes including openness to learning and collaboration, humility, innovation and creativity, integrity, a high regard for people's needs and perspectives, and a passion for change. And all these outstanding organizations have invested in human capital the most important asset inside of organizations today. Porter Novelli's talent management system offers lessons from the world's best organizations in various industries and sizes, and shows how to identify the key elements of leading successful, results-driven talent management; access the tools, models, instruments, and strategies for leading talent management; apply practical how-to approaches to diagnosing, assessing, designing, implementing, coaching, following-up on, and evaluating talent management; and measure critical success factors and critical failure factors of a program. No matter what the size or mission of the organization for diagnosing, assessing, designing, implementing, coaching, and evaluating a winning team of talent.