Journal
INTERNATIONAL JOURNAL OF HUMAN RESOURCE MANAGEMENT
Volume 23, Issue 4, Pages 808-825Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/09585192.2011.561236
Keywords
business strategy; human capital; organisation commitment to employees; profitability; service SMEs
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We investigate the relationship between human resources (HR) and superior firm performance, as well as the role of business strategy as a key mediating factor, for small- and medium-sized enterprises (SMEs) in the UK Tourism Hospitality and Leisure (THL) sector. Our results suggest that high-performing SMEs in the THL sector are managed by more experienced entrepreneurs. We also find that more profitable SMEs combine a highly skilled workforce with technological and know-how-based firm differentiation strategies, and/or product differentiation strategies, which are based on quality of service and personal attention to customers, alongside generous compensation and attention to employee development.
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