Revised to include two new chapters and updated examples, this third edition shows how to quantify behaviour in organizations for the manager. Future managers are shown how to cost out identified problems and how to effectively deal with common topics in human resource management: turnover, absenteeism, the cost to business of smoking, the financial impact of employee attitudes, the costs and benefits of Employee Assistance and Wellness programmes, the financial impact of valid selection procedures, and the financial impact of well-designed training programs. Real-world examples are included to help readers link the theoretical concepts to practical applications.
Effective Human Resource Management is the Center for Effective Organizations' (CEO) sixth report of a fifteen-year study of HR management in today's organizations. The only long-term analysis of its kind, this book compares the findings from CEO's earlier studies to new data collected in 2010. Edward E. Lawler III and John W. Boudreau measure how HR management is changing, paying particular attention to what creates a successful HR function—one that contributes to a strategic partnership and overall organizational effectiveness. Moreover, the book identifies best practices in areas such as the design of the HR organization and HR metrics. It clearly points out how the HR function can and should change to meet the future demands of a global and dynamic labor market. For the first time, the study features comparisons between U.S.-based firms and companies in China, Canada, Australia, the United Kingdom, and other European countries. With this new analysis, organizations can measure their HR organization against a worldwide sample, assessing their positioning in the global marketplace, while creating an international standard for HR management.
A survival guide to the human resources reengineeringrevolution Sparked by the new information technologies, a revolution is aboutto take place in the way human resource services are organized,staffed, and delivered. To prepare HR professionals for theseradical changes, Reengineering Human Resources provides acomprehensive guide to the basic concepts, processes, andtechnologies that are driving this change. In a clear, concisepresentation illustrated with numerous real-life examples, thisunique book gives the reader: * A detailed primer on the new information technologies, includingspecific human resource uses of the personal computer, interactiveinformation systems, CD-ROMs, personal digital assistants,networks, and more * An explanation of the basic concepts of reengineering, how it canbe implemented, and how to weigh costs and benefits--complete withwork flow graphics and spreadsheet templates * Detailed advice on staffing--the competencies HR professionalswill need in order to succeed and how employee competencies willchange with reengineered work * Specific cases of how human resource functions will be performedafter reengineering, including examples of recordkeeping,succession planning, performance management, training anddevelopment, employment practices, and more Human resources management is on the brink of radicaltransformation and the instrument of that transformation isinformation technology. Starting with this provocative premise, Reengineering HumanResources offers human resource professionals an eye-openingintroduction to the changes that are about to affect theorganization, staffing, and delivery of human resource services.For those who are prepared to take full advantage of the newtechnology, it will mean dramatic increases in productivity andimpressive decreases in cost, as well as vastly improved servicesand greater client satisfaction. In a real sense, the field ofhuman resources is undergoing a revolution. Written by management expert Lyle M. Spencer specifically for humanresource professionals, this book shows how new technologies,reengineered work processes, and retrained employees will bringabout this revolution. Although it assumes no technical expertise,Reengineering Human Resources brings the reader up to speed on thelatest hardware and software applications, including personalcomputers, interactive voice response systems, personal digitalassistants, CD-ROMs, expert systems, information networks, and muchmore. Not just a description of these changes, this important bookprovides complete "how-to" instructions for reengineering,including activity-based costing, value analysis, and work flowcharting. It describes the radical new approaches to organizingwork made possible by combining traditional work analysis methodswith advances in information technology. Specific cases ofreengineered human resource functions, including recordkeeping,employee health care benefits, performance management, training,compensation, and labor relations are illustrated with real-lifeexamples. An entire chapter describes the ways employeecompetencies will change in the reengineered organizations and jobsof the future. Information on implementing these changes explainshow to calculate both the costs and benefits ofreengineering. Timely, authoritative, and compelling, Reengineering HumanResources offers human resource professionals the opportunity toshape the future of their workplace and their profession.
A Logical, Proven Framework for Understanding the Economic Value of Human Resources Investments How to choose Human Resources investments that deliver optimal strategic value—and eliminate those that don’t Best-practice metrics and analysis techniques for talent management, performance management, health and wellness programs, and much more Investing in People introduces a breakthrough approach to Human Resources (HR) measurement that systematically aligns HR investments with organizational goals and helps make HR the true strategic partner it needs to be. Wayne F. Cascio and John W. Boudreau show exactly how to choose, implement, and use metrics to improve decision-making, optimize organizational effectiveness, and maximize the value of HR investments. You’ll master crucial foundational principles such as risk, return, and economies of scale—and use them to evaluate investments objectively in everything from work/life programs to training. Cascio and Boudreau also introduce powerful ways to integrate HR with enterprise strategy and budgeting and for gaining commitment from business leaders outside the HR function. If you truly want “a seat at the table”—or if you want to keep the one you have—you’ll find this book utterly indispensable. Free software available online You don’t need to be a math wizard to get results from Investing in People! Visit www.shrm.org/publications/books to access software that automates virtually all of this book’s key formulas and calculations. Foreword xi Acknowledgments xiii About the Authors xiv Preface xv Plan for the Book xvii Chapter 1: Making HR Measurement Strategic 1 Chapter 2: Analytical Foundations of HR Measurement 21 Chapter 3: The Hidden Costs of Absenteeism 43 Chapter 4: The High Cost of Employee Separations 67 Chapter 5: Employee Health, Wellness, and Welfare 99 Chapter 6: Employee Attitudes and Engagement 125 Chapter 7: Financial Effects of Work-Life Programs 151 Chapter 8: Staffing Utility: The Concept and Its Measurement 171 Chapter 9: The Economic Value of Job Performance 195 Chapter 10: The Payoff from Enhanced Selection 223 Chapter 11: Costs and Benefits of HR Development Programs 245 Chapter 12: Talent-Investment Analysis: Catalyst for Change 271 Appendix A: The Taylor-Russell Tables 285 Appendix B: The Naylor-Shine Table for Determining the Increase in Mean Criterion Score Obtained by Using a Selection Device 297 Index 309
Updating the book since its last publication in 1985, this new edition of the landmark work on human resource accounting has been substantially revised to reflect the current state of the field through the late 1990s. The economies of many nations are increasingly dominated by knowledge- or information-based sectors driven by highly trained and specialized personnel. Whereas physical capital was of the utmost economic importance in the past, the distinctive feature of the emerging post-industrial economies is an increasing reliance on human and intellectual capital. The growing importance of human capital as a determinant of economic success at both the macroeconomic and microeconomic levels dictates that firms need to adjust to this new economic reality. Specifically, if human capital is a key determinant for organizational success, then investment in the training and development of employees to improve performance is a critical component of this success. This broad socioeconomic shift underscores a growing need for measuring and analyzing human capital when making managerial and financial decisions. Yet important human resource decisions involving hiring, training, compensation, productivity and other matters are often made in the absence of specific information about the different costs and benefits of these particular choices. Human resource accounting is a managerial tool that can be used to gain this valuable information by measuring the costs of recruiting, hiring, compensating and training employees. It can be used to evaluate employee training programs, increase productivity, and improve managerial decision-making regarding promotions, transfers, layoffs, replacement and turnover. Case studies illustrate, for example: How an insurance company evaluated a training program for claims adjusters and found that it would return two dollars for every one dollar spent. How a human resources accounting study revealed that an electronics firm's losses from employee turnover equalled one year's new income, and how the company initiated a program to reduce turnovers. The third edition presents the current state of the art of human resource accounting by (1) examining the concepts and methods of accounting for people as human resources; (2) explaining the present and potential uses of human resource accounting for human resource managers, line managers and investors; (3) describing the research, experiments and applications of human resource accounting in organizations; (4) considering the steps involved in developing a human resource accounting system; and (5) discussing some of the remaining aspects of human resource accounting that require further research.
