The 5P model of Strategic Human Resource Management clearly identifies the various HR activities that must be aligned with the strategic needs of the business to gain competitive advantage. These 5 Ps are philosophy, programs, practices, process and __________.

The correct answer is - People

Key Points

• People
  • The 5P model of Strategic Human Resource Management (SHRM) includes five key elements: Philosophy, Programs, Practices, Process, and People.
  • People refers to the workforce of the organization, including their skills, competencies, and alignment with the company's strategic goals.
  • Aligning HR activities with the strategic needs of the business involves focusing on People to ensure they contribute effectively to achieving a competitive advantage.

Additional Information

• Philosophy
  • Refers to the underlying beliefs and values that guide HR policies and practices within an organization.
  • Includes the company's approach to employee management, development, and engagement.
• Programs
  • Encompass the specific HR initiatives and strategies designed to support the organization's goals.
  • Examples include training and development programs, recruitment strategies, and employee retention plans.
• Practices
  • Refers to the day-to-day HR activities and processes that are implemented to manage the workforce effectively.
  • Includes performance management, employee relations, and compensation management.
• Process
  • Describes the systems and procedures used to deliver HR services and support the organization's strategic objectives.
  • Includes workflows, communication channels, and decision-making processes within the HR function.