Page 39 - BANKING FINANCE OCTOBER 2021

ARTICLE

ROLE OF HR

AS A

STRATEGIC

PARTNER

S trategic human resource management involves a of opportunities for HR professionals. Nearly all HR leaders

future focused goal-oriented process of developing
in the largest global companies are involved in strategic
and implementing HR programs and initiatives
decision-making and are member of the organization's
that will address and solve business problems and
directly contribute in achieving major long-term strategy team, and a majority of HR professionals have
strategic planning as part of their core job. In contrast, HR
business objectives of the organization. professionals in many medium and small organizations are
not often involved in organizational or functional strategic
Gone are the days when HR management was seen as an planning.
administrative function focused on daily responsibilities such
as employee recruiting and selection and managing Consequently, to achieve long-term strategic HR objectives
employee benefits. Changing market conditions and new that are set by HR and to be a key player in the
business thinking call for HR business strategies that include organization's strategic planning process, some HR
recruiting and retaining the right people, as well as providing departments may need to strive and justify to senior
ethical and cultural leadership. management about the value and contribution they can
provide , and in overall organizations strategy.
Strategic planning presents great challenges and plethora
How to develop a strategic HR plan?
About the author
Developing a strategic HR plan is an art as well as it needs
scientific approach. HR's role includes developing a plan of
Abhinav Jain HR initiatives to achieve and promote the behaviors, culture
Senior Manager - Faculty and competencies needed to attain and achieve
STC Bhopal organizational goals.

BANKING FINANCE | OCTOBER | 2021 | 39