Solution
Soumi answered on
Jan 18 2021
Running Head: HUMAN RESOURCE MANAGEMENT 1
HUMAN RESOURCE MANAGEMENT 10
HUMAN RESOURCE MANAGEMENT
Table of Contents
Introduction 3
Various Types of Strategies, choosing one most Suitable for Efficiency-Minded Organization, with Justification and its Effects on HR Performance 3
Four Approaches to Job Design, Example and Significance of Effective Job Design Applications in supporting Organizational Strategic Goals 4
Challenges and Ba
iers in Recruiting Employees, Issues to be addressed 6
Effective Candidate Selection-Process Ideas and Problems to Avoid 7
Conclusion 8
References 9
Introduction
The overall industry space in retail segment is changing faster than ever, which is majorly owing to the changing customer buying behavior and rapid influx of technology in business. Firms need to re-evaluate their business strategies in these changing times and align their business functions with the same. One of the most important components in the upcoming times will be human resources (HR), which results in substantial and non-replicable competitive advantage. Companies need to focus on re-designing their job roles and in turn their recruitment strategies in order to attract, regain and maintain skilled and talented workforce. Effective measures and innovative steps must be developed to encounter challenges and obstructions that lie in the path.
Various Types of Strategies, choosing one most Suitable for Efficiency-Minded Organization, with Justification and its Effects on HR Performance
There exists different types of business strategies suited for organizations based on their industry, geographical markets, objectives, goals, structure, culture, vision and mission. The structuralist strategy revolved around aligning the business operations entirely according to the market of operation and industry scenario. As stated by Prajogo (2016), this was an approach, which was prefe
ed by retail industry players but soon became obsolete due to the rigid nature of the underlying operations. In a cost leadership strategy, firms tend to develop products at a cost less than all the competitors, which is quite prevalent in some product categories of the retail industry but not a long-term strategy. Focused strategies are based on either differentiation or cost leadership but for a relatively smaller section of the addressable market.
Differentiation strategy is best suited for a retail operation based company in today’s scenario because differentiation in products and services is the key to gaining competitive advantage amid the influx of multiple players in the domain. As mentioned by Widuri and Sutanto (2019), the general idea here is to focus on the most sought after and profitable categories for product differentiation and revamp entire operations for enhanced marketing and customer experience. Differentiation can be
ought about by
inging changes according to automated marketing analytics for enhancing customer experience. Another modes can be exposure of the customers to new and engaging content across all identified consumer touch points with a special emphasis on proximity marketing for getting personalized messages and offers to the customers.
With the adaptation of differentiation strategy, the company will require to align its human resources function with the new approach. As mentioned by Rothaermel (2015), for a differentiation strategy to be successful, employees are a way to gain key competitive advantages with employees possessing a certain set of skill set and competencies for the firm’s development. The general strategy is to recruit from a pool of employees possessing a range of skill set and selecting the candidates requiring lesser supervision and hand holding. In addition to this group, interviews and innovativeness tests must be implemented for the desired pool of workforce.
Four Approaches to Job Design, Example and Significance of Effective Job Design Applications in...