Human resource management: the key to competitive advantage

Within recent years human resource management (HRM) has assumed considerable importance in the management of organisations. Many firms have been implementing HRM strategies, and the claim is often made that they are spending more on the development of their human resources than ever before. In a rapidly changing and competitive environment HRM is seen as a strategic factor in influencing not only the success of companies, but also that of nations. The author briefly discusses the nature and purpose of HRM and a framework for its analysis. A case study of its application to an engineering company employing 3500 people is discussed