Human Resource Management Practices: a Comprehensive Review
Research
Human Resource Management Practices: A Comprehensive Review
HUMAN RESOURCE MANAGEMENT PRACTICES: A COMPREHENSIVE REVIEW
Pankaj Tiwari Shri Chimanbhai Patel Institute of Management & Research Ahmedabad-380051 (India) Karunesh Saxena Faculty of Management Studies, Mohanlal Sukhadia University, Udaipur-313001, India Abstract Human Resource is the most important asset for any organization and it is the source of achieving competitive advantage. Managing human resources is very challenging as compared to managing technology or capital and for its effective management, organization requires effective HRM system. HRM system should be backed up by sound HRM practices. HRM practices refer to organizational activities directed at managing the pool of human resources and ensuring that the resources are employed towards the fulfillment of organizational goals. This paper has been designed to review the existing literature available on HRM Practices. The purpose of this paper is to develop an understanding of HRM Practices and to examine the unique HRM practices implemented by different companies. After reviewing the existing literature on HRM practices, the researchers have found that HRM practices get affected by external and internal factors and directly or indirectly affect other variables such as employee’s attitude, employee employer relations, financial performance, employee productivity etc. and ultimately contribute to overall corporate performance. On the basis of the literature reviewed, a normative framework has been 669 PAKISTAN BUSINESS REVIEW JANUARY 2012
Human Resource Management Practices: A Comprehensive Review
Research
developed showing how HRM practices leads to overall corporate performance. Keywords: Human resource management, HRM practices, Organisations , Innovative practices, Employees performance. JEL Classification: Z000 I. Introduction
Human resources are the source of achieving competitive advantage because of its
Human Resource Management Practices: A Comprehensive Review
HUMAN RESOURCE MANAGEMENT PRACTICES: A COMPREHENSIVE REVIEW
Pankaj Tiwari Shri Chimanbhai Patel Institute of Management & Research Ahmedabad-380051 (India) Karunesh Saxena Faculty of Management Studies, Mohanlal Sukhadia University, Udaipur-313001, India Abstract Human Resource is the most important asset for any organization and it is the source of achieving competitive advantage. Managing human resources is very challenging as compared to managing technology or capital and for its effective management, organization requires effective HRM system. HRM system should be backed up by sound HRM practices. HRM practices refer to organizational activities directed at managing the pool of human resources and ensuring that the resources are employed towards the fulfillment of organizational goals. This paper has been designed to review the existing literature available on HRM Practices. The purpose of this paper is to develop an understanding of HRM Practices and to examine the unique HRM practices implemented by different companies. After reviewing the existing literature on HRM practices, the researchers have found that HRM practices get affected by external and internal factors and directly or indirectly affect other variables such as employee’s attitude, employee employer relations, financial performance, employee productivity etc. and ultimately contribute to overall corporate performance. On the basis of the literature reviewed, a normative framework has been 669 PAKISTAN BUSINESS REVIEW JANUARY 2012
Human Resource Management Practices: A Comprehensive Review
Research
developed showing how HRM practices leads to overall corporate performance. Keywords: Human resource management, HRM practices, Organisations , Innovative practices, Employees performance. JEL Classification: Z000 I. Introduction
Human resources are the source of achieving competitive advantage because of its