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Enrolling in an MBA program is a life changing decision. An MBA in HR and Strategic Management remains one of the most popular courses for executives. There are so many interesting subjects and case studies related to organizational development, managerial communication, and employee communication management in HR MBA.
In this article, we have specifically focused on popular HR management strategies that would help an executive MBA or an EMBA professional to advance in the field of Strategic HR with a very strong competitive edge.
But first, let’s quickly define what is an HR strategy.
The most common popular definition of HR strategy is derived from The Art of War, by Sun Tzu. Every business plan needs to be evaluated based on historical experiences, current strengths, and weaknesses, and future opportunities and threats. In HR strategy management, it all boils down to leadership, control, and authority and how good employees, like soldiers on a battlefield, are motivated and inspired to give their best for the most desirable outcome — WIN at all cost, and at best, with minimal damage or fatality. Now, in organizational setup, Strategic HR management could be understood using principles. Let’s dive into these principles.
# 1 Warwick Model
The pandemic has completely changed the way organizations function at various levels. There is a strong demand for a collaborative and empathic HR management planning to plan, organize, lead and train employees to generate profitable results at a sustainable rate. In most companies, HR teams follow the highly reliable Warwick model of HRM to strategize their HR management plans and to develop an organizational culture that is both effective in meeting goals and transforming with time. The HRM Warwick model can help you build a strong corporate brand or image if you are able to clearly distinguish between the external forces and internal forces in the organization. These are called CONTEXT AND CONTENT in the model.
Now, there are many different ways of achieving these goals. In order to understand how Warwick Model in HR management strategies work, it is important to have a clear conceptual knowledge of the five stages of Strategic Management. With an EMBA guide and training, you would be able to associate with the Warwick HR model and how it links to traditional and contemporary thoughts and HCM approaches.
#2 The HARVARD MODEL of HRM
The HARVARD framework used in Strategic HR management is an outcome of work done by Harvard researchers in the mid-1980s. The framework is referred to as a five box matrix that highlights the cyclical relationship between the Stakeholders’ interests, HR Management policies, and their Outcomes. These policies and their outcomes are continuously studied, analyzed, and improved based on the situational factors or environmental factors. The four components drive what we call Organizational results, the fifth component of the framework.
If you are working in a big organization, you are likely to design any recruitment and hiring plans around your strategic HR goals using the HARVARD framework.
# 3 Gallup Model of Employee Engagement
We all know that an engaged employee is far more productive and resourceful than a disengaged employee. In fact, managers at our top levels think very highly of employee engagement as a means to improve planning, and acting on strategic goals with streamlined efforts.
The degree of engagement at the workplace highlights the level of dissatisfaction at the workplace. When the areas of dissatisfaction are not addressed in time, it can negatively impact the workplace dynamics, creating conflicts between managers and team members and finally, a breakdown of organizational structure. EMBA projects that focus on the employee engagement side of the business are found to be very useful in attracting hiring managers during the placement seasons. HR Managers that are aware of Gallup’s employee engagement model are particularly favored over others due to simple reasons. Gallup’s HR model is relied upon by Fortune 500 companies! According to Gallup, the workforce can be categorized based on the level of engagement of employees.
For instance, an actively engaged employee would be loyal and productive, whereas disengaged or passively engaged employees would have a cost to the company with average performances. Actively disengaged employees are not preferred by the company and these are often terminated due to performance issues. Now, why Gallup’s study is important? It helps Strategic HR management practitioners to work with existing Human Capital Management teams, line managers, and trainers to identify what workplace and behavioral factors attribute to higher levels of engagement, and which cause dissatisfaction.
The most exciting part about having an MBA in HR is the project and industrial training part where EMBA students are required to choose from a wide variety of frameworks and principles to display their understanding of how HR management strategies actually work in real-world scenarios in proper corporate setups.