Strategic Human Capital Planning for Business Success

Abstract

Strategic human capital management is gaining more importance day by day because organizations have to make sure the business will perform well in the industry in a changing business environmental. Firms should look for their internal resources as well collect external resources while they lack as the sources of strategies. Resources those are unrivaled, important, valuable, and non-substitutable will lead to competitive advantage. However, employee behavior, aptitude and work outcomes are influenced by strategic human capital management which led to business success. This project is prepared based on two companies. First one is Beacon Pharmaceuticals Ltd. and second one is Square Pharmaceuticals Ltd. In this report strategic human capital planning of these two companies are demonstrated. This planning includes recruitment and selection process, training and development process, performance management and employee benefit, leave and other allowances strategies. Beside, business performances of these two companies are described. Finally the relation between strategic human capital planning and business performance are identified. This report proves that strategic human capital planning strongly enhances business performance.