Now that you understand the significance of SHRM and its importance, you may be curious about how to initiate the process. This involves gaining knowledge of your company’s goals, capabilities, future requirements, and available resources. Subsequently, you will implement your plan and periodically evaluate and adjust if necessary.
The following are the five steps for developing a strategic human resources plan:
1. Familiarize yourself with your company’s goals and capabilities
The initial step in SHRM is comprehending your company’s goals and capabilities. When you have a clear understanding of your company’s goals and can articulate them effectively, it becomes easier to develop programs and policies that align with those goals. Furthermore, measuring the success of your SHRM initiatives and introducing necessary changes becomes more efficient.
Consider the following questions:
– What are the long-term goals of your company?
– What are the strengths and weaknesses of your company?
– What resources does your company currently possess?
– What skills does your workforce currently possess?
– Are there any talent or skill gaps?
By answering these questions, you will gain insights into your company’s goals and capabilities, and understand how SHRM can assist you in achieving those goals.
2. Forecast future requirements
Once you have an understanding of your company’s goals and capabilities, you need to anticipate future requirements. To ensure your company’s future success, it is crucial to forecast the number of employees with the required skills and compare it to your current workforce. This analysis will enable you to identify the skills your company will need in the future and how to nurture those skills within your workforce.
Consider the following questions:
– What skills will your company require in the future?
– How many employees with those skills will you need?
– How does this compare to your current workforce?
By addressing these questions, you will gain a comprehensive understanding of the abilities your company will need in the future and how to cultivate a workforce equipped with the necessary skills.
3. Determine the resources necessary to achieve company goals
After establishing your company’s goals and forecasting future requirements, it is essential to determine the resources needed to accomplish those goals. This includes identifying the financial, human, and physical resources required.
Consider the following questions:
– What financial resources will be necessary to achieve your company’s goals?
– What human resources will be necessary to achieve your company’s goals?
– What physical resources will be necessary to achieve your company’s goals?
To determine these requirements, it is imperative to conduct an audit of both internal and external resources. This assessment will provide you with an understanding of the resources available to accomplish your goals and identify areas where additional resources may be required.
For instance, if you plan to expand your workforce, investing in recruiting programs may be necessary. Alternatively, after conducting a needs assessment, you may discover that your current workforce lacks the skills required to achieve your company’s goals, leading to an investment in training programs.
Similarly, launching a new product would necessitate considering the financial resources required for development and marketing, as well as the physical resources for production. Additionally, the talent and skill set of your workforce need to be considered. Do you have the right individuals in place to bring your product to market, and do they possess the necessary skills?
4. Implement your plan
Once you have established your company’s goals, forecasted future requirements, and identified the necessary resources, it is time to execute your SHRM plan. While most companies begin by recruiting suitable candidates, followed by training and development, and then performance management, the specific sequence may vary depending on your company’s unique needs.
If you already have a substantial pool of talent to choose from, focusing on developing the skills of current employees before recruiting external talent might be more advantageous. Once you have addressed this aspect, you may find that additional hiring is still necessary. In such cases, clearly defining expectations and skill requirements prior to recruitment becomes vital.
After hiring new talent, it is imperative to have a well-structured onboarding process. This ensures that new hires are adequately prepared for success and have a clear understanding of their responsibilities. Following the integration of new talent, the focus shifts to their development, which includes training programs and opportunities for professional growth. By providing these opportunities, you can attract and retain top talent, as well as keep them engaged in their work.
Lastly, performance management plays a crucial role in SHRM. This entails setting clear expectations, providing feedback, and conducting performance reviews. Effective performance management ensures that your workforce meets expectations and contributes to your company’s overall success.
Here are a few things to keep in mind when executing your SHRM plan:
Set realistic goals and timelines. Trying to accomplish too much in a short period of time can be overwhelming and lead to mistakes.
Get buy-in from upper management. If those at the top aren’t on board with your SHRM plan, it’s going to be difficult to get everyone else on board.
Communicate with your employees. Employees should be aware of the goals of the SHRM plan and how it will affect them. This will help get them on board and ensure that they’re working towards the same goals.
Be prepared to adjust your plan. As with any plan, things may not go as expected. Be prepared to make adjustments to ensure that you’re still on track to achieve your company’s goals. We’ll discuss this in detail in the next section.
5. Assess and pivot
After you’ve executed your SHRM plan, it’s important to assess how things are going. This includes looking at what’s working and what’s not. Based on your assessment, you may need to make adjustments to your plan. For example, if you’re not seeing the results you want, you may need to change your recruiting strategy. Or, if you’re finding that your training programs aren’t effective, you may need to make changes to those as well.
It’s also important to keep in mind that your SHRM plan is not a one-time thing. As your company grows and changes, so too will your SHRM needs. As such, it’s important to revisit your SHRM plan on a regular basis to ensure that it’s still relevant and effective.
Follow