Analyse and evaluate the overall HR strategy, especially in relation Assignment

Analyse and evaluate the overall HR strategy, especially in relation to manpower planning and talent management - Assignment Example The HR strategy of the company aims to use project management system for HR configuration. The main problems of TNNB are in talent management and manpower planning and outcomes that do not support HR strategy because its HR strategy has not been designed to support business strategy. To resolve these problems, a best fit HR theory and holistic talent management approach are used in changing HR strategy because they can leverage talent management to ensure that manpower supports business strategy and HRS. HR strategy refers to the total approach and means that an organisation takes to manage workers using formal and informal policies and practices (Wilton, 2011, p.58). HR strategy can also respond to specific emerging organisational issues that require HRM support and changes. An example is talent management issues that might require changes in performance management and talent development. Functional HR strategies correspond to the core areas of human resource management- resourcing, performance management, pay and conditions, employee relations, and development (Armstrong and Baron, 2002, p.149). Each aspect of HRM processes must be interconnected with the HR strategy. Business strategy defines organisational goals, where the organisation competes with, and how it is going to approach its attainment of goals (Lyneis, 2011, p.69). A company’s business strategy includes company goals, products and services to be offered, target markets, and competitive pricing (Lyneis, 2011, p.69). Business strategy also concerns matching internal skills, knowledge, and resources with opportunities and threats in the external environment (Grant, 2002, p.135). Strategy should not focus on market opportunities only, but address internal strengths and weaknesses and their proper management. Grant (2002) argued for the role of company resources in attaining competitiveness