Strategic Human Resource Management explained in this answer

In organizations today, the emphasis is on performance and the contribution that a function makes to the success of the organization. Senior managers demand evidence of effectiveness and efficiency. They want to know, for example, How much will the new performance management system cost, or what difference will it make in the company's performance?

If you were the CEO of a large, diversified, multinational company, what value do you expect your HRM function to add to the organization? How would you know whether the HRM function was being effective? Which measures would you look to for evidence of effectiveness? Can you hold the HRM VP directly accountable for the results on the measures that you have identified? Is so, how would you do that? If not, why not and how would you assign accountability?