By Michael Armstrong, Stephen Taylor
From an across the world revered specialist on administration subject matters comes this absolutely revised 10th anniversary version of his vintage textbook.
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Extra info for A Handbook of Human Resource Management Practice
Technology – the challenge is to make technology a viable, productive part of the work setting. Intellectual capital – this is the source of competitive advantage for organizations. The challenge is to ensure that firms have the capability to find, assimilate, Human resource management ❚ 27 ● compensate and retain human capital in the shape of the talented individuals they need who can drive a global organization that is both responsive to its customers and ‘the burgeoning opportunities of technology’.
Research outcomes A considerable amount of research has been carried out to establish the link between HRM and firm performance. 2. 2 mance Outcomes of research on the link between HR and organizational perfor- Researcher(s) Methodology Outcomes Arthur (1990, 1992, 1994) Data from 30 US strip mills used to assess impact on labour efficiency and scrap rate by reference to the existence of either a high commitment strategy* or a control strategy*. Firms with a high commitment strategy had significantly higher levels of both productivity and quality than those with a control strategy.
As John Sunderland, Task Force member and Executive Chairman of Cadbury Schweppes plc commented: ‘An organization’s success is the product of its people’s competence. ’ Nalbantian et al (2004) emphasize the measurement aspect of HCM. They define human capital as, ‘The stock of accumulated knowledge, skills, experience, creativity and other relevant workforce attributes’ and suggest that human capital management involves ‘putting into place the metrics to measure the value of these attributes and using that knowledge to effectively manage the organization’.
A Handbook of Human Resource Management Practice by Michael Armstrong, Stephen Taylor