Role of Human Resources in Business Strategy and Economic Performance
Keywords:
human resource management, business strategy, economic performance, talent management, human capital theory
Abstract
The role of Human Resource (HR) management in shaping business strategy and enhancing economic performance has evolved significantly. This study explores how HR strategies can be integrated into business plans to drive organizational success. Using the Resource-Based View and Human Capital Theory as theoretical frameworks, the research examines the impact of HR practices, such as talent management, employee training, and inclusion policies, on financial performance metrics like profitability and productivity. A mixedmethods approach, combining quantitative surveys of 200 companies across various industries with qualitative case studies, is employed to analyze the relationship between HR strategies and economic outcomes. Findings indicate that strategic HR practices, particularly talent management and training, are positively associated with increased profitability and productivity. The results suggest that effective HR strategies can be a significant driver of business success, providing a competitive advantage through the optimal use of human capital.
Downloads
How to Cite
References
R Ahmad, R Othman, M Kadar (2021) The role of HR practices in driving sustainable business performance in the manufacturing sector of Malaysia. 280, 124581.
M Armstrong, S Taylor (2020) Armstrongs Handbook of Human-resource Management Practice (11th ed.). 18(4).
M Armstrong, S Taylor (2020) Armstrong's Handbook of Human Resource Management Practice.
J Barney (1991) Firm resources and sustained competitive advantage. 17(1), 99-120.
Jay Barney (1991) Firm Resources and Sustained Competitive Advantage. 17(1), 99-120.
B Becker, T Bock (2022) The impact of digital HR practices on organizational performance. 31(2), 142-157.
B Becker, M Huselid (2006) Strategic human resources management: Where do we go from here. 32(6), 898-925.
B Becker, M Huselid (2006) Strategic human resources management: where do we go from here. 32(6), 898-925.
G Becker (1964) Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education.
G Becker (1964) Human capital: A theoretical and empirical analysis, with special reference to education.
Peter Boxall, John Purcell (2016) Strategy and Human Resource Management.
Virginia Braun, Victoria Clarke (2006) Using thematic analysis in psychology. 3(2), 77-101.
P Buller, G Mcevoy (2012) Strategy, human resource management and performance: Sharpening line of sight. 22(1), 43-56.
J Creswell, V Plano Clark (2018) Designing and conducting mixed methods research.
D Dillman, J Smyth, L Christian (2014) Internet, phone, mail, and mixed-mode surveys: The tailored design method.
Ilker Etikan, S Musa, R Alkassim (2016) Comparison of Convenience Sampling and Purposive Sampling. 5(1), 1.
Michael Fetters, Leslie Curry, John Creswell (2013) Achieving Integration in Mixed Methods Designs-Principles and Practices. 48(6pt2), 2134-2156.
A Field (2018) Discovering Statistics Using IBM SPSS Statistics. And Sex and Drugs and Rock'n'Roll. 27(6), 430-430.
D Guest (2011) Human resource management and performance: Still searching for some answers. 21(1), 3-13.
M Huselid (1995) THE IMPACT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON TURNOVER, PRODUCTIVITY, AND CORPORATE FINANCIAL PERFORMANCE.. 38(3), 635-672.
H Kallio, A Pietilä, M Johnson, J Wong (2016) Systematic methodological review: Developing a framework for a qualitative semistructured interview guide. 72(12), 2954-2965.
S Khalid, M Rehman, A Khan (2019) Impact of HR practices on organizational performance in the banking sector of Pakistan. 19(4), 263-278.
A López-Cabrales, V García-Morales, R Valle-Cabrera (2020) HR practices and innovation: A study in Spanish SMEs. 31(2), 141-162.
S Marinova, D Vasileva, K Kamenova (2021) Influence of HR practices on employee retention in the hospitality industry in Bulgaria. 37, 100-106.
(2020) Allas, Tera, (born 1968), Visiting Fellow, McKinsey Global Institute, since 2015.
D Nguyen, L Ngo, H Nguyen (2022) The relationship between HR practices and employee performance in Vietnamese manu-References Références Referencias facturing firms. 12(1), 135-154.
Marcus Noland, Tyler Moran, Barbara Kotschwar (2016) Is Gender Diversity Profitable? Evidence from a Global Survey.
P Patel, M Cardon (2020) Employee engagement and performance in healthcare: A study of Indian healthcare professionals. 34(1), 93-106.
M Slaughter, L Leslie, J Taylor (2021) Rethinking the link between human resources and firm performance. 23(4), 83-96.
H Teng, M Huang, Q Gu (2023) The role of HR practices in enhancing innovation capabilities in Taiwanese tech firms. 18(1), 20-36.
D Ulrich (2013) Human resource champions: The next agenda for adding value and delivering results.
L Varga, S Mitev (2023) HRM and employee well-being: Evidence from Eastern European organizations. 45(3), 675-691.
Patrick Wright, Gary Mcmahan, Abagail Mcwilliams (1994) Human resources and sustained competitive advantage: a resource-based perspective. 5(2), 301-326.
Y Zhang, X Zhang, Y Hu (2024) The impact of HRM on organizational agility: Evidence from Chinese firms. 62(4), 763-780.
Published
2025-01-06
Issue
Section
License
Copyright (c) 2024 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.