THE IMPACT OF STRATEGIC HUMAN CAPITAL MANAGEMENT ON THE COMPETITIVENESS OF AN ENTERPRISE

Autor: Vasyl Hoichuk, Nadiya Lyubomudrova
Jazyk: angličtina
Rok vydání: 2024
Předmět:
Zdroj: Three Seas Economic Journal, Vol 5, Iss 2 (2024)
Druh dokumentu: article
ISSN: 2661-5150
2661-5290
DOI: 10.30525/2661-5150/2024-2-1
Popis: The purpose of this article is to investigate the impact of strategic human capital management (SHCM) on the competitiveness of enterprises. This study aims to determine how aligning human resource (HR) practices with organisational goals and objectives can improve organisational performance and create a sustainable competitive advantage. Methodology. This research uses a mixed methods approach, combining qualitative and quantitative data collection techniques. Primary data was collected through surveys and interviews with HR managers and executives from a range of industries. Secondary data included a comprehensive review of existing literature and case studies of organisations that have successfully implemented SHCM strategies. Statistical analysis was used to identify correlations between SHCM practices and measures of competitiveness such as market share, financial performance and innovation capacity. Results. The findings suggest that strategic management of human capital significantly enhances organisational competitiveness. Key practices such as strategic alignment of HR policies, effective talent acquisition and retention, continuous employee development, and the implementation of innovative HR technologies were found to be strongly correlated with improved organisational performance. Specifically, organisations that prioritised SHCM experienced higher employee engagement, increased productivity and greater market adaptability. Practical implications. The practical implications of this study suggest that organisations should integrate SHCM into their overall business strategy to achieve sustainable competitive advantage. Organisations are recommended to regularly review and adapt their HR strategies to align them with changing business objectives. Implementing comprehensive training programmes, fostering a motivating work environment and embracing diversity and inclusion are essential to maintaining a competitive edge. In addition, the use of advanced HR technologies can optimise workforce management and improve decision-making processes. Value/Originality. This paper contributes to the existing body of knowledge by providing empirical evidence on the positive impact of SHCM on firm competitiveness. It highlights the multifaceted role of human capital in driving organisational success and provides actionable insights for practitioners and policy makers. The originality of this research lies in its holistic examination of SHCM practices across different industries and its emphasis on the strategic integration of HR management with business objectives. This study underlines the critical importance of human capital as a key determinant of competitive advantage in the modern business landscape.
Databáze: Directory of Open Access Journals
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