HR models that HR Practitioner must have knowledge of
Human Resources Models are very helpful tools that are helpful to analyze business problems and structure of thinking. An HR Practitioner usually takes help from these models to better communicate the recommendations to their clients. There are several scientific articles trying to rise up with better and helpful models in human resources, business, management as well as strategy.
Effective HR models can do
The employees play a crucial element in the success of any business as they drive innovation, develop a relationship with prospects and customers, and deliver better customer experience. If they are disengaged, uncertain related their role, and/or confused about the business values, it’s definitely going to impact heavily and quickly on the bottom line.
All of this means that the HR must be given a lot of importance. To be fair, most firms recognize this. Employee bonding days, wellness programs, resting and relaxation rooms are facing normal for large workplaces.
While there are many HR models for enhancing human resources, talent management, employee training is front and center. There are a few innovative ways that the professionals, employee experience officers, and talent managers in several enterprises are applying employee training to build a better business that leads to growth.
An effective model comes up with several challenges that HR Practitioner usually encounter.
👉 The workforce demographic changes every annum, so human resource professionals are required to map out a strategy for each age group.
👉 Several conversations are taken place on social media channels that mean that it’s hard for employers to keep up with the new trends.
👉 There’s a shortage of qualified HR professionals who are quite talented in some industries, making it difficult for employers to find the right people.
Top HR models that a HR Practitioner should know are
Now let’s have a look at the top and most effective HR models that are every human resource practitioner must have knowledge of:
👉 Porter’s Five Forces Model
Michael Porter’s Five Forces model is the well-known business strategy framework. It is typically used when analyzing industries. The Five Forces model is helpful for getting how competitive in an industry is based on five various aspects: the rivalry among already available competitors, the threat of new entrants (potential competitors), threat of substitute products (alternatives), the bargaining power of suppliers and buyers. If these are strong, competition will be taken into account more. A firm might want to think twice before beginning that certain industry. According to this model, firms with little competition offer for larger margins and are therefore more attractive to start.
👉 Treacy and Wiersema’s Value Disciplines
Treacy and Wiersema’s Value Disciplines HR models, create upon the essential message of Porter’s Generic plans (i.e. companies must have a better vision in what they want to be understood for and what they want to enhance in). If a firm tries to improve in multiple (often contradicting) disciplines, it is likely to finish up the somewhere in the center.
Treacy and Wiersema’s propose three value disciplines from which the HR Practitioner can choose from, so that they can be a market leader: Product Leadership (the best and most better product providing), Operational Excellence (the most reasonable products via cost-effective production process), and Customer Intimacy (advanced customer service and customer relationship management). Selecting every one of the areas has great consequences on how the firm must be operating in terms of structure, processes and culture.
👉 Ansoff Matrix
There are various types of growing a business. Igor Ansoff identified four strategies for development, growth and termed them as “Ansoff Matrix”. The Ansoff Matrix (also known as the Product/Market Expansion Grid) offers managers to rapidly summarize these potential growth strategies and compare them to the risk related with each one. The four growth strategies are Market Penetration (giving more of the present products to new markets), Market Development (giving the present products to new markets), Product Development (giving latest products to new markets) and Diversification (launching latest products in new markets). The idea is that every time one moves into a latest quadrant (horizontally or vertically), risk maximizes.