SUBSTANTIATION OF HR STRATEGY IN THE BUSINESS PLAN OF THE COMPANY
Authors: Vedernikov M. D. , Chernushkina O. O. , Volianska-Savchuk L. V. 
Published: July 2023

The purpose of the article is to improve theoretical and methodological approaches and develop practical recommendations for improvement of the technology for development and substantiation of HR strategy in the company's business plan, the implementation of which ensures an increase in the level of labour potential and strengthening of competitive advantages. The article describes the content of business planning, the goals of developing a business plan, and the tasks that business planning solves. The process of business planning and methods of developing a business plan are considered. The typical structure, principles and methodology of drawing up a company's business plan are disclosed. It has been determined that the most important element in the general business plan, which helps in defining the tasks, strategy and goals of the company, and contributes to their implementation through appropriate measures, is the HR strategy. The essence, classification characteristics and methodological principles of the formation of the HR strategy in the company's business plan are revealed, the methods of implementing the company's HR strategy are characterized. The relationship between the company's strategy and the HR strategy in business planning is determined.

Methodology. An important element of planning that can decisively predict the company's response to the demands of the external environment and support its appropriate behaviour in the market is business planning. The defining component of the general business plan, which helps in defining the tasks, strategy and goals of the company, contributes to their implementation through appropriate measures, is the HR strategy. HR strategy is subject to a specific type of corporate strategy. An HR strategy is formed according to the variant of the company's strategy.

Results. One of the modern tools of strategic planning is business planning, which is increasingly used in business practice. The business plan contributes to the improvement of organizational level of the company, it functions as a regulatory document for achieving goals, objectives and implementing the planned strategy. The main goals of developing a business plan are to attract investors, plan the company's economic activities for the near and distant periods in accordance with market needs and the possibilities of obtaining the necessary resources, drawing up documents for obtaining investments, focusing the attention of the company's management on the main problems and directions of development, developing a clear business strategy, obtaining the desired result of activity within a certain time. In the process of business planning, there is a need for certain projects, calculations, substantiations. The leading place among the company's corporate and functional strategies belongs to HR strategies, which are aimed at improving the competitive position of the company and its individual business units. A strategic approach to human resource management processes becomes relevant in conditions of high uncertainty and variability of the company's operating environment. The result of applying a strategic approach to human resources management is specific functional strategies of personnel management, which reflect the organization's orientations on key issues of people management. The strategic goal of the HR strategy in the business plan is to ensure the development of the company due to the effective use of human capital. When forming an HR strategy, the main task becomes the determination of future changes and trends, the substantiation of changes that contribute to the sustainable development of the company.

Practical implications. HR strategy is a way of using the opportunities provided by external environment to strengthen and preserve the company's competitiveness through the effective formation, use and development of the company's human resources. Implementation of the HR strategy is an important stage of the overall business plan. For its successful course, the management of the organization must adhere to the following rules: firstly, the goals, strategies, tasks of personnel management must be carefully and timely communicated to all employees of the organization in order to get from them not only an understanding of what the organization and the personnel management service do, but also informal involvement in the process of strategy implementation, in particular, making employees commit themselves to the organization regarding the implementation of the strategy; secondly, the general management of the organization and the heads of the personnel management service must not only ensure the timely use of all resources necessary for implementation (material, equipment, office equipment, financial, etc.), but also have a strategy implementation plan in the form of targeted instructions regarding the state and development of labour potential and record the achievement of each goal. HR strategy corresponds to a specific type of corporate strategy. The main task of the company's management is to choose adequate anti-crisis development strategies.

Value/originality. The effectiveness of business planning depends on the applied methodology. Among the most well-known and tested international business planning methods and standards are the UNIDO method, the EBRD method, the Goldman Sachs method, the Ernst & Young method, the TACIS method, and the method according to KPMG standards. In particular, the structure of the business plan according to the UNIDO methodology is aimed at revealing and presenting the benefits of the proposed business idea. The product or service, the target audience, the assessment of competitors, the analysis of competitiveness are described in detail, the marketing strategy, organizational, production and financial plans aimed at the implementation of the proposed business idea are developed. At the same time, only the experience of entrepreneurial activity is cited as an internal assessment of the enterprise. According to the EBRD business plan methodology, it is necessary to describe in sufficient detail the functioning of the business itself, to list the main suppliers, to describe the sales system, the corporate management system, to indicate the scope of implementation, as well as the credit history and current financial results. At the same time, the very idea of the project is revealed superficially. The most important element in the overall business plan is the HR strategy. The implementation of the concept of strategic management will be possible only when the company is strategically oriented, when the staff will have a strategic mindset, a strategic planning system will be applied, which will enable the development and use of an integrated system of strategic business plans, and the current activities will be subordinated to the achievement of the set strategic goals.