Why is it important for companies today to make their human resources into a competitive advantage? Explain how HR can contribute to doing this. What are some examples of employers who do this?
Answers
It is important for companies today to make their human resources into a competitive advantage due to reasons as mentioned below.
• Globalization and competitive trends –
Today, the global environment is becoming more and more competitive. At the same time the workforce is becoming more diverse.
• Knowledge work –
There is more emphasis on “knowledge work” due to changes in technology. So developing human resource and their knowledge, education, expertise and skills is necessary.
• Changing Business Environment –
Overall the business scenario has become very critical. So the success of organization is more linked up to the human resource performance.
Answer:
Explanation: By improving employee perception throughout the workforce and giving workers a well-rounded experience, HR plays a crucial part in creating a company's strategy.