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Strategic Human Resource Management (SHRM) outlines the transition of HR from traditional administrative roles to strategic partnership roles aligned with organizational goals. It emphasizes the importance of aligning HR strategies with business objectives, utilizing frameworks such as the Balanced Scorecard to enhance organizational performance and drive competitive advantage.
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Term: Strategic Human Resource Management (SHRM)
Definition: An approach to managing human resources that aligns HR strategies with the organization's long-term goals.
Term: Balanced Scorecard
Definition: A strategic planning and management system used to align business activities with the vision and strategy of the organization.
Term: HR Scorecard
Definition: A tool that tracks the impact of human resource management on overall strategy execution.