Human Resource Management Strategy as a Small Business Competitive Advantage Tool

• Published in: SHS Web of Conferences 2022, Vol.135, p.1017
• Main Author: Urban, Jan
• Format: Article
• Language: English
• Subjects: business strategy; Competitive advantage; hr management strategy; hr strategy goals and tools; hrm swot analysis; Human resource management; Small business
• ISSN: 2261-2424; 2416-5182; 2261-2424
• DOI: 10.1051/shsconf/202213501017

The goal of a company’s HR management (HRM) strategy is to define its medium-term objectives in HRM and development as well as to specify the main management tools needed for their achievement. The HRM goals set by this strategy should be linked to the company’s strategic business goals and respond in advance to its medium term HRM requirements dictated by both internal and external factors. Corresponding HRM measures and/or policies should be effective in terms of achieving HRM objectives, as well as efficient in terms of their costs and benefits relations. The purpose of this paper based on a qualitative analysis of interviews with small business owners focused on the importance of their HRM strategy for the competitive advantage of their emerging companies, as well as on relevant secondary sources, is to outline a particular methodology and the main characteristics of successful HRM strategies. The main attention is drawn to the linkage of the HRM strategy to the overall companies´ business strategies as well as their appropriate contents and structure.