CHAPTER 2

Strategic Human Resource Management—A Framework

CHAPTER OBJECTIVES

After reading this chapter, you should be able to:

  1. Understand the concept of strategic human resource management

  2. Understand the models of strategic human resource management

  3. Enumerate the benefits of strategic human resource management

Indian Oil Corporation (IOC) has an annual turnover of $59.22 billion. With a rank of 116, it is the highest-ranked Indian company among the global Fortune 500 companies. It has initiated several innovative HR schemes to convert its employees into a formidable source of competitive advantage. In fact, it has bagged the prestigious SCOPE Gold Trophy for Best Practices in Human Resources Management for 2005–06 for its HR practices. ...

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