Discuss the Role of Strategic Human Resource Management in Developing Sustainable Competitive Advantage in Contemporary Budget Hotel Chains.
Recruitment and Selection: SHRM can help budget hotel chains in selecting and recruiting employees who have the right skills, knowledge, and experience to meet the needs of the organization. By selecting and recruiting the right employees, budget hotel chains can ensure that they have a talented and motivated workforce that can contribute to the organiz
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Training and Development: SHRM can also help budget hotel chains in providing training and development opportunities to employees. By investing in employee training and development, budget hotel chains can improve employee skills and knowledge, which can lead to better job performance and higher levels of customer satisfaction.
Performance Management: SHRM can help budget hotel chains in managing employee performance. By setting clear performance goals and providing regular feedback, budget hotel chains can motivate employees to perform at their best, which can lead to higher levels of productivity and customer satisfaction.
Compensation and Benefits: SHRM can help budget hotel chains in developing compensation and benefits packages that are competitive and attractive to employees. By offering competitive compensation and benefits, budget hotel chains can attract and retain talented employees, which can lead to sustainable competitive advantage.
Employee Relations: SHRM can help budget hotel chains in managing employee relations effectively. By promoting a positive work environment and resolving conflicts promptly, budget hotel chains can create a positive organizational culture that can lead to higher levels of employee engagement and satisfaction.
In summary, SHRM plays a critical role in developing sustainable competitive advantage in contemporary budget hotel chains. By aligning human resource strategies with the organization’s strategic goals and objectives, budget hotel chains can create a talented and motivated workforce that can contribute to the organization’s success.