The Role of Strategic Human Resource Management in Enhancing Entrepreneurial Success in Startups in Ojo LGA, Lagos State
Abstract
This study examined the role of strategic human resource management on entrepreneurial success among startups in Lagos State, Nigeria. The study was motivated by the high rate of startup failure despite increasing entrepreneurial activities in the state. Specifically, it investigated the effects of talent acquisition strategies, employee training and development, and employee retention strategies on entrepreneurial success and organisational sustainability. A descriptive survey research design was adopted, and data were collected through a structured questionnaire administered to employees and managers of selected startups. Of the 141 P-ISSN 2695-186X questionnaires distributed, 104 were completed and found suitable for analysis. Descriptive statistics and regression analysis, using the Statistical Package for the Social Sciences , were employed to analyze the data and test the hypotheses. The findings revealed that talent acquisition strategies significantly influence entrepreneurial success (β = -0.707, t = -12.220, .000, p < 0.05), leading to the rejection of the null hypothesis. Employee training and development also had a significant positive effect on entrepreneurial performance (β = 1.546, t = 8.969, .000, p < 0.05). Similarly, employee retention strategies significantly enhanced organisational sustainability (β = 0.385, t = 4.973, .000, p < 0.05). Overall, the study established that SHRM practices contribute significantly to entrepreneurial success by improving employee capability, innovation, productivity, and long-term sustainability. The study concluded that effective SHRM is essential for startup growth and competitiveness. It recommended that startup founders institutionalize strategic HR practices, prioritize continuous employee development, and implement effective retention strategies to achieve sustainable entrepreneurial success.
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