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Best Practice VS Best Fit
Transcript of Best Practice VS Best Fit
Pfeffer 7 Key HRM practices
Guest four key HRM goals
Work place teams and dentralisation
High pay contingent and better rewards
Reducing status differentials
Business information sharing with employees
Pfeffer's 13 Keys
"David" Guest is the only Anglo-Saxton model, Based on four key goals.
By Michelle Breen
Best Practice VS Best Fit
The 'Best Practice' is based on universalism.
The assumption here is that a set of practices aimed at high commitment or high performance will benefit all organisations regardless of context.
Results in high and best possible performance
No matter what the organization/sector it WILL work
One best way
Comes in and out of fashion
"The Best Practice or the high performance work practices are described as HR methods and systems that have universal, additive, and positive effects on organisational performance"
Best fit suggests that a close alignment between organizational strategy and different systems that it employs like the rewards will go along way in improving the efficiency of the organization
Focused around the immediate needs of an organisation. "More complex than universalistic argyments"
It depends on the context, changes and ajdusts to suit best.
Flexible and can vary over time
Helps achieve long term and short term goals
Foused around buiness needs / aims
High commitment management
Porters Three Generic Strategies
Cost Leadership -
E.g: Ryanair, Aldi, Lidl, & Deals
Cost for the customer is important
Unique selling points
High quality products/services
How you focus your business
What you provide
What you don't provide
Boston Consulting Group's Matrix
Star - Coke a Cola
Cash Cow - Apple Ipods
Question Mark - HMV
Dog - PC's
Miles & Snow's - Strategy HR Fit Model
Defenders - Organizations implementing a defender strategy attempt to protect their market from new competitors.
Prospectors - Organizations implementing a prospector strategy are innovative, seek out new opportunities, take risks and grow.
Analyzers - Organizations implementing analyzer strategies attempt to maintain their current businesses and to be somewhat innovative in new businesses.
Not used by many organisations
One way - Straightforward
Envolved after Best Practice
Works well with most due to its ability to change
HRM & Business strategy works well together