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The USV Annals

of Economics and Public Administration Volume 15, Issue 1(21),

2015

INKING HUMAN RESOURCES STRATEGY WITH KNOWLEDGE MANAGEMENT STRATEGY TO DRIVE MEASURABLE RESULTS

Otilia‐Maria BORDEIANU

Stefan cel Mare University of Suceava, Romania

otilia@v.ro

Simona BUTA

Stefan cel Mare University of Suceava, Romania

simonab@v.ro

Abstract:

Today the human resources are seen as a very valuable asset to achieve long-term performance. Today we understand that every employee is required to learn throughout life, so to acquire new knowledge, to process such knowledge and possibly disseminate expertise with other members of the organization. The theory on human resources in various organizations has changed over time; recommendations have become more numerous, but there is no consensus on the subject. In other words, the permanent change which defines the competitive environment of business remains a type of constant when analysing the efficiency of human resources within companies; inter-individual relations (formal and informal) and the values to which each employee relates remains crucial for any theoretical construction in this area. Principles and strategies applied by organizations yesterday could prove their inefficiency today; human resource strategies in organizations today should include a separate subcomponent, we believe, i.e. knowledge management (KM) strategy. This is because the competitive advantage obtained or maintained by the company depends today, in large proportion, on the type, quality and value of knowledge possessed by the organization. Therefore, organizational strategy and thus the strategy of acquisition, developing and rewarding of human resources (HR) should take into account this reality from the global environment. Moreover, in the current knowledge-driven economy, organizations must know how to develop and implement knowledge-based strategies to drive measurable business results. The goal of this paper is to describe a potential relation between the overall company strategy, HR strategy and KM strategy.

Key words: human resources, human resources management, knowledge management, knowledge economy, strategy

JEL classification: M10, M12.

1. INTRODUCTION

In the current economy there is a new approach to human resource management, so as to be able to cope with many types of challenges.

The most relevant resources within the knowledge economies are: knowledge, intellectual capital and time (Tottderdill, 2002). Being the only source that has the ability to think and implement new ideas, people occupies the central position within organisations. People are considered the only true source of sustainable competitive advantage. Since knowledge belong to the employees, any activity of the employees will affect the knowledge management. HRM could lead the development of well-rounded KM strategies to add value. HRM face new challenges: to recruit and retain top talent, and to embrace a new skill set to add more value. The HR department has a very crucial and vital role to play in not just its formation but also in giving KM its shape. The new type of human resource management (HRM), evidenced in knowledge-based firms has several characteristics that differ from classic human resource management (Todoruț et al, 2011). First, the focus in addressing human resources is related to amplification and efficient treatment of knowledge. There is also a need of intensive differentiation of approaches, decisions, actions and behaviour of specialists in human resources management, to be able to effectively consider the heterogeneity of human resources involved in the organization, their characteristics, motivations and expectations. HR activities must be designed and implemented in a flexible way, constantly changing content and functions, in accordance with endogenous and exogenous evolutions of the

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