Introduction - Strategic Human Resource Management (SHRM)
             Today the organizations operate in a very dynamic environment. The external and internal forces are constantly changing the rules of the game, to face these changes the organizations and businesses must develop new strategies to remain competitive. Changes in strategies determine the direction of each division within firm including HRM. Before we discuss about SHRM, it is necessary to understand the concept of Human Resource Management (HRM). In simple terms HRM is a variety of tasks associated with acquiring, training, developing, motivating, organizing and maintaining human employees in an organization. HRM is a managerial concept which deals wit personnel, hiring and firing employees, employee skill set and several other human related policies and procedures in an organizations. HRM plays a very vital role in all the operations of the organization. In recent years, HRM has changed profoundly and it will continue to change as the work needs of the organizations are constantly changing and becoming more complex. To meet these profound changes in the concept of HRM, organizations are recognizing the need of strategic approach to HRM. SHRM is not a new concept but it is an extension of the traditional HRM in the organizations.
             In today's powerful competitive and global marketplace, maintaining competitive advantage and becoming a low cost leader or a differentiator puts a heavy premium on having a highly committed or competent workforce. Competitive advantage lies not just in differentiating a product or service or in becoming the low cost leader but in also being able to tap the company's special skills or core competencies and rapidly responding to customer's needs and competitor's moves. In other words competitive advantage lies in management's ability to consolidate corporate-wide technologies and production skills into competencies that empower...