Human resources and SME performance in services: empirical evidence from the UK
- Publication Type:
- Journal Article
- International Journal of Human Resource Management, 2012, 23 (4), pp. 808 - 825
- Issue Date:
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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. © 2012 Copyright Taylor and Francis Group, LLC.
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