The Impact of Strategic Human Resource Management practices on Global competitiveness

Abstract

Globalization is the word used to describe the growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. The growing interdependence of the world’s economies, cultures and population, brought about by cross-border trade in goods and services has given a kick hike to globalization. This increase in conceptual and empirical work has now shifted the focus on how firms go about globally, keeping along the development and maintaining the advantage of globalization. The global competitiveness is concerned with overall performance of the economies all over the globe. It may have many inferences for human resource management practices in an organization. It helps to create job opportunities as the business expands. By providing better quality products and employment it improves the standard of living of the people. Strategic human resource aims for the proper management of human resources within the organization for the impactful attainment of the goals set. Considering global competitiveness, strategic human resource management pivots in the pursuit of objectives that would make the organization stand distinct from its competitors. A competitive advantage is not a short term process but is gained through the long term allocation of the resources of the company and matching these resources with the capabilities of the human resource within the organization. Thus, the organizations, whether expanding or already expanded, should identify their needs and make sure that they align with the organization’s objective to eye the pinnacle in the global competitiveness. In this paper the researchers tried to focus on the impact and relevancy of Strategic Human Resource Management practices with global competitiveness.