The Nexus of Strategic Human Resource Management and Contemporary Business Survival in Nigeria

Abstract

This study empirically investigates how human resource management affects the success and survival of modern businesses. The study employed a descriptive survey design method. 133 workers at fast food restaurants in Asaba, Delta State, were asked to complete a standardized questionnaire on a Likert scale. Statistical analyses, including descriptive statistics using the One-SAMPLE Test, were conducted to assess the nature of the relationship between human resource management functions and the survival and success of contemporary organizations. The study's conclusions show a strong positive relationship between organizational performance, human resource planning, and how long modern businesses last. Similarly, the study concludes that a human-centric HRM approach of HRM planning is necessary in the modern workplace to guarantee complete employee engagement and the best talent retention in modern business. This is crucial since it increases the organization's overall sustainability, productivity, and survivability. As a result, companies should make sure that human-centered HR practices are used. These findings suggest that enhanced employee performance and the survival of contemporary businesses are closely related to human resource planning role of human resource management. The study's conclusions indicate that human resource management techniques, human resource planning, have the potential to fundamentally change the workplace by enhancing worker performance, ensuring the survival of modern companies, and significantly raising employee engagement and productivity while retaining top talent.