What is the relationship between human resources and a competitive advantage?
The relationship between human resources and a competitive advantage is the fact that the effectively implemented human resource management regime can be used to the competitive advantage of society. The competitive advantage concerns various strategies that the company can implement, which will give it a competitive advantage over the opponents in this industry or other related sectors. Human resources can be used in different ways to achieve this desired competitive advantage. Hiring the right employees to meet the goals of the company, regulate employees within the company and provide employees with attractive benefits, are examples of how human resources and a competitive advantage are connected.
The department of human resources is responsible for identifying labor requirements in companies and for the involvement of competent employees to occupy these vacancies. During the settings of the goals and objectives of companies, they are visualized and for the purpose of implementing these goals to hire the right combination of employees who canfor the company of assistance in its task. Successful hiring of employees with the desirable human capital is one of the links between human resources and a competitive advantage. The company with the right staff will be able to connect with the wealth of knowledge and experience stored in human elements of the corporation to increase performance and gain a competitive advantage over companies with less skilled workers.
Another way of human resources and a competitive edge is related to the fact that the department of human resources can direct the company society to the care and development of the base of the society for human capital with special requirements of society. This practice includes functions such as training, courses, seminars, personal development and conference programs that the company sponsor. The objective of this type of Human Capital Development is to instill the vision of the company into employees with the hope of directing defined strategiesCompanies for a competitive advantage.
Most successful companies Trully have a well -developed department of human resources with an established strategy for attracting and above all maintaining employees. Companies that do not have a really good job practice will find themselves losing their most valuable and qualified staff to competitors offering better employment packages. This connection between human resources and a competitive advantage includes factors such as attractive wages and other financial compensation, adequate employment guarantee and the promises of further development of employees through training and personal development programs. Good social packages, health insurance and inclusive organizational corporate culture also help the company strengthen its base of human capital, which can be used for a competitive advantage.