STRATEGIC HUMAN CAPITAL PLANNING IN THE ASIAN DIGITAL ECONOMY: ALIGNING WORKFORCE DEVELOPMENT WITH BUSINESS OBJECTIVES
Keywords:
Strategic Human Capital Planning, Workforce Development, Business Objectives, Asian Digital Economy, Skill Mapping, Continuous Learning, Leadership Development, Talent Acquisition, Data-Driven Insights, Inclusivity, Diversity, Change Management, Adaptability.Abstract
This research delved into Strategic Human Capital Planning (SHCP) in the Asian Digital Economy, examining the alignment of workforce development with business objectives. A comprehensive analysis encompassed the dynamic landscape of the Asian digital sector. Skill mapping was conducted to understand workforce capabilities and identify gaps and future skill requirements. Continuous learning initiatives were embraced, promoting a culture of adaptability and innovation. Leadership development programs were instituted, emphasizing both technical and soft skills. Tailored talent acquisition strategies sought candidates with diverse skill sets, aligning with the region's cultural nuances. Technology, including data analytics, facilitated data-driven insights for informed decision-making. Inclusivity and diversity were promoted, recognizing their value in fostering innovation. Challenges were addressed through proactive change management, targeted skill development, cultural sensitivity training, and clear communication channels. Incentives for adaptability and collaborative decision-making further facilitated successful implementation. The study concluded with practical recommendations for businesses navigating the complexities of the Asian Digital Economy, urging a strategic focus on human capital planning.
References
Abu-Bader, S. H. (2021). Using statistical methods in social science research: With a complete SPSS guide. Oxford University Press, USA.
Ahmad, A., Desouza, K. C., Maynard, S. B., Naseer, H., & Baskerville, R. L. (2020). How integration of cyber security management and incident response enables organizational learning. Journal of the Association for Information Science and Technology, 71(8), 939-953.
Ahmad, S. (2015). Green human resource management: Policies and practices. Cogent business & management, 2(1), 1030817.
Almunawar, M. N., Islam, M. Z., & de Pablos, P. O. (Eds.). (2022). Digital Transformation Management: Challenges and Futures in the Asian Digital Economy. Routledge.
Amrutha, V. N., & Geetha, S. N. (2020). A systematic review of green human resource management: implications for social sustainability. Journal of Cleaner Production, 247, 119131.
Awad, A., Trenfield, S. J., Pollard, T. D., Ong, J. J., Elbadawi, M., McCoubrey, L. E., ... & Basit, A. W. (2021). Connected healthcare: Improving patient care using digital health technologies. Advanced Drug Delivery Reviews, 178, 113958.
Bailey, C., Mankin, D., Kelliher, C., & Garavan, T. (2018). Strategic human resource management. Oxford University Press.
Basu, D., Miroshnik, V., Basu, D., & Miroshnik, V. (2021). Japanese Management System. Ethics, Morality, and Business: The Development of Modern Economic Systems, Volume II: Modern Civilizations, 139-171.
BUTKENOVA, A. K. (2018). Strategic planning of human capital assets at industrial enterprises. Revista ESPACIOS, 39(04).
CASAZZA, R., & Ratano, F. (2020). Investigating sharing economy services: how operations are configured in the mobility industry. Examining possible lean principles application and operational reaction to COVID-19.
Chakraborty, D., & Biswas, W. (2019). Evaluating the impact of human resource planning programs on addressing the strategic goal of the firm: An organizational perspective. Journal of Advances in Management Research, 16(5), 659-682.
Changwong, K., Sukkamart, A., & Sisan, B. (2018). Critical thinking skill development: Analysis of a new learning management model for Thai high schools. Journal of International Studies, 11(2).
Dahlman, C., Mealy, S., & Wermelinger, M. (2016). We are harnessing the digital economy for developing countries.
De Geus, A. (2020). aRchItecting sustaINaBLe coMpetItIve edGe: RoLe of BoaRds. Role of Boards: Building Sustainable Competitive Edge, 59.
Fountaine, T., McCarthy, B., & Saleh, T. (2019). Building the AI-powered organization. Harvard Business Review, 97(4), 62-73.
Gervasi, M. (2016). East-Commerce: China e-commerce and the Internet of Things. John Wiley & Sons.
Guetterman, T. C., Fetters, M. D., & Creswell, J. W. (2015). Integrating quantitative and qualitative results in health science mixed methods research through joint displays. The Annals of Family Medicine, 13(6), 554-561.
Hecker, I., & Loprest, P. (2019). Foundational Digital Skills for Career Progress. Urban Institute.
Hemmert, M. (2017). The evolution of tiger management: Korean companies in global competition. Routledge.
Hicks, K. (2016). Construct validation of strategic alignment in learning and talent development. Performance Improvement Quarterly, 28(4), 71-89.
Holbeche, L. (2022). Aligning human resources and business strategy. Routledge.
Javidan, M., Dorfman, P. W., De Luque, M. S., & House, R. J. (2016). In the eye of the beholder: Cross-cultural lessons in leadership from Project GLOBE. In Readings and cases in international human resource management (pp. 119-154). Routledge.
Khilji, S. E., Tarique, I., & Schuler, R. S. (2015). Incorporating the macro view in global talent management. Human Resource Management Review, 25(3), 236-248.
Kiron, D., Kane, G. C., Palmer, D., Phillips, A. N., & Buckley, N. (2016). Aligning the organization for its digital future. MIT Sloan management review, 58(1).
Laidlaw, E. (2021). Privacy and cybersecurity in digital trade: The challenge of cross border data flows. Available at SSRN 3790936.
Maharjan, M. P., & Sekiguchi, T. (2016). Human resource management practices at foreign-affiliated companies in least-developed regions: US and Japanese Companies in Nepal. Asian Business & Management, 15, 137-164.
Mandloi, N. (2015). Talent management: A strategic approach towards growth in IT industry. SAMVAD, 8.
Mazumder, M. (2015). Aligning IT strategy with business strategy: A case study of global IT consultancy firms.
Mockaitis, A. I., Zander, L., & De Cieri, H. (2018). The benefits of global teams for international organizations: HR implications. The International Journal of Human Resource Management, 29(14), 2137-2158.
Morrow, M. E. (2023). Succession Planning: Addressing the Lack of Internal Executive Leadership Preparation Within Higher Education Institutions (Doctoral dissertation, Grand Canyon University).
Mukherjee, S., & Narang, D. (2023). Digital economy and work-from-home: The rise of home offices amidst the COVID-19 outbreak in India. Journal of the Knowledge Economy, 14(2), 924-945.
Muzam, J. (2023). The challenges of the modern economy on the competencies of knowledge workers. Journal of the Knowledge Economy, 14(2), 1635-1671.
Ono, H. (2018). Why do the Japanese work long hours? Japan labor issues, 2(5), 35-49.
Persaud, A. (2021). Critical competencies for prominent data analytics professions: A multimethod study. Information Technology & People, 34(1), 178-203.
Pillai, R., & Sivathanu, B. (2020). Adoption of artificial intelligence (AI) for talent acquisition in IT/ITeS organizations. Benchmarking: An International Journal, 27(9), 2599-2629.
Pînzaru, F., Zbuchea, A., & Viţelar, A. (2019). Digital transformation trends reshaping companies. In Proceedings of the International Conference on Business Excellence (Vol. 13, No. 1, pp. 635-646).
Pucik, V., Evans, P., Bjorkman, I., & Jhaveri, K. (2016). The global challenge: International human resource management. SAGE Publications.
Rasoulkhani, K., Brannen, L., Zhu, J., Mostafavi, A., Jaselskis, E., Stoa, R., ... & Chowdhury, S. (2020). Establishing a future-proofing framework for infrastructure projects to adapt to complex regulatory landscapes proactively. Journal of Management in Engineering, 36(4), 04020032.
Schäfer, P., Brubacher, C., & Hwang, M. J. (2018). Localized Mobility: A Case Study Examining its Practical Applicability in Sejong City, South Korea. 공공사회연구, 8(1), 162-204.
Solanki, S. (2019). A Study of Cultural Diversity in IT Companies in INDIA (Doctoral dissertation, Faculty of Commerce and Management) To the University of Kota By Shalu Solanki Under the Supervision of Dr. Ummed Singh Department of Commerce and Management, University of Kota, Kota).
Spector, P. E., Cooper, C. L., Poelmans, S., Allen, T. D., O’driscoll, M., Sanchez, J. I., ... & Yu, S. (2017). A cross-national comparative study of work-family stressors, working hours, and well-being: China and Latin America versus the Anglo world. International Human Resource Management: From Cross-Cultural Management to Managing a Diverse Workforce, 257-280.
Teece, D., Peteraf, M., & Leih, S. (2016). Dynamic capabilities and organizational agility: Risk, uncertainty, and strategy in the innovation economy. California Management Review, 58(4), 13-35.
Westerman, G., Bonnet, D., & McAfee, A. (2014). Leading digital: Turning technology into business transformation. Harvard Business Press.
Xue, L. (2022). Designing effective augmented reality platforms to enhance consumer shopping experiences (Doctoral dissertation, Loughborough University).
Downloads
Published
Issue
Section
License
Copyright (c) 2023 INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE © 2023 by Adisam Publisher is licensed under CC BY-SA 4.0
