Human Resource Management | HR Staffing | Staffing Strategies

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HR Staffing | Staffing Strategies

Companies work hard to have a competitive advantage that helps them in continuous growth in the market. Growth and reputation is more easily achieved when the focus is more towards strengthening organizational capabilities. These capabilities are the means of acquiring, nurturing and retaining talented staff to fulfill business strategy, along with the necessary marketing, technological and financial resources required to maximize business value. The objective of this chapter is to understand the role of staffing in creating and sustaining a competitive advantage for a company. The role and importance of staffing as it attempts to execute different types of business strategies is also examined.

Business Strategies of a Firm

Business strategy of a company defines many important aspects like, how the firm is responding to competition in the market. This further determines on how the company can cope in emergencies and increasing demands from customers. Using the business strategy resources can be leveraged to maximize the bottom line and overall value. Business strategies or goals can differ from one type of business to the other. For example, organizations like Procter & Gamble, TATA Group of Companies, IBM, GE, etc. have multiple products and perform businesses in diverse areas by adopting different strategic approaches to sustain and ensure success in their varied business lines.

Executing a business strategy is done by the staff (people) working in the firm, hence it becomes critical to hire and retain the right people to achieve the business goal and obtain the competitive advantage for the firm. The term competitive advantage implies different meanings in different business contexts. In a business company, competitive advantage is achieved by providing superior quality products or services at an affordable price for the customer.