Goran Pavlović – Metropolitan University, Tadeuša Košćuška 63, 11000 Belgrade, Serbia
Srdjan Milićević – Metropolitan University, Tadeuša Košćuška 63, 11000 Belgrade, Serbia

Keywords:
Human capital;
Strategic management;
Banking sector;
Competitive advantage

DOI: https://doi.org/10.31410/EMAN.S.P.2023.151

Abstract: Resources that are rare, valuable, difficult to imitate and substitute are a key factor of competitive advantage. Human capital, which includes unique knowledge, skills, abilities and employee experiences, is one of the most important resources of modern organizations and a key constituent of intellectual capital. Because the competition in the banking sector of the Re­public of Serbia is increasingly pronounced, as evidenced by the trend of fre­quent mergers and acquisitions of banks, it is clear that human capital is of particular importance, due to the fact that the performance of banking op­erations requires unique knowledge and competencies, as well as agility and willingness of employees to continuously learn and develop. Banks treat in­vestment in human capital as a strategic process that can provide long-term benefits and sustainable competitive advantage, especially when it comes to financial performance. Therefore, creating a competitive advantage for banks requires a strategic approach to human resource management, which will enable the development, improvement and use of human capital. Taking into account the above, the main goal of this paper is to examine the impor­tance of human capital, as a strategic factor, for bank performances in the Re­public of Serbia.

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7th International Scientific Conference – EMAN 2023 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 23, 2023, SELECTED PAPERS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-70-7, ISSN 2683-4510, DOI: https://doi.org/10.31410/EMAN.S.P.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation
Pavlović, G., & Milićević, S. (2023). The Importance of Human Capital as a Strategic Management Factor in the Banking Sector of the Republic of Serbia. In V. Bevanda (Ed.), International Scientific Conference – EMAN 2023: Vol 7. Selected Papers (pp. 151-157). Association of Economists and Managers of the Balkans. https://doi.org/10.31410/EMAN.S.P.2023.151

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