Fostering Organization Culture & Innovation through Strategic Human Resource Management

Abstract

Continuous changes in the economic scenario and intense competition in the public and private sectors have compelled the organizations to undergo radical changes in its approach towards business. Innovation is one of the vital processes through which organizations achieve competitive advantages in the dynamic knowledge driven economy. Effective management of human capital is a key component for organization wide innovation. This paper focuses on the essential human resource policies and practices through which organizations can create and preserve a culture which fosters innovation. Strategic HRM initiatives are targeted at nurturing the desirable skills and behaviors in employees which are in tune with an innovative organization.