New theories of human resource management call for more performance based rewards, involvement of senior management in setting HR policies and greater involvement from the workforce in policy formulation then before.
A research(Snell, Youdnt 1995) indicates the important of accounting for contingent factors in firm success. The study measured firm success as against the use of input and out control in setting HR practices. The study clearly indicated that the use of input control had a more positive impact on the firm’s performance. This indicated that manager and executives are aware of all or most of the factors that could affect the firm and set the policy accordingly. The study also indicated that the greater executive knowledge regarding contingent factors the better the performance of the firm. The focus strategy is one in which the company identifies a particular market segment and designs and markets the product specifically to that segment. The differentiation strategy is one in which the producer provides one unique value addition to his product which makes it more desirable for the customer.
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