The relationship between human resource practices and a business’s business plan are aligned in a lot of ways. The ultimate objective of the alignment is to use human capital as a tool to make the most of business assets for the benefit of their stakeholders. Following are a few of the connection between human resource practices and business strategy.

Human resource practices produce the procedure for the development of workers’ knowledge and the skill-set throughout the organization to market its core competencies that support and maintain its competitive edge in the business. The term”strategic HRM” is your new template in the management of a modern organization that is anchored on the concept that the most valuable asset an organization supplies itself is HR because it is the instrument that is accountable for the implementation and coordination of additional factors of production that instills corporate performance journals

The business strategy adopts by a company is supposed to showcase how it intended to be successful by using the factors of production at its disposal to construct a competitive edge, strategy-business. Business strategy will help to identify the way that the organization wants to go in relation to its environment. Human resource plans manage human resource so the goals set by the organization can be accomplished. The focus is directed on what the business intentions are as they relate to human resource policies and practices. Therefore, how the human resource is dispersed throughout the organization’s branches and units, motivated, managed and kept will influence the performance outcome following the business strategy was implemented. The connection between business strategy and human resource practices also would establish the organization competitive and performance result.

Innovation is another standard of performance management,, that if effectively coordinated with an organization business objectives result in a superior performance result. Once an organization devotes a considerable amount of time to innovation and business strategy, and both are valued equally, encouraged across the board, and well communicated, a culture would exist naturally that will foster a connection of both. The fostered culture produces top-down business objectives that are communicated throughout the board in the business, that enable all components to concentrate on addressing the organization’s short and long-term targets. From then, it will become the innovators’ job to devise an orientation of the activities in support of their organization’s goals. The various techniques to coordinate both camps is the joint development of technology/product, and business street maps which promote debate and discussion, forging connections that guide activities. The successful performance outcome is emphasized through internal business and fairs, using the path to boost visibility for long-term opportunities.

Diversity within an organization plays a substantial role in forging a link between performance management and business strategy. There’s a business case for diversity in the business based on the evidence and arguments which both believe that when diversity is leveraged in an organization, it may promote the achievement of the provider’s goals and priorities. To understand the significance of diversity to the success of business objectives, the sort of diversity under consideration needs to be applicable to business performance and innovation