Human resource management serves a number of functions. For small businesses, these functions may vary according to the size of the work force. In order to effectively and efficiently handle each and every one of your employees, you need the best possible human resource management. There are functions available to handle everything from recruiting and applicant tracking to organizing vital company documents. The Human Resources Management function includes a variety of activities. Key among them are deciding what staffing needs there are, recruiting and training employees, dealing with performance issues and ensuring personnel and management practices conform to various regulations. Activities also include managing employee benefits and compensation, employee records and personnel policies. The “soft” approach will certainly appeal to the “touchy-feely” amongst us who like to see people being treated nicely.
And you can also make a good business case for an approach which rewards employee performance and motivates staff more effectively. However, the danger of taking too “soft” an approach is that when all the employee benefits are added up, the cost of the workforce leaves a business at a competitive disadvantage.
Influence on Marketing Plan:
Price and competition represent two of the strongest influences on marketing strategy. Though classed as internal and external influences, price and competition affect each other dynamically, since how a business enters the market dictates how it responds to competition. For example, small businesses typically require immediate short-term profits; therefore, the marketing strategy introduces a high-performing product to a niche segment of the market before competitors. The business then generates as much profit as possible until competitors introduce a cheaper and/or superior product, and then it moves to launch a new product in a new market.
Hard or soft HRM?
HRM - Hard v Soft HRM...