Dear Naveen and Ruchi,
First, I express my gratitude to Mr.Badlooser for this subject and advise to me because this is his idea, he has guided me to explain this approach which was different from conventional HR approach to follow market practices. According to him:
If you see this as an opportunity with theoretical HR perspective as bookish HR Initiatives and interventions that will remain academic interest only and have no practical impact on your business health therefore it may not worth saying a challenging HR because we are joining same bandwagon who follow identical practices across industry.
But we need to think differently and very much practical that will be typical solution provider and value addition to the business model.
We first have to understand the business process and role of HR in the revenue generation process in the business as one of the vertical business line.
Then, we have do the SWOT analysis to prepare HR agenda and set targets, for example mostly we forget to take HRM measures that generates revenue by improving the efficiency and quality of workforce.
The standard or quality and efficiency of workforce definitely make business work and by improving these Human Capital we can increase revenue.
This increase can be measured in per employee revenue generation ratio and removing redundancies and cumbersome system that is not worth. For this you need to conduct activity analysis and process mapping. By this method you may arrive at one best model of restructuring with appropriate Human Capital Management model which will be more efficient and effective.
Kind Regards,
Partho