H&M Hr Strategy

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Human resource management is the process of acquiring, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns. HRM includes five major functions: * Planning: establishing goals and standards

* Organizing: giving each subordinate a specific task
* Staffing: determining what type of people should be hire * Leading: getting others to get the job done
* Controlling: setting standards and comparing the actual performance with actual standards. ‘Human resource management is a strategic and coherent approach to management of an organization’s most valuable assets. The people contribute individually and collectively to the achievement of the object (Armstrong 2006).’ Human resource management helps in hiring the right person at right place, want their people to do their best, proper utilization of time and helps to give proper training to their employees. HRM helps in employing right person at right place with right skills. HRM encourage the employees to achieve the organizational goals and high performance of the company. AIM OF THE ASSIGNMENT

The main aim of the study is to critically analyze and valuate the strategic human resource management of H&M. The study will include the HR function and policy of the company. We will also study the recruitment and selection procedure of the company. BACKGROUND OF THE COMPANY

H&M was established in 1947 by Erling Persson in Sweden. The first H&M offer high quality fashion and quality at its best price. The company deals in fashion for men, women, teenagers and children. H&M also deals in cosmetics, accessories and footwear. They have around 2000 stores across the world. Online shopping is currently available in Sweden, Finland, Norway, Denmark, Germany, Austria and UK. All the stores are refreshed with new items on daily basis. The collection is created by around 100-in house designers together with pattern and buyer makers. The company has around 28 production offices around the world. The company does not have its own production units; instead have around 700 suppliers mainly in Asia and Europe from where it buys its goods. They have around 16 production units around the world. H&M has about 76,000 people working in the company. H&M’s employees are very dedicated and focused for their work which makes a major contribution to company’s success. The company provides proper training and special courses to their employees which is paid out of the company’s budget. Moreover the company believes in individual ability and motivates them to grow further. The turnover for the year 2009 was SEK 118,697 million. Germany is H&M’s number one market producing more than 25% of the sales. MISSION STATEMENT OF H&M

‘Fashion and quality at the best price’ is the company’s mission statement. MAIN COMPETITOR’S
Strategic human resource management means formulating and executing human resource policies and practices that produce the employee competencies and behaviors the company needs to achieve its strategic aims. For example, one of FedEx’s strategic aims is to achieve superior levels of customer service and high profitability through a highly committed workforce, preferably in a nonunion environment. SHRM link’s HRM to achieve the strategic goals and objectives of the company. STRATEGIC HUMAN RESOURCE CHALLENGES

* Need to support corporate productivity and performance improvement efforts. * Employees play an expanded role in employer’s performance improvement efforts. * Human resource must be more involved in designing- not just executing- the company’s strategic plan. THREE MAIN STRATEGIC HUMAN RESOURCE SYSTEM COMPONENTS

* High performance work system
* Measuring HR’s...
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