There is no universal success recipe for business anymore, what may be succesful at one point of time will not even work out in today’s context. But there are few intangible factors which contribute to the success of the company in a long-term perspective.
HR management is one such vital factor as any company is associated with the people who are working there.
Even companies who have the best talent can fail to achieve success because they cannot work together in an efficient and productive manner. Hence many companies are investing in efficient HR departmental policies, thereby ensuring the productivity of the employees, which in turn helps the companies to expand more.
HR is about learning and a growth perspective which deals with improvement of personnel, professional skills, knowledge, organizational climate, employee satisfaction etc. This in turn helps to implement a balanced scorecard on a departmental level. Something that is good for human resource department is good for the company in general, as it’s about simultaneously ensuring employee and organizational productivity.
This is where Strategic HR can help as they show cause and effect ties between indicators of different categories/perspectives, For example if company decides to focus on employee hire turnover rate, strategic HR along with the help of applicant tracking system will connect these indicators with other measures and goals in a balanced scorecard metric.
When implementing a sound HR Framework it is really important to keep in mind that you are dealing with people and is really difficult to measure certain human resource management things along with numbers.
HR at the end of the day is about ensuring employee productivity and retention, alongside with meeting of the organizational goals.