Strategic HRM (or SHRM) is the most widely employed principal HRM theory, which relates employee power and resources with the targets and strategic goals of any organization. This theory generally states that organizational performance is dependent upon a few important factors like employee skills, dedication, productivity and commitment, and any organizational goal or target is usually achieved through the combination of these factors.
This is a less prevalently employed theory of HRM, which states that organizational performance is significantly dependent upon the knowledge of its workforce. In practical scenarios, knowledge-management-based HRM theories work towards simply motivating employees to share information with each other, so that a knowledge-sharing network can be developed for the organization. Actually, knowledge management is itself a subject of business management which promotes the idea of sharing available knowledge within workforce to obtain greater productivity.
The theory of employee training and development (also called human resource development) signifies the concept of increasing employee skills through group-based training and development initiatives. This theory of HRM finds its origin in expertise-based industries like manufacturing, in which employees' productivity is directly related to the level of skills they possess. This theory of HRM is among the widely implemented theories, and is often seen practiced through internal employee training programs run by businesses.
This theory deals with the idea of organizational culture development through understanding and dealing with the behavioral responses of the workforce. The term "organizational culture" can be generally defined as the set of values and practices for which the organization is known. According to the theory, it is a significant contributor in determining the efficiency and effectiveness of the workforce. Also, the principles relating organizational culture to human resources indicate that the culture has its effects on the way employees react to organizational decisions.