Lecture notes: Human resource and strategy  Get the right people with the right direction towards strategic direction of the company  But if you have no choice, choose the closer candidate that you can work less to shift them toward your strategic direction  If there is a change in strategy, the employees need to be notified of the change plan and the new strategy Strategy and Talent  Asian: high context culture ie polite, relationship, correlation, great amount of respect for process, save face  Western: low context culture, no relationship, individualism,  Talent: the right candidate that the company wants (especially if they are aligned with the company strategy) Human Resource Management, what can HR do  Monetary Value like money, commission, office, leaves-time (time is money), things  Emotional Value like being happy at work, loyalty, being valued, title only How can a company attract and retain the talent employee: Remuneration (number/monetary value)  Direct pay (monetary)→ salary, wages/hourly rate pay,  Indirect pay (non-monetary) → benefits, Diversity  The more influence the outer community has on the individual, the high the context is  Low context (Western) Norway, →Body language: less →Relationship: defined →Cultural Value: literally →Communication: frank, direct →Time; specific →Others  High context (Asian) Greece, Spain, Portugal, Italy →Body language: a lot →Relationship: vital, connection means everything, relationship is extended →Cultural Value →Communication: indirect, →Time: →Others Useful Videos for Assignment 1: HR, Strategy, Talent and Company Success HR and Strategy https://www.youtube.com/watch?v=jWdovBCWTF0 HR and Talent Management https://www.youtube.com/watch?v=d806M_U-XSA Examples of Success Stories in HR and Strategy (Arla Foods) https://www.youtube.com/watch?v=NMYgu_DI0k8 Staff Satisfaction Surveys and using HRMIS Software: Elior Group Example https://www.youtube.com/watch?v=MG4DphKQaHw Tips for Good HR Practice https://www.youtube.com/watch?v=WZfbrupIXV4 Useful readings: http://www.londoninternational.ac.uk/sites/default/files/programme_resource s/lse/lse_pdf/subject_guides/mn3075_ch1-4.pdf http://www.researchersworld.com/vol4/vol4_issue1_1/Paper_09.pdf https://pdfs.semanticscholar.org/7324/53afec2b58190a2599c329a5c7ac90954 58d.pdf https://www.jbs.cam.ac.uk/fileadmin/user_upload/research/workingpapers/w p0803.pdf https://www.pwc.com/us/en/people-management/assets/key- principles- organization-design.pdf TMGT401 Assignment 1 Case Study Example Background to the organisation Thank You Water (TYW) is a company that was established in Sydney in 2013. The firm started with three (3) partners who were friends wanting to make a difference to the lives of poor people around the world by providing clean drinking water (Smith, 2015). The company started off with $500 in cash and nothing more than a simple idea (TYW, 2013). Today, the firm has 50 employees and turns over $4.9m annually. From a Human Resources (HR) perspective, TYW is a unique company. Initially, it did not pay its staff as it did not have the finances to do so. This meant that the first employees to join did this as a form of belief in the company, its mission and its strategy. Today, every one of those employees remains with TYW and the firm has added 45 new employees over the last 3 years. This paper reviews the HR strategy at TYW and links it with the recruitment of talented and dedicated staff. “Talent” in this case is not just technical talent, but a desire to make a difference in the world for the better. The TYW strategy continues to be to hire staff who believe in the firm and its mission. In the paper, we will analyse: 1. The role of TYW’s strategy on its HR practices 2. What type of employees and HR strategies align to make TYW successful 3. Recommendations for further enhancing TYW’s HR strategy Importance of human resources as part of its strategy The strategy of TYW depends, to a large extent, on the talent management of TYW staff. Given that the mission of TYW is one that needs patience, resilience and committed staff. It is vital that TYW employees align to the firm’s strategy. Peter and Smith (2015) cited strategy as a vital element of company success. They identified HR and the alignment of the HR and operational strategies as major success factors for firms. Further research by Lolita and Galu (2016) shows that the best performing firms align the HR strategy with the wider business strategy by enabling HR to participate in strategy formulation. In applying this to TYW, it is evident that TYW staff need to: 1. Understand the TYW business strategy 2. Be given a chance to participate that strategy 3. Be managed not as employees, but as “talent”. According to Jane and Fifo (2016) the role of the HR manager is even more important in entrepreneurial firms. TYW is, indeed, one such firm (Kale, 2016). Relationship between HRM and strategic success According to Smith and Lolath (2015), the strategic direction of the firm is dependent on three (3) factors: 1. The overall strategy and how achievable it is. 2. The desire of employees to implement the strategy 3. The ability if employees to implement strategy. To this end, TYW will need to ensure that staff training and development (TD) follows the standard staff induction process. TD will enable employees to channel their talent to achieve greater company success. Goals are easier to implement and, hence, strategy is more likely to work, if employees are trained. The relationship between strategy and HR goes further. Geery and Gala (2015) indicate that HR managers who are involved in the directive strategy formation have a greater ability to develop talent pools by hiring the right staff in the organisation. Recommendations for improving the performance of staff 1. Develop a strategic outlook on the type and number of talent required. 2. Continue to interact with management to ensure the fill picture on strategy is achieved 3. Develop a Talent Management Plan 4. Implement a Human Resources Management Information System (HRMIS) 5. Introduce variable salary and compensation that can move upwards if employees achieve their targets. References Saeed, Z., & Shahzad, K. (2015). HR Strategy: Creating Business Strategy with Human Capital. South Asian Journal of Management, 22(4), 200. Acar, P., Gürbüz, F. G., & Yener, M. İ. (2015). The Discovery of HR from Strategy-as- Practice Perspective: A Case Study in Durable Consumer Goods Industry. Procedia-Social and Behavioral Sciences, 207, 325-334. Pick a company (GOOGLE) and discuss what can the company do to ensure the talent is aligned to the company strategy, how do they choose the employee, how do they manage the recruitment process 1. Background of the organisation 2. Importance of human resources as part of its strategy 3. Relationship between HRM and strategic success (idea: short and long term strategy) do they have the strategy that will work, is it achievable? 4. Recommendations for improvement