Innovation and Exploration of Human Resource Management in Pharmaceutical Enterprises of the 21st Century

Abstract

Purpose - The 21st century marks an era of rapid advancements in digitization, informatization and globalization. Amidst a fast-evolving market economy, the lag in Human Resource Management (HRM) within pharmaceutical companies significantly hampers corporate growth. The primary objective of this paper is to explore the issue of HRM lag.
 Design/Methodology/Approach - Grounded in corporate management theory, this paper conducts a literature review coupled with HRM theory, taking a particular pharmaceutical company as a case study. It identifies six major issues present in pharmaceutical HRM: unclear functional positioning of the HRM department, insufficient staffing in the HR department, be short of effective talent cultivation mechanisms, incomplete salary management system, outdated performance incentive policies, and absence of modern information technology platform support. Therefore, six recommendations are proposed.
 Findings - Engaging professional HRM consultants for HR transformation, redefining the HR department’s functions, enhancing the professionalism of HR practitioners, establishing competitive salary and incentive mechanisms, advancing the application of modern information technology, and developing modern talent management models are innovations that can significantly bolster the comprehensive management capability of the enterprise.
 Research Implications - This study contributes to elevating the strategic positioning and management capability of the HR department, playing a pivotal role in shaping a high-value talent empowerment platform. It also provides a foundation for subsequent research by other scholars in this field.