This will eventually be a research paper but I need the foundations filled out. Starting material is attached. Topic: The Role of Human Resource Management Innovation in Attaining Competitive Advantag

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Topic: The Role of Human Resource Management Innovation in Attaining Competitive Advantage

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Topic: The Role of Human Resource Management Innovation in Attaining Competitive Advantage

The 21st century saw greater industrial changes that were characterized by fruitful innovation. In the course of this period, companies started to value the innovators’ work that brought about variations in the industrial sector. Biron et al. (2021) put out that most companies suffered the previous century due to a lack of innovation in human resource management practices. Companies embrace superior knowledge to maximize productivity from the human capital. Studies point out that the 21st century was the year of awakening in the Human Resource Management sector. During this period, most parts of the globe began to embrace innovation to maximize the productivity of human resources to create a competitive advantage (Amarakoon et al., 2018). Innovation refers to a complicated endeavor that encompasses the formation of fresh development that allows the utilization of new procedures, resources, and means (Bailey et al., 2018). More so, in their explanation, Bailey et al. (2018) say the aspect of innovation is significant to the transformation of a company at the industrial and organizational level. For a firm to consider innovation in their operations, they must show their ability to transform operations and resources from a less superior stage to a high superior one.

Human capital is a vital resource for a company. Therefore, applying innovation leads to the maximization of productivity from the organization's workforce. It is a whole change of operations within the Human Resource department. According to Amaarakon et al. (2018) research, innovation goes beyond generating new changes in the organization. In innovation, you first acquire the system that will make the changes. Thereafter you deduce the ideas after which the workforces will turn the acquired knowledge into use. In this case, the human resource professionals should embrace the Human Resources Management Innovation system (HRMI). Bailey et al. (2018) offer a definition of HRMI as the application of fresh ideas, technologies, and methods to satisfy the ever-evolving organizational requirements and its workforce.

Adopting HRMI approaches maximizes production, thereby reflecting on better market returns since human capital production is maximized. Many market-dominant company directors believe that the HRMI approach is one of the utmost systems for enhancing the return of their ventures. Biron et al. (2021) urge organizations to become creative and innovative with their human resources and continue with HRMI approaches as the top recommendation.

Also, continuous transformation helps companies to gain a competitive advantage. Therefore, continuous changes in organizational structures through the adaption of innovation helps the company to maximize their production capacity. Amaarakon et al. (2018) suggest that Human Resource professionals have to nurture new information and knowledge configurations and facilitate designing and implementing human resource management innovation. Biron et al. (2021) concur that HRMI is a very intricate pursuit that encompasses pursuing amazing ideas for transforming the various processes of a firm's human capital to improve productivity while gaining a competitive advantage.

Besides, a company cannot maintain its market dominance unless the human resource goes beyond the implementation process. Moving past the implementation of HRMI systems will maintain the market dominance of the organization. More so, the survival of the company in the dynamic world depends on upgrading the HRMI systems in place. Bailey et al. (2018) say survival companies that upgrade HRMI approaches are much easier than organizations that have maintained the same HRMI approaches conservatively. Based on the HRMI system's description, the process is guided by two major phases: Process and Outcome.

In conclusion, studies show that making profits in the current markets requires a highly resourceful human capital in the organization. The need to be innovative with human resource proves to be the way for overcoming the forces of competitiveness. Therefore, adapting HRMI has proved to improve human capital productivity, overcome the market forces while gaining power for recording higher profits.

References

Amaarakon , U., Weerawardena, J., & Verreynne, M. L. (2018). Learning capabilities, human resource management innovation, and competitive advantage. The International Journal of Human Resources Management, 29 (10), 1736-1766.

Bailey, C., Mankin, D., & Garavan, T. (2018). Strategic human resource management. Oxford University Press.

Biron, M., De Cieri, H., Fulmer, I., Lin, C. H. V., Mayrhofer, W., Nyfoudi, M., ….& Sun, J. M. J. (2021). Structuring for innovative responses to human resources approach challenges: A skunkworks approach. Human Resources Management Review, 31(2), 100768.