In: Economics
what is the swot matrix for Human Resources Team Work?
The method of SWOT analysis begins by defining the strengths and weaknesses of HR team members, policies and procedures, work environment, connectivity and organizational impacts. The opportunities offered by HR will rely on internal and external factors, and on the willingness of HR to act on them. Threats can be internal or external, such as budget cuts, outsourcing, new business competition or increased health-care premiums. External feedback to add objectivity to the process is provided by customer or employee satisfaction surveys. Additional information from senior management will also provide valuable insight into the SWOT categories.
Comparing the data from HR's SWOT analysis to the company's mission and strategic goals helps HR to understand how its strengths and weaknesses affect its organizational support capacity. Threats can be limited to HR, or influence the company as a whole. The resources found through the process should have a positive impact on the human resource team and promote the goals and objectives of the company.
HR can use the results of SWOT analysis to set goals for the human resources department and team members. The strengths and weaknesses of the department can be attributed to individual team members which help identify top performers and those who need training. The team should determine how threats can be minimised or eliminated. Opportunities become items for the budget and for staffing. The findings of the SWOT analysis become the basis of the strategic plan for HR.