INTRODUCTION Human resource management can be defined as a strategic approach for effective management of their resources and people. The main aim of HRM is to maximise and increase employees performance for achieving determined goals. This present essay will describe and show the meaning and importance of resource based review which helps organisations of UK to take competitive advantages. Human resource practices also make them able to take competitive advantages and their organisational growth. Best practice which organisations of UK use are employee engagement and reward employees for their better performance. These practices are being used by organisations for motivating them and increasing productivity (Leroy and et.al., 2018). This present essay will also show about the challenges and threats which UK companies are now facing. Challenges are labour turnover and advanced technologies which creates barrier in their growth. Adaption of “Resource based view” by organisations to gain competitive advantages Resource based view can be defined as a framework and a model that focus and determineits strategic resources in order to competitive and superior advantages to an organisation. This RBV model includes various types of tangible & intangible resources that helps organisations like Toyota, Google, Tesco to achieve competitive advantages. Resources included in resource based view includes processes, strategies, knowledge, informations etc. When a HR uses all these resources together then it creates business capabilities. It also gives a sustainable competitive advantages to companies. There are some advantages and strategies that are not being imitated by competitorssuch as sustainability which can be achieved by organisations with the help of valuable resources (Bromiley and Rau, 2016). Employees and team members are the best resources for any type of organisation. With selecting and hiring the right and potential people on deck, manager feel confident signing off on incoming projects. Utilization of other resources like finance, skills in an effective manner, can not be possible without the right human resource. Due to advanced technologies, companies have to suffer with changes and to keep up with these changes, companies require to be on high alert for their resources & capabilities that can give them a competitive advantages. The resource based strategy is an effective theory by which companies can make themselves able to analyse diversified contributions which come from different quarters.
Most important and appropriate example of Toyota auto mobile that focus on utilizing its resources & capabilities in order to raise its quality of services and products. It is known and pioneered a lean production system that proved difficult to replicate. Further, it introduced with other management approach and practice which is known as just in time manufacturing that helps them in reducing its set up time (Kull, Mena and Korschun, 2016). Its best strategy of lower pricing and long lasting efficiency rapidly achieved popularity or its became popular among people or customers. This model and strategy helped Toyota to retain its consumers' loyalty. Example of Honda auto mobile company who is a core competences in power trains and engines which has given it a long term competitive advantages in cars, generator businesses etc. Resource based view has various characteristics and benefits which make organisations to take a competitive advantages. Valuable resources and the resources which have the ability to bring value to an organisation then they can become a source of competitive advantages. Resources that big companies like Google, Tesco, Sainsbury's uses they should not be able to be replaced by any other valuable resources. If 2 resources have the same ability and can be implement the same strategy then it can not be the source of competitive advantages for organisations. So it should not be substituted and replaceable (Cohen, 2017). Good practices by organisations There are various good practices which are being adopted by big and reputed companies in order to make them able to being in a competition and a market leaders. Good practices includesengageworkers,staycommitted,teamefforts,healthyworkplace,effective communication etc. Examples of companies who use good practices are Google and Virgin. Employee engagement is the fuel and important key element of organisations. These companies are prime examples of employees engagement reaping real benefits. The main focus on creating a culture as they want. The main aspect of their creating culture is transparency. By that transparency, workers of Google feel empowered as it focuses on collaboration and encouraging creativity. By creating a culture of freedom and transparency, google make them able to take competitive advantages as employees feel engaged and respected when the company do not hide any agenda and informations fromthem. So it can be said that, companies who focus on the transparency engaging employees, they are more likely to take competitive advantages and sustainability.
Other example of John Lewis Partnership who also focus on its people and employees engagement as a good practice. By calling them partners, the company express that there is a shared responsibilities for their customers. They more focus on involving their partners in their decision making process and solutions which empower thento createthe best customer experience (Mone and London, 2018). It can be said that employee who are invited to be involved in activities and processes,they feel empowered & they are more likely to take personal responsibility. Manager and partners know the importance of employee engagement which can make a difference, so they try to fulfil their all the needs which make them able to stay in the company for the long run. Virgin group Ltd multi industry organisation more concentrate on their employees and people. They listen to their employees in order to make them feel that they are being valued. They listen to their views and opinions and also take care of their ideas which make them able to create an innovative workforce and employee strong relationship. Listening is at the heart of engagement. It is very important to listen and take care of views because it less require of leadership. It is beneficial not only for employer but also for employees as they feel valued and Hence they want to give their best which increases their sales and productivity. South West Airlines' main purpose is to connect with people so they not only see themselves as transporter if people but also as enablers who try to help people in different ways they care about. Their clear & strong purpose connects them emotionally with workers and it strongly help them in engaging (Albrecht and et.al., 2015). They believe that it is not only enough to do a job but it is also important to make a difference in order to create and contribute something bigger than themselves. So it can be said that for South West Airlines their purpose is becoming more and more important to workers. Reward efforts is other main important practice by organisations. There are various organisations who strongly believe that reward efforts to employees is the best and important practice which supported and helped them in achieving competitive advantages and their success. They feel that when they reward employees for their better performance then employees feel valued and respected, It tend to stay and retain them in an organisation for the long run. With the help of this practice, organisations make them able to increase their sales and reputation. Motivated and valued employees focus on the work and also try to achieve organisational goals
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which is important for them. There are some examples of organisations who provide reward to their employees for their better performance (De Gieter and Hofmans, 2015). Exelon corporation is known as the best energy producer who has introduced its new and innovative long term performance share scheme. It has made some financial and no-financial performance goals. In this scheme it provides rewards executives in order to meet non-financial performance goals. Its non-financial performance goals include safety targets and goals engaging stakeholders which help them in shaping the company's public policy position. Other example of FedEx multinational courier delivery and research and investing informationcompany. It believes that its success relies upon way of performing its employees. This company discovered that employees, who are being well treated they are more efficient and top producers that lead in positive growth to the company. It developed its people service profit philosophy in 1973 that denote and shows the excellent services & care of its employees. For better satisfying them it focus on providing benefits and rewards to their employees for their better performance. It is the best way of motivating them as it increases their morale. For knowing their needs and demands it tries to track its employees satisfaction with its annual survey feedback actions. The main aim of doing the survey and of this programme is to address the problems of employees and their suggestions to resolve them and then take corrective actions. Eileen fisher is a clothing retailer who believes that best customers services is the core reason of its increasing selling and competitive advantages. Customers services are being provide by its employees. Employees can provide the best services to their customers only when the company fulfil their needs and make them feel respected. For solving employees problems and for satisfying their demands, Eileen Fisher provides generous employees discount & monetary clothing allowances. Employees feel and enjoy their annual bonuses as equal to their 4 weeks of pay in a month. Happy and motivated employees are more likely to support the company in order to provide better customer services. AMX is an American automation and control company who focuses on promoting communication and trust throughout its members of staff. It also believes in the best customers services, It can be possible when the company focus on solving all the problems and issues of its customers. Most of the employees have the problem regarding pay and benefits. So it tries to provide the pay and rewards for their excellent performance. It does not only provide financial
benefits and rewards but also provide non financial rewards including praise, appreciation etc. When employer rewards them and praise infront of other employees then they feel motivated and valued. It motivates them towards achieving their determined goals. Two major threats which UK organisations are facing TherearevariousproblemsandthreatswhichorganisationsofUKarefacing environmental damage or advanced technologies and labour turnover. Both problems are increasing rapidly. There are various reasons that are the reasons of these problems. Businesses of UK should consider and address all these problems in order to become market leader and for taking competitive advantages. Artificial intelligence is the great example of advanced technology. Increasing uses of artificial intelligence and other machineries are big threat for businesses and employees. It is the main reason of mankind's demise. Those companies who uses these machines rather than man kind and employees that time employees feel demotivated and it also becomes the reason of unemployment. Increasing uses of digital technology is also creating a threat for companies of UK like Tesco, Toyota, Google, Eileen fisher etc. One example of Tesco bank who is suffering from data security threat and problem. Digital technology is increasing risk of data security because in this technology a vast amount of data are being collected. This data is related to their employeesand can be private informations which becomes difficult to keep it safe (Jadhav, 2016). Vast amount of private data and informations is going on the hands of terrorists and foreign enemies of Tesco bank. Modern technologies and excessive use of mobiles distracts employees and employers from their work. Due to this, they have to face difficulties like errors and mistakes in their work. It also dissatisfied customers as they do not provide them the best quality services and products. Sometimes employees do not have the proper knowledge of using technologies. They find difficulties to understand machines and new devices by which they need to require interact on daily basis. Workers of companies spend their lot of time in trying to keep up with the numbers of e mails that they get and need to require read and some of that e mails require to take actions immediately. Sometimes customers al;so can not understand the difference between real and edited image when they go and prefer online shopping. Some companies can easily edit their pictures and videos which can easily influence customers. Due to those companies, other reputed
companies also have to face with the problems of customers trust. Customers do not believe easily on their photographs. Due to digital and advanced technology, employees feel job insecurity. In modern and digital world, most of the works are being doneand performed via the internet. It is also decreasing face to face interaction which becomes the reason of interpersonal conflicts. Most of the companies do not value or less value of their employees and human beings due to increasing uses of computers and technologies (Wang and Hou, 2015). Increased dependency on mobiles, calculators & spell checker is reducing the creativity of employees. Employees do not have the proper knowledge of maths and with the help of this tools they make themselves able to do their job. It decreases and demotivate other employees which also become the problem of labour turnover. AMX is an American manufacturer of videos switching and control devices. For providing the best services to the customers it requires skilled and potential candidates and employees. Due to unemployment rates and labour turnover it is facing the problem in finding the appropriate and potential workforce. It is decreasing its sales and productivity. Reasons of employees turnover are retirement, death, unsuitability and strategies changes. It increases this company's recruitment and training cost. Loss of productivity is other main problem which this company face due to labour turnover.For solving this problem it should provide financial and non financial rewards and should also focus on providing healthy working environment. Employees leave organisation for the variety of reasons such as unhealthy working environment and unequal and below average pay. South West Airlines is focusing on its employees but also facing the problem of staff turnover because of below average pay. When employees feel that the company is not providing them the enough pay according to their performance. Existing employees and higher level of staff turnover cost their business. They have to invest in hiring and training to new employees. When existing employees leave the organisation then it decrease the positive image of the company. Due to this, they face the difficulties in finding and hiring new and skilled employees. Hospitality sectors and hotel of UK are also facing this problem. This problem and challenge is rapidly increasing for hospitality sector. It impact on their overall business performance (Henderson, Selwyn and Aston, 2017). When potential and skilled employees leave the organisation and less experienced employees retained then the quality of business and
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services provided by them to customers decreases. Once customers relationship are compromised then overall business conditions put them at risk. A high retention rate lead and result a negative reputation as customers and new employees try to find out the reason of existing employees of choosing to leave the company. Due to Labour turnover and advanced technology, individual's and staff productivity may slow down. When the company hire new employees then they take longer and time to complete the given tasks as compare to existing employees. Due to this, the continuity of services which companies provide to thei5r customers also get affected. Hospitality sector companies and hotels depend upon seasonable and part time employees that time they find difficulties for hiring candidates who want to do part time job and the person who stick around for the long run. Many companies are facing this threat and challenge due to lack of flexibility and unhealthy working environment. Hospitality sector's companies main purpose is to provide the best services and best working environment to their employees and customers. Kit has been statedthat63%ofhospitalityworkershaveexperiencedsexualharassmentonthejob. Discrimination and harassment is the big reason in hospitality sector. It is also the big reason to make anyone want to leave. For solving this type of problems, Organisations of UK should focus ondeveloping a strong culture. They should also ask from their employees as how they are feeling about their working environment. Tesco is a British multinational groceries and retailer who is also facing staff retention problem,. The main reason of this problem in this company is ineffective communication. It is very important to communicate clearly all the needs and expectations between employees and higher management. HR and executives of Tesco do not focus on communication and they do not communicate their policies among employees that time workers feel demotivated and disengaged. Engagement play an important role in decreasing staff turnover. It is also important for them to ensure that the communication which they are using is a two way street. Staff should also be given the liberty and opportunity to give suggestions and feedbacks to upper management (Huang and Zhang, 2017). So it can be said that labour turnover and increasing use of digital technologies are the main problem and threat for UK organisations. They should require to focus on solving these problems and decreasing this threat in order to take competitive advantages.
CONCLUSION From the above essay it has been concluded that, resource based view played an important role as it helped organisations to achieve competitive advantages and organisational performance. For better performance and being in a competition Companies of UK used various HR practices such as employees engagement or team work and reward to employees. Employees feel motivated when companies provided them rewards for their better performance in front of other employees. Due to advanced and innovation, organisations of UK faced various problems and challenges. The main 2 problems which companies faced are labour turnover and increasing use of digital technology which created problem of data security, insecurity of job among employees. Due to these challenges and threats, companies of UK face another workplace problems like interpersonal conflicts, dissatisfaction among employees. It has direct impact on its sales and productivity.
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