Singapore Shrm

In: Business and Management

Submitted By eidarahims
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1) CASE SUMMARY Singapore is a small country with the population of 5.1 million over people. This country is the world most competitive and developed nation. Currently, Singapore is ranked second (2011) among 142 countries in the Global Competitiveness Index. This success story is primarily contributed by Singapore government continuous emphasis and substantial investment on developing human resources capability throughout all its industries. According to research in Singapore, many academics and practitioners have noted the emergence of a new generation of workers characterized by decreased company loyalty and increased expectations on various aspects of work life. At the same time, increasing emphasis on knowledge-based competition has accelerated the importance of human capital and hence the strategic role of the human resource management (HRM) functions in any organization. A research by David Wan, Victor Kok and Chin Huat Ong of National University of Singapore (NUS) indicated that strategic human resource management (HRM) practices could bring higher levels of organizational performance. Similar studies in the past also indicated comparable findings. Conceptually, all previous studies reveal that there is a positive relationship between HRM practices and firm performance. This article includes a study of 191 Singapore firms. The study found a positive relationship between various aspects of a company’s strategic HRM policies/practices and its HR performance. However, the relationship seems weaker when it comes to a firm’s financial outcome. The study reveals that these two aspects of organizational performance may be affected by different HRM components. It also discusses how proper management of human capital can be a critical source of competitive advantage. 2) THEORETICAL FRAMEWORK Below is the seven hypotheses suggested by…...

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