Question

What is the difference between HR PLAN and HRM STRATEGIC PLAN? How are they the same? how are they different?

Answer 1

Solution -

HR is one of the major functions of any business to ensure that there is proper leadership pipeline and availability of the right skillsets for the organization to ensure revenue growth and leverage the market opportunities. The HR Function also ensures that the workforce is well motivated and is enthusiastic to deliver the right productivity. In a way to manage the organizational objectives the HR has an HR Plan and a HRM Strategic Plan.

The difference between these two plans are - The HR Plan is focused on the short-term objectives while the HRM Strategic Plan is all about looking to answer the long-term objectives of the company. HR plan is more about governance and implementation while HRM strategic plan is more about transformation and change. It is more about thought leadership. HR plan is mostly reactive with the requirements while the strategic plan is more of a proactive approach. HR Plan center is more like a cost center while the Strategic wing is like an investment center. The goals and objectives of HR Plan is all about achieving the right mix through the immediate actions while the Strategic Plan is all about building up a framework to achieve the goals and objectives in the long run.

The similarity between HR Plan and HRM Strategic Plan is that both are as per the current overall policy of the organization. Both these plans are exercised as per the same legal framework of the organization. Both these plans are to ensure the well-being of the organization and the workforce. Both these plans are also looking at parameters like organizational productivity and market requirements.