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SYSTEMIC REVIEW ON IMPACT OF STRATEGIC HUMAN RESOURCES MANAGEMENT ON ORGANIZATIONAL PERFORMANCE IN INSURANCE INDUSTRY
Abstract
Insurance industry shares an important place in the global economy and add value to the GDP of any country. The Strategic Human Resource Management functions have a key role on firm’s performance in the insurance sector and has the ability to change it fundamentally. SHRM has led to significant internal structural changes in the insurance industry. People of an organization are significant assets who are able to transform from tangible assets to optimum productive resources in order to satisfy the organizational requirements. This research examines the impact of SHRM functions on organizational performance of insurance companies in Sri Lanka as well as examining whether the impact of SHRM practices on organizational performance is contingent on organizations’ people factor. A multi-respondent survey of 29 licensed insurance companies was undertaken and data collected was subjected to correlation analysis as well as descriptive statistics, applying SPSS and AMOS statistical tools in pursuance of the study’s stated objectives. The stated study area was measured through a well administered questionnaire which was developed based on nine SHRM and performance dimensions, covering strategy, structure, systems, staff, skills, shared values/style, HR statistics, people strategy and organizational performance. The study is a literature-based survey.
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DOI: http://dx.doi.org/10.46827/ejhrms.v4i2.836
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