9780134431819

More than ever before, HR practitioners must empirically demonstrate a clear link between their practices and firm performance. In, Investing in People: Financial Impact of Human Resource Initiatives, 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. They provide powerful techniques for looking inside the HR "black box," implementing human capital metrics that track the effectiveness of talent policies and practices, demonstrating the logical connections to financial and line-of-business, and using HR metrics to drive more effective decision-making. Using their powerful "LAMP" methodology (Logic, Analytics, Measures, and Process), the authors demonstrate how to measure and analyze the value of every area of HR that impacts strategic value. Among the areas covered in depth are:

· Hiring

· Training

· Leadership Development

· Health and Wellness

· Absenteeism

· Retention

· Employee Engagement

Readers will 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. Also included are powerful ways to integrate HR with enterprise strategy and budgeting and for gaining commitment from business leaders outside HR.

Wayne Cascio holds the Robert H. Reynolds Chair in Global Leadership at the University of Colorado Denver. He has authored more than 150 journal articles and book chapters and 24 books. In 1999 he received the Distinguished Career award from the HR Division of the Academy of Management. He received an honorary doctorate from the University of Geneva (Switzerland) in 2004, and in 2008 he was named by the Journal of Management as one of the most influential scholars in management in the past 25 years. In 2010 he received the Michael R. Losey Human Resources Research Award from the Society for Human Resource Management. His work is cited regularly in the business press. Dr. Cascio is a Fellow of the National Academy of Human Resources, the Academy of Management, and the American Psychological Association. Currently he serves as a senior editor of the Journal of World Business .

John Boudreau is Research Director at the Center for Effective Organizations and Professor of Management and Organization in the Marshall School of Business at the University of Southern California. He is recognized worldwide for breakthrough research on the bridge between superior human capital, talent, and sustainable competitive advantage. He is a strategy, human resource management, and talent advisor and educator in organizations ranging from early-stage companies, to government agencies and Fortune 100 organizations, to large multinational companies. Dr. Boudreau has published more than 60 books and articles, and his work has been featured in Harvard Business Review , The Wall Street Journal , and Business Week . He has won scholarly awards from the Academy of Management. Dr. Boudreau is a fellow of the National Academy of Human Resources and was formerly a professor at Cornell University.

Acknowledgments xiv

About the Authors xv

Preface xvi

Chapter 1: Making HR Measurement Strategic 1

Chapter 2: Analytical Foundations of HR Measurement 19

Chapter 3: The Hidden Costs of Absenteeism 51

Chapter 4: The High Cost of Employee Separations 79

Chapter 5: Employee Health, Wellness, and Welfare 115

Chapter 6: Employee Attitudes and Engagement 143

Chapter 7: Financial Effects of Work-Life Programs 169

Chapter 8: Staffing Utility: The Concept and Its Measurement 195

Chapter 9: The Economic Value of Job Performance 223

Chapter 10: The Payoff from Enhanced Selection 255

Chapter 11: Costs and Benefits of HR Development Programs 283

Chapter 12: Talent-Investment Analysis: Catalyst for Change 309

Appendix A: The Taylor-Russell Tables 325

Appendix B: The Naylor-Shine Table for Determining the Increase in Mean Criterion Score Obtained by Using a Selection Device 337

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Investing in People Financial Impact of Human Resource Initiatives

Investing in People Financial Impact of Human Resource Initiatives

0134431812

Summary

Author Biography

Table of Contents

Supplemental Materials