Synergy in HR and strategies, a contemporary need for the Pakistan pharmaceutical industry
Ghauri, E & McMurray, D 2013, 'Synergy in HR and strategies, a contemporary need for the Pakistan pharmaceutical industry', Australian Journal of Business and Management Research, vol. 3, no. 9, pp. 46-55.
The empirical evidence laid out in this paper analyses the current human resource management (HRM) practices and their strategic orientation in the Pakistan pharmaceutical industry. The study emphasises and exhibits the evidence for the need to align human resource (HR) and organisational strategies, and objectives in order to retain competitive advantage, knowledge workers and achieve long term strategic objectives. This research is based on multiple qualitative in-depth case studies conducted in the industry, and recommendations indicated in the paper are based upon the empirical findings and synergistic evidence from contemporary western literature. The absence of formal HR functions in 50% of the organisations in the industry and still clerks looking after HR matters, transpire a message for organisational strategists and decision makers that 20th century personnel practices and strategies in today’s dynamic economy may not enable organisations to sustain businesses, achieve strategic objectives and gain competitive advantage. This further points out the reality that organisations even in a developing country like Pakistan cannot be an island anymore in modern and dynamic interconnected global business sphere, and may be easily displaced by organisations from other parts of the world. In order to sustain businesses, retain knowledge workers and attain competitive advantage, it is crucial that HR strategies in the industry are to be aligned to long term strategic objectives, to every functional level and especially revenue generating sales and business development functions of an organisation. This can facilitate an organisation, that employees at every level will have a converged and unified view of organisational and functional strategic objectives. The essentiality of HR practices and HR functions perceived by this study respondents and the evidence from organisations implementing better HR practices advocate that organisations in the industry can also leverage from these practices in obtaining competitive advantage, achieving strategic objectives and retaining their knowledge workers. This further creates the need that other organisations within and out of the industry should be benchmarked for advancement in HR practices and strategies.