A very common term in business is strategic planning
A very common term in business is strategic planning. The strategic plan serves as a guide for businesses to achieve their mission. The standard strategic plan presents an organization’s strengths and weaknesses, the environment in which the organization operates, and the goals the organization desires to achieve within a specific time frame. In order to achieve the desired goals that are presented in a strategic plan, it is important that the organization take a strategic approach to human resource management.
Human resource planning is the ongoing process of systematic planning to achieve optimum use of an organization’s human resources. To develop a strategic HR plan, human resource professionals must forecast labor demand, analyze present labor supply, and balance projected labor demand and supply. This is the standard model of strategic human resource planning. Strategic human resource planning goes hand-in-hand with an organization’s overall strategic plan. As a human resource director, it is imperative that you have the strategic vision, when it comes to human resource needs, necessary for your organization to achieve its goals that were set forth in its strategic plan.