Despite its prevalence among companies in Thailand, the functional-based model may not fully meet the expectations of business leaders and other stakeholders. For instance, CEOs prioritize having the right talent to fulfill business objectives over how many proficiency levels of leadership competency are defined. . Similarly, employees value skill development, employability and self autonomy over mere training hours per individual per year target. Therefore, the HR model used for developing Thailand's HR strategy adapts elements from The Harvard model of HRM, introduced in 1984 by Michael Beer,, and Richard E. Walton, to reflect today’s dynamic business landsca pe.
Stakeholders interest
Organizational impact
Customers Shareholder Partners in ecosystem Communities Employee & Management
Financial return Customer satisfaction Corporate reputation Productivity Innovation
HR outcomes
HR Policies & Practices
Completion
Talent Management system
Congruence
HR Operating system
Situational factors
Human impact
Cost effectiveness
HR Role & responsibility
HR Capability
Business strategy Workforce characteristics Labour market Technology Laws and social values
Holistic wellbeing Purposeful life Career growth Engagement
adapted from Harvard model of HRM, Beer et. Al, 1984
Enabling CEO succession delivering results through talent and organization
Increasing market value tied to intangibles; managing risk
Board of Directors
Investors
Enabling employee to fully contribute and have positive work experiences
Ensuring strategic revitalization and transformation
Current and future employee
Senior Executives
Human Capability
Business Leaders
Creating and deploying a value-added HR agenda
Delivering on goals and building high performing team
HR Professional
Why do stakeholders care abut human capability, Dave Ulrich, 2022
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