Pakistan has also created new challenges. Besides many others, one of the aspects
included in these new standards is that of the specific standard of quality required in
services and products they offer. This definitely relates to performance of the company
and its employees. Quality in simple terms is performance and besides the technical
quality tests of products; customers and end users are a decisive factor both in terms of
services and products quality.
1.2.4. Importance of study for Strategic HR planning and Development
Under given circumstances, a point worth pondering is that why would the employees
work harder to further improve their performance with the existing package offered to
them? Normally, for the purpose a quick fix is sought and that is to increase their salary.
But with the advent of new competitors in the market, different organizations start
offering competitive salaries to attract those competent employees and at the same time
help retain the competent employees within the organization, hence, increasing demand
for such workers. Such types of quick fixes are also used to act as an impetus to motivate
employees to work harder at their current positions.
Now the question arises as to how competitive those salaries can be? And even if
these are competitive enough, then for how long can these salaries remain competitive
when the market becomes open to international competition? The other question that
arises is that up to what extent the organization can afford increase in financial
implication of the retention strategy in order to attract or retain good employees at present
and in future?
The deliberation reveals that a company can remain competitive in terms of
salary, only among all those companies having the same financial health as it own.
Therefore, no matter how much competitive salary a company offers, it can only attract
those employees whose competency level falls within that salary range as fixed by that
specific level of companies. This means that for the development of the organization it
has to start with HR available within its financial reach and develop their competencies
by creating an environment of collective growth for the organization and individuals.