Abstract

In today’s rapidly and ever-changing business environment, the critical importance of competitive advantage is being recognized globally by all businesses. Further, firms are actively looking for ways to ensure that their core competencies are developed to the fullest extent possible to stay in tune with today’s business environment. In this context, it is interesting to note that Strategic human resource management (SHRM) is being considered as a very important phenomenon by practicing managers both in India and abroad. Review of related research in the area suggests that SHRM emphasizes upon a thorough understanding of effective HR practices which could facilitate desirable operational returns and subsequently an enhanced organizational performance. The present working research paper seeks to explore and highlight the concept and importance of SHRM and put forward the managerial implications of SHRM for practicing managers to ensure that organization’s performance is in tune with increasing competition.

Key words: Human Resources; Strategic Human Resource Management; HR Practices; Competitive Advantage; Organizational Performance