ACHIEVING COMPETITIVE ADVANTAGE THROUGH HR PRACTICES
The most precious asset in HRM is the
workforce. Employee productivity is a key objective for creating a successful
organization. It will depend on the knowledge and skill of the person. In essence,
every manager in an organization is referred to as an HR manager, including
college deans, matrons, sales managers, and supervisors.
Competitiveness has created new problems for
both organizations and individuals in the evolving global market. Building and
retaining their competent human resources is essential for businesses to
develop or sustain competitiveness.(
Input from HRM is required in the following
areas for a business to have a productive workforce and good employee
performance:
- Planning strategically
- Employee
encouragement
- Health career
advantages
- Selection and recruitment
- design and analysis of jobs
- Labor negotiations
- discussion with labor
Count on HRM to make the best hiring decisions
so that you can concentrate more on productivity and higher sales. The HRM
department is crucial since they can assist in finding, hiring, training, and
maintaining a highly skilled and productive team.
Many businesses have numerous distinct HR practices,
such as those for paying, developing, and rewarding employees. Organizations
will adopt HR strategies if they want to better their workforce.
The challenge for the HR profession is to
demonstrate that excellent HR practices pay off in improved organizational
performance in addition to being morally right to do. This is crucial to
demonstrate that HR "increases value" rather than adding cost to the
firm.
A company may decide to compete by providing
the lowest pricing available. To do that, businesses must be aware of their
running costs, which they must minimize to maximize profit.
For example: To
help improve shop trades and PepsiCo sales, PepsiCo trains store managers in
merchandising tactics.
HRM techniques used in recruitment and selection
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The purpose of hiring is to fill open
positions within a company. Only the greatest candidates will get the
opportunity to work for a firm, and businesses are searching for the best
personnel who can fulfill their needs.(
For example: One
of the biggest and most prosperous technology companies in the world is Apple.
After three to four rounds of interviews, if Apple is satisfied with the
candidate's performance, they will offer them the position.
How Human Resources Can Give You a Competitive
Advantage
Data can be used by HR to analyze turnover rates and spot potential issues.
: enabling the business to identify problems and address them more rapidly. The team can concentrate on identifying potential issues if, for instance, the data indicate that new recruits account for the majority of turnover.
· Managers may gain the capabilities their firm needs to grow and compete by working with HR to find the right individuals.
· HR has knowledge of the talent market prices and what it could take to bring in high-quality hires.
· can be used by HR to identify possible problems with employees before they materialize.
· Plans for succession that take into account the organization's strategic objectives can be created by HR.
· Legal advice from HR can help the company avoid expensive legal complications.
: This not only helps the business save money, but it may also prevent serious setbacks.
Learnings:
The biggest difficulty facing businesses is how to develop their human resources in a way that would allow them to outperform rival companies and function well in highly competitive environments. Successful businesses in both the manufacturing and service sectors have attained (and, more importantly, attribute) their success to the ways in which they were able to manage their human resources to create a competitive edge.
Learnings:
The biggest difficulty facing businesses is how to develop their human resources in a way that would allow them to outperform rival companies and function well in highly competitive environments. Successful businesses in both the manufacturing and service sectors have attained (and, more importantly, attribute) their success to the ways in which they were able to manage their human resources to create a competitive edge.
References :
Haider, I. A. (2018) Gaining Competitive Advantage through Human Resource Management Practices [Online] Available at https://imti771.medium.com/how-can-organization-gain-competitive-advantage-through-hrm-practices-2f64577531a7 Accessed on 27th November 2022.
Singh Narang, M. G. G. (2014) Achieving Competitive Advantage Through Hr Practices [Online] Available at https://www.researchgate.net/publication/269106694_ACHIEVING_COMPETITIVE_ADVANTAGE_THROUGH_HR_PRACTICES Accessed on 27th November 2022.
Jackson, S.E, & Schuler, R. S. 1995. Understanding human resource management in the context of organizations and their environments. In M. R. Rosenzwelg & L. W. Porter (Eds), Annual review of psychology, vol. 46: 237-264. Palo Alto, CA: Annual Reviews.
Competitive Advantage In Human Resource Management (11 Industry Tips)[Online] Available at https://www.iedunote.com/competitive-advantage-human-resource-management Accessed on 27th November 2022.
Nice flow of artical and Adequate addressing of employee needs reduces attrition rate and hence dedicated and talented employees are retained, which become an asset for the firm. Retention of talented workforce and designing of good HR practices have greatly assisted organisation to achieve competitive advantage over other firms is best practice are u agreed?
ReplyDeleteof course agree.Because the greatest HR practices have significantly aided organizations in gaining an advantage over rival companies.
DeleteAs you mentioned HR dep has to contribute to different areas to have a productive workforce and a good employee performance.According to the recruitment and selection can u provide some examples for important techniques that HR should follow?
ReplyDeleteadvertising outside
Deleteuse of social media
utilizing employment agencies
using internal recruitment and
Web advertising can serve as a model for various HR recruitment techniques
I believe that we could consider implementing HR practices such as employment security, high and lucrative wages, employee empowerment, information sharing, and T&D will further benefit to achieve top-notch competitive advantage.
ReplyDeleteYes Udara. There are many different HR methods used by firms, including those for paying, developing, and rewarding employees.
DeleteCan you recommend solutions as well ?
ReplyDeletesome solutions are..
DeleteHR can make succession plans that take into account the strategic goals of the company.
HR's legal counsel can assist the business in avoiding pricey legal snags.
HR need to aware of the costs associated with the talent market and what it might take to attract high-quality workers.
A good read Aruna. You have addressed the issues and provided solutions accordingly
ReplyDeletePublish time to time correct analysis reports to management is one way to give correct picture current situation then company can focus competitive advantage
ReplyDeleteyes .very helpful. Because Organizational culture and core values are shaped through human resources management in accordance with organizational objectives.
ReplyDeleteRecruitment and selection, talent management, reward management, performance management, leadership, employee relationship management, and training and development are just a few examples of basic HRM operations.