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A Study on Conceptualization of Stakeholder Oriented Strategic HRM System

Sang Kyun Ha1 · Yong Seung Park2

1 Lecturer, Business Administration, Kyung Hee University, 2 Professor, Business Administration, Kyung Hee University

Published: August 2023 · Vol. 27 No. 3 · pp. 95-120

DOI: https://doi.org/10.17287/kbr.2023.27.3.95

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Abstract

The purpose of this study is to establish the concept of the strategic human resource management system for stakeholder-oriented management paradigm. The purpose of stakeholder- oriented management paradigm is to coexist and collaborate among stakeholders such as employees, partners, communities, and the natural environment, including shareholders. The characteristics of stakeholder-oriented management strategy can be called as an integrated model of management strategy that genuinely incorporates CSR activities with the company’s strategic management system. Accordingly, in the contemporary field of Management studies, it is essential to transform the human resource management system in order to support stakeholder-oriented management paradigm. It is because to promote changes in employee attitudes and values through the strategic human resource management system aligned with stakeholder-oriented management will be essential for the genuine practice of the new management paradigm. The stakeholder-oriented strategic human resource management system is vertically aligned with the values aimed at stakeholder-oriented management. In addition, it is a system in which each function of human resource management, such as recruitment and selection, development, compensation, performance management, job design, and labor-management relations, are horizontally aligned.
Keywords: stakeholder management theorypurpose of businessbusiness ethicsbusiness strategystrategic human resource management