Human resource management for startup business

Abstract

The government of Thailand has endorsed “Thailand 4.0”as its new ploy and economic model for country development driven by innovation with the main focus on the importance and support to the startup business effectively. As a result, the startups are becoming fully overwhelming attention with continuously unprecedented growth. At present, many startup businesses are facing a potential future skills shortage in terms of talents, creativity, high-quality skills & services including capabilities in advanced technology. For this reason, human resource managers need to change to the use of proactive strategies in order to upgrade employee performance and its competencies to cope with the market demand in startup businesses and be able to go strongly in international business growth. This article is aim to study on the academic documents, relevant literatures and to combine its knowledge about Human Resource Management for Startup Business. Starting from the explanation of important core pillars of the Startup Businesses, Sources of Finance from Investors, the Difference between SME and Startup and Human Resource Management for Startup Business. The right bridge of proactive strategies is enacted into the implementation plan either in Recruitment and Selection screening for highly-skilled employees, Human Resource Development for self-learning and creative. In particular, Performance Appraisal as well as building inspiration according to individual needs are necessary for Employee Retention. Moreover, popular software and/or relevant applications using widely-spread in startups are mentioned as examples, too. In practical concrete, it is applicable and useful for human resource managers’ determination.