Conclusion
The results obtained from this study indicate that strategic HRM is moderately practiced by companies operating in the Nigerian insurance industry and that performance symbolized by growth rate of revenue,
financial strength, return on equity, return on assets and profitability is reasonably enhanced by six out of the nine strategic HRM practices tested. The study, to this extent,
has provided evidence for the value-added by strategic HRM through the integration of HR function within the organization’s key strategies and operations. Be that as it may,
questions need to be asked on the results of moderate levels of involvement in Strategic HRM practices as against high levels reported elsewhere.
Can this be simply passed off as problems of new concept, data specification, procedures or even interpretation?
Can this result even be attributed to factors other than strategic HRM practices and organizational climate? These are questions that can be resolved under different settings.
However, managers everywhere face the same challenges of tackling complex problems with limited resources, determining priorities, motivating staff, initiating change and demonstrating measurable results.
Strategic HRM in concept and practice is about managers standing in the front lines to tackle these challenges to achieve organizational objectives.
We should be reminded that people may know everything about line management devolvement but not practice it;
people may know the virtues of employee participation but not apply it. It is therefore, down to commitment as the missing link.
To achieve employee commitment, the weather of the work place has to be supportive to lead to and sustain staff motivation and high performance (Litwin and Stringer, 1968; Stringer, 2002).
No doubt, Strategic HRM practices identified in this study should play this role creditably well and to act as catalyst,
organizations should consider the benefits of integrating their HR function with its overall strategies and operations.