Abstract

The advent of globalization has led to heightened levels of competition and an ever-increasing need to identify more effective sources of competitive advantage. Currently, the variables that determine global competitiveness are more focused on service, innovation, speed and customization. Additionally, with greater access to capital and a preponderance of readily available technology for businesses of all sizes and scope, firms have to dig much deeper to find a way to distinguish themselves from their competitors. This search has led organizations to look inwardly at their strengths, and to examine the firm’s intangible resources such as Human Capital; which has the potential to offer a strategic advantage and can be exploited to capitalize on available opportunities.
Against this background, the purpose of this research is to explore the concept of Human Capital and how it can be leveraged for organizational competitiveness. The study employs qualitative methodology with a triangulated approach to data collection and data analysis to effectively explore how Human Capital has been strategically leveraged in a select set of top-performing companies in Jamaica that have remained competitively strong. Further, the study examines how human capital development is operationalized across each dimension of human capital to improve competitive advantage. The research is anchored on a strong theoretical foundation based on Human Capital Theory and the Resource-Based View of the Firm. Qualitative Data Analysis is applied using the NVIVO software to conduct a Thematic Factor Analysis as well as a Cross-case Analysis to identify main strategic initiatives and operational activities which can be used to develop an Integrated Human Capital Development (HCD) Framework and a model for Human Capital Development to drive organizational competitiveness.