A comparative study of strategic human resource management practices by linking people with strategic needs of business

The purpose of this research is to test and contrast whether or not strategic human resource management (SHRM) can be used to predict economic development i.e., efficiency and organizational development of two real estate company located in Dhaka, Bangladesh. Convenience sampling method was applied to obtain data from 100 employees. The study reveals no relationship of SHRM with economic development and organizational development. HR policies is negatively related with economic development while no relationship with organizational development in case of Oriental Ltd (OL) while for Suvastu Ltd (SL), it is negatively related with organizational development but has no relationship with economic development. Correspondingly, HR process is negatively related with economic development but positively related with organizational development in case of OL while HR processes have no relationship in case of SL. HR development has no relationship with economic development and organizational development for both the firms. HR practices have less or no strategic significance for the given organizations. HR outsourcing has no relationship with economic development and organizational development either. The findings suggest that using these dimensions may provide organizations with the potential to improve existing level of efficiency and development of the firms.