HR-Strategy: The key to professionalization and securing the future

In today's fast-paced business world, a well-thought-out HR strategy is essential for companies. But why is this the case? And what exactly should such a strategy include? In this article, we take a closer look at why an HR strategy is necessary, what it entails and how companies can develop an effective strategy.

Strategic consultancy for people management

Why do you need an HR strategy?

An HR strategy is not just a nice extra for companies, but an essential component for success in a constantly changing market environment. The aim is to develop a strategy that defines how the HR organization, methods and tools need to develop in the short to medium term in order to achieve business goals in the medium and long term. An inventory with an analysis of strengths and weaknesses forms the basis for developing a target picture together with the client. Both internal and external trends must be taken into account.

Here are some reasons why an HR strategy is essential:

1. Talent acquisition and retention: In an increasingly competitive market, companies need to be able to attract and retain the best talent. A well-thought-out HR strategy helps to develop effective recruitment and retention programs.
2. Employee development: The continuous development of employees is crucial for the long-term success of a company. An HR strategy should include programs for the training and development of employees to ensure that they can reach their full potential and that the company will continue to have the skills it needs in a changing world.
3. Kultur und Engagement: Eine starke Unternehmenskultur und ein hohes Engagement der Mitarbeiter sind entscheidend für die Leistungsfähigkeit eines Unternehmens. Eine HR-Strategie sollte Maßnahmen enthalten, um eine positive Unternehmenskultur zu fördern und das Engagement der Mitarbeiter zu steigern.

Contents of HR strategies

What does an HR strategy include?

A comprehensive HR strategy should cover various aspects of HR management. Here are some key elements that should be included in an HR strategy:

1. Workforce planning: An effective HR strategy should include long-term workforce planning to ensure that the company has the right people with the right skills to achieve its goals.
2. Recruitment and selection: The HR strategy should set out clear policies and procedures for the recruitment and selection of employees to ensure that only the most suitable candidates are selected.
3. Employee development: Employee development and training programs should be an integral part of the HR strategy to ensure that employees can continuously improve their skills and develop further.
4. Performance management: The HR strategy should include clear processes and tools for performance management to ensure that employee performance is regularly assessed and rewarded or encouraged accordingly.

Development of an HR strategy

How to develop an HR strategy?

Developing an HR strategy requires a thorough analysis of the company's business objectives and current HR practices. Here are some steps to consider when developing an HR strategy:

1. Analyzing the business objectives: We start by understanding the company's long-term business goals and analyzing how these can be supported by an effective HR strategy.
2. Assessment of current HR practices: We conduct a thorough assessment of the organization's current HR practices to identify strengths, weaknesses and areas for improvement.
3. Prioritization: Based on the analysis of business objectives and current HR practices, tools and methods, priorities should be set for the HR strategy to ensure that it addresses the most important needs of the organization.
4. Development of an action plan: We develop a detailed action plan for the implementation of the HR strategy, including clearly defined goals, milestones and responsibilities.
5. Monitoring and adjustment: Then regularly monitor the implementation of the HR strategy and adjust it as necessary to ensure that it continues to meet the changing needs of the company.

The contribution of HR organization

Professionalization of HR work: not an option, but a necessity

The HR department plays a crucial role in employee satisfaction and retention. It is not only the first point of contact for candidates in the recruitment process, but also accompanies employees throughout the entire employee cycle. When developing HR strategies, the HR organization itself must therefore also be considered. It is important to identify and develop the right resources and skills so that the HR organization can make the expected value contribution.

Conclusion

A well-thought-out HR strategy is crucial to the long-term success of a company. By recognizing the importance of an HR strategy, integrating the right elements into their strategy and taking a structured approach to development and implementation, companies can ensure they have the right people in place to achieve their goals and thrive in an increasingly competitive market environment. Integrating New Work concepts and adapting to digitalization are key to remaining an attractive employer in the competition for talent and ensuring long-term business success.

About the author

Petra Gerweck is a partner at TCI, senior executive people manager and lawyer with 30+ years of extensive expertise in HR management and employment law. With a focus on interim management and project management, she supports companies in successfully overcoming complex HR challenges and achieving strategic goals.

Source cover image: © Ticha | Adobe Stock