Staffing Strategies Of Recruitment

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Hello friends.

Now we will talk about the “Resource-based view of the firm”.

The “resource-based view” proposes that “a company’s resources and the competencies of the people working there can produce a sustained competitive advantage by creating a value for the customers”.

Now, how can the value be created? Well, you can offer your products and services at a “lower cost”. Or the products and services you offer should have a unique value. Or the combination of both.

Now, the resource-based view of the firm focuses on the “quality of the skills of a company’s workforce at various levels' ' what type of people are there and what kind of skill sets are they bringing into the organization? It also depends on the “quality of the motivational climate created by the senior professionals of the management”.

Then, human resource management is valued the most when they succeed in “generating strategic capability” in an organization. The strategic capability can be created by the people themselves.

Moving forward, we will see how you can create a unique selling proposition through your capabilities in any organization.

Then, in human resource management, “Staffing has the potential to create organizations that are more intelligent and flexible than their competitors”. And the organization can reach a whole another level by how the employers co-operate and operate in it. Okay.

You can have a look at many organization examples in today’s date that are mostly famous for their practices. Such organizations are always ranked under the top 10 or top 20 list of best working spaces or best organization cultures. Do you know why? It is because these organizations change themselves with changing times and they generate new capabilities within their organization.

They deeply value the talent pool that they already have. And based on that they create a strategic capability on another level. (Clear?)

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Now, let’s have a look at the “requirements of any competitive advantage”.

The first one is that the talent must be valuable to the organization. So that the opportunities that he is bringing to the firm can neutralize the threats in an organization’s environment.

Now, generally what happens is, suppose there is an expert in any particular domain, well, if he is working with any organization or as a freelancer, they work as a threat in any organization’s environment because he is a tough competition for other players.

But, if you bring that talent to your organization with you, then he works as a very valuable resource in your organization. Now, if I give you an example of a valuable resource, you can compare them to metals. What is the price of iron, and what is the price of gold?

Well, this is a difference in any valuable resource.

Although the work of both is equally important in their own place, if we see what is more valuable, then gold is more valuable.

Similarly, anyone who excels in the market with a niche skill set is highly valuable in his particular field.

Now, the resource must be rare enough as well among the company’s current and future competition.

Once again, let’s take an example of the same metals. Iron is found in abundance. But gold is very rare. It takes a lot of effort to get it.

Similarly, if there is a talented candidate in the market that is known for his skill sets, people appreciate his work and his portfolio, then that candidate is amongst the 1 in hundreds or 1 in thousands.

And if you succeed in acquiring such talents in your organization, then you shield your organization from the competitors, not only for today but in the future as well. Why? Because you are hiring a candidate that is already rare in the market. (Right?)

Now, when we talk about rare, it should be rare enough that no other competitors can imitate them easily. Because when a candidate is easily imitated, then at a certain point there will be more than enough candidates with the same skill sets, and that won’t remain rare.

Therefore, when a candidate has skill sets that cannot be imitated easily, then it is a competitive advantage for you.

Also, if the candidate is not substituted or replaceable, it works as a favorable competitive advantage for you… But, when a non-replaceable and valuable candidate comes to you, your organization should be worthy enough for him.

Then, if all the departments of the organization are not well-coordinated, or if they fail to provide an overall experience to the candidate, the candidate won’t take much time to switch to any other organization.

Therefore, it is very important that your organization is organized well so that you can draw maximum value from that talent for the benefit of your organization. You should also provide a worthwhile experience to the candidate for working in your organization… okay.

If you have any queries or comments, click the discussion button below the video and post there. This way, you will be able to connect to fellow learners and discuss the course. Also, Our Team will try to solve your queries.

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