Strategic Human Resources Management Ways to Achieve Competitive Advantage
Year: 2024
Type: article
Abstract: Global trade, commerce, finance, production, and service sectors have expanded across continents and nations, achieving a worldwide scale. Concurrently, the proliferation of international shopping has led to a rise in individuals seeking participation in the global market, resulting in heightened competition. Current enterprises face several competitors. In this competitive landscape, the firm must distinguish itself, formulate its strategy, and articulate its vision to surpass rivals and enhance its market share. The most efficacious approaches to achieving competitive advantage in strategic management include the use of strategic human resource management techniques. The ability of firms to engage in global competition and distinguish themselves depends on the choices they make and execute in strategic human resource management. For multinational corporations, achieving competitive advantage relies on the effective management of human resources. In international corporations, human resources management is crucial for achieving competitive advantage or sustaining market share by ensuring that individuals from many cultures collaborate well, embrace the organization's values, and experience a sense of belonging. The significance and function of human resources infrastructure in contemporary management are increasing. In organizations employing a strategic management approach, the alignment between the management and human resources departments, their shared commitment to a common objective, and their collaborative decision-making in accordance with organizational goals enhance success and confer a competitive advantage. The management divisions of firms, in establishing future objectives and goals, may cultivate a competitive edge by emphasizing their most critical asset: human resources. Through human resources management, organizations can integrate new talents and successful candidates while maintaining a credible company image, implement ongoing training initiatives to enhance the skills of current employees, offer equitable practices, benefits, promotions, and salary increases to ensure job satisfaction, and foster commitment through activities designed to enhance employee satisfaction. Furthermore, after the termination and departure from the firm, the previous conduct and approach towards the employee or workers may be reflected in the attitude, behavior, and structure that prevents former employees from feeling alone and powerless. Furthermore, as an employer, the preference of workers escalates, resulting in a competitive advantage via the recruitment of top talent. Keywords: Strategic Management, Competitive Advantage, Preferability, Organizational loyalty
Authors: DİRİL, Pamir, Kirmaci, R. Bulend
Institution: St Clements University Higher Education School
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6911727409
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