HR business strategy - MP&O

Before sharing some tips, I would like to explain the definition of HR strategic planning and why it is important to create? HR strategic planning is a process that identifies current and future human resources needs for an organization to achieve its goals. As well as the analysis of the external labour market and the future HR environment that the organization will be operating in.

Why it is important to create?

The HR strategic plan provides ideas to allocate the resources and design the foundation of an organization to achieve their goals. It is also the basic foundation for the HR department to make plans and do their jobs.

What are the types of HR strategy?

We can identify the strategy into two basic plans, overarching strategy and specific strategies relating to the different aspects of HRM. For the specific strategies, we can identify many strategies such as investment in corporate social investment, competitive salary and benefit package, continuous training, and the development and so on.

When should a HR strategic plan be made?

A HR strategic plan should be made before the organization started and should be done when the organization is just getting started for overarching strategy. For the specific strategies, you should make a specific analyzation of your organization before creating the specific strategy.  The time frame will base on the size of your organization.

Who should create the HR strategic plan?

The leader of the HR department who can be HR manager, the CEO, COO, or other similar senior position. It is essential that the person who designs the strategy explains the purpose to the relevant members of the company.

What are the key ingredients of the HR strategic plan?

Vision and mission statement, organization goals, frame timeline, the action plan, and a detail on how often this strategic plan will be reviewed and updated. Forecasting labour demand, analyzing present labour supply, and balancing projected labour demand and supply should also be included.

In the conclusion, consider your organization present capabilities and identify your HR future needs then find the gaps between those and create and plan and also share and monitor the plan.

Hsu Yee Lin

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