Please respond to this discussion. Developing an HR strategic plan can reflect o

Please respond to this discussion.
Developing an HR strategic plan can reflect on the successes and failures of a company, help companies effectively plan to attract and retain the right talent, which is key to a business’s success, and help fill in any gaps the company may have. In addition, strategic planning can set objectives that capitalize on its unique talent and identify the potential problems and opportunities concerning the people expected to implement the business strategy. Finally, it can help companies look ahead and develop a vision of where the company wants to be and help guide them to that end goal.
Based on the case study, some of the components I would change in the HR plan would first determine the growth or decline expected within the marge, if the merge will impact the workforce, forecasted sales next year, and the economic situation. All these aspects will affect how much human capital will be needed for the company to be successful. If no recruiting is required, the next step would be to develop training. Since both companies are merging, the question is whether there will be any new software that employees will need to be trained on or will they have separate operations. It’s also essential to train all employees on the “new” culture and keep them updated on any changes that will occur with the merge. Regarding compensation, the manager must determine pay scales which has already been done but, determine other compensation such as healthcare, bonuses, and other perks. Lastly, set up standards based on their skills to set up performance appraisals which can be used to develop human capital, understand who might be ready or should be developed for a promotion or required training, and determine if anyone will be retiring soon if there will be any replacements.
For the HR plan to be successful, the HRM must conduct a strategic analysis before writing any HRM Plans. Since both companies are merging, understanding their mission and values and their organizational life cycle is essential. They must align department objectives with organizational objectives. Next, the HRM would need an understanding of the HRM department’s mission and values. The HRM department must develop its mission statement, which lists what the department does and its mission and values. Finally, the HRM will need to identify strategic HR issues. Many organizations and departments will use a strategic planning tool that identifies strengths, weaknesses, opportunities, and threats (SWOT analysis) to determine some of the issues they face. Once this analysis is performed for the business, HR can align itself with the needs of the business by understanding the business strategy. Once the company’s SWOT is aligned, HR can develop its SWOT analysis to determine the gaps between HR’s strategic plan and the company’s strategic plan. Once the HRM manager has met with executives and management and priorities have been agreed upon, the plans are ready to be developed.

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