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MANAGEMENT
STRATEGIC MANAGEMENT
PERSPECTIVES ON SHRM
BEST PRACTICE
Assumed is that there is a set of best HRM practices that
are universal in the sense that they are best in any
situation
This is questionable
BEST FIT
The best fit approach emphasizes that HR strategies
should be congruent with the context and circumstances
of the organization
Best fit involves vertical integration or alignment between
the organizations business and HR strategies
There are three models: lifecycle, competitive strategy,
and strategic configuration
Often said that best fit is better than best practice but
best fit models can be unrealistic
BUNDLING
Bundling is the development and implementation of
several HR practices together so that they are
interrelated and therefore complement and reinforce
each other
HR STRATEGIES
HR strategies indicate what the organization wants to do
about its human resource management policies and
practices and how they should be integrated with the
business strategy and each other
FORMULATING HR STRATEGY
Two approaches (Wright et al, 2004):
1.
2.
Inside-out
Outside-in
IMPLEMENTING HR STRATEGY
There is no great strategy, only great execution
Lynda Gratton (2000)