Theorizing strategic human resource development: Combining resource-based view, human capital theory, and contingency theory

This paper is to explore potential new underlying theory of strategic human resource development (HRD) based on critiques of current theoretical foundations of HRD and major approaches/perspectives of Strategic HRD. It offers a new definition and model of Strategic HRD based on combining the resource-based view of firm, human capital theory, and contingency theory; with linkage to financial performance and competitiveness. Proposed new model includes five strategic approaches such as talent acquisition, learning organization, organization development, performance development, and leadership development; and two-stage strategic objectives: financial performances and sustainable competitive advantages.