How do human resources influence a firm's performance? How does strategic HR planning benefit a firm?

What will be an ideal response?

Answer: Companies compete for human resources, and those that are capable of attracting, retaining, and motivating good employees are more likely to achieve and sustain a competitive advantage. Strategic HR planning helps a company be proactive. It permits explicit communication of company goals. It stimulates critical thinking and examination of corporate assumptions. It identifies "gaps" between the current situation and the future vision of the company, and it encourages line management participation in HR functions. It enhances the identification of HR constraints and opportunities, and it helps create common bonds across the organization.