IDEAS home Printed from https://ideas.repec.org/a/aes/amfeco/vs9y2015i17p1259.html
   My bibliography  Save this article

Assessing the Financial Value of Human Resource Management Programs and Employee Behaviors: A Critical Tool Still Coming of Age

Author

Listed:
  • Aharon Tziner

    (Netanya Academic College)

  • Assa Birati

    (Bar-Ilan University)

Abstract

This paper highlights investigations into several aspects of the field of economic assessment of human resource management strategies and worker organizational behaviors, both classic and recent. We present the reader with both an historical overview and a review of conceptual and practical developments in this field. It is important to emphasize the influence of the early studies since later financial assessment models were built on the earlier paradigms. The basic thrust of this effort is to encourage the greater employment by managers of quantitative models that allow decision makers to generate all the factors needed to estimate real financial gains and/or losses before any intervention strategy is implemented in the workplace. As indicated, the use of these quantitative models to estimate the net financial gains of using particular intervention strategies or the value of certain types of worker behaviors, can ultimately save companies from making gross tactical errors and, more positively, can assist management in promoting the organization’s long-term economic goals with all the incumbent rewards.

Suggested Citation

  • Aharon Tziner & Assa Birati, 2015. "Assessing the Financial Value of Human Resource Management Programs and Employee Behaviors: A Critical Tool Still Coming of Age," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(S9), pages 1259-1259, November.
  • Handle: RePEc:aes:amfeco:v:s9:y:2015:i:17:p:1259
    as

    Download full text from publisher

    File URL: http://www.amfiteatrueconomic.ro/temp/Article_2473.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Russell, Craig J., 2013. "Is it Time to Voluntarily Turn Over Theories of Voluntary Turnover?," Industrial and Organizational Psychology, Cambridge University Press, vol. 6(2), pages 156-173, June.
    2. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    3. Saul Fine, 2012. "Estimating the economic impact of personnel selection tools on counterproductive work behaviors," Economics and Business Letters, Oviedo University Press, vol. 1(4), pages 1-9.
    4. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    5. Aharon Tziner & Erich C. Fein, 2012. "Modeling employees' deviant behavior and employers' reactions: an interdisciplinary approach using principal-agent and prospect theories," Economics and Business Letters, Oviedo University Press, vol. 1(4), pages 10-20.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mariana Popa (Petrescu), 2021. "Training and Professional Improvement throughout the Teaching Career in the Romanian Secondary Education System," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 644-648, August.
    2. Cotes, Jorge & Ugarte, Sebastian M., 2021. "A systemic and strategic approach for training needs analysis for the International Bank," Journal of Business Research, Elsevier, vol. 127(C), pages 464-473.
    3. Mariana Popa (Petrescu), 2021. "The Teachers Career Evolution in Romanian Pre-University Education," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 475-479, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aharon Tziner & Assa Birati, 2015. "Assessing the Financial Value of Human Resource Management Programs and Employee Behaviors: A Critical Tool Still Coming of Age," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(Special 9), pages 1259-1259, November.
    2. Aharon Tziner & Erich C. Fein, 2012. "Modeling employees' deviant behavior and employers' reactions: an interdisciplinary approach using principal-agent and prospect theories," Economics and Business Letters, Oviedo University Press, vol. 1(4), pages 10-20.
    3. Fong, Eric A. & Xing, Xuejing & Orman, Wafa Hakim & Mackenzie, William I., 2015. "Consequences of deviating from predicted CEO labor market compensation on long-term firm value," Journal of Business Research, Elsevier, vol. 68(2), pages 299-305.
    4. Oliver Huwyler, 2020. "Interest groups in the European Union and their hiring of political consultancies," European Union Politics, , vol. 21(2), pages 333-354, June.
    5. Danny Zhao‐Xiang Huang, 2022. "Environmental, social and governance factors and assessing firm value: valuation, signalling and stakeholder perspectives," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(S1), pages 1983-2010, April.
    6. Bradley, Ian, 2003. "The representative bettor, bet size, and prospect theory," Economics Letters, Elsevier, vol. 78(3), pages 409-413, March.
    7. Audra J. Bowlus & Zvi Eckstein, 2002. "Discrimination and Skill Differences in an Equilibrium Search Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1309-1345, November.
    8. Michael R. CARTER & Alain de JANVRY & Elisabeth SADOULET & Alexandros SARRIS, 2014. "Index-based weather insurance for developing countries: A review of evidence and a set of propositions for up-scaling," Working Papers P111, FERDI.
    9. Fabrizio Rossi & Maretno Agus Harjoto, 2020. "Corporate non-financial disclosure, firm value, risk, and agency costs: evidence from Italian listed companies," Review of Managerial Science, Springer, vol. 14(5), pages 1149-1181, October.
    10. Oliver Linton & Esfandiar Maasoumi & Yoon-Jae Wang, 2002. "Consistent testing for stochastic dominance: a subsampling approach," CeMMAP working papers 03/02, Institute for Fiscal Studies.
    11. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
    12. Aurélien Baillon & Yoram Halevy & Chen Li, 2022. "Experimental elicitation of ambiguity attitude using the random incentive system," Experimental Economics, Springer;Economic Science Association, vol. 25(3), pages 1002-1023, June.
    13. Wang Wenge, 2018. "Board Independence of Listed Companies in the US and China," Asian Journal of Law and Economics, De Gruyter, vol. 9(3), pages 1-21, December.
    14. A. A. Drakos & F. V. Bekiris, 2010. "Endogeneity and the relationship between board structure and firm performance: a simultaneous equation analysis for the Athens Stock Exchange," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(6), pages 387-401.
    15. Benkraiem, Ramzi & Boubaker, Sabri & Brinette, Souad & Khemiri, Sabrina, 2021. "Board feminization and innovation through corporate venture capital investments: The moderating effects of independence and management skills," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    16. Shrimal Perera & Michael Skully & J. Wickramanayake, 2007. "Cost Efficiency in South Asian Banking: The Impact of Bank Size, State Ownership and Stock Exchange Listings," International Review of Finance, International Review of Finance Ltd., vol. 7(1‐2), pages 35-60, March.
    17. Xiaonan Zhang & Honglei Li, 2023. "Reputation incentive model of open innovation of scientific and technological-based SMEs considering fairness preference," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-11, December.
    18. Sang Cheol Lee & Mooweon Rhee & Jongchul Yoon, 2018. "Foreign Monitoring and Audit Quality: Evidence from Korea," Sustainability, MDPI, vol. 10(9), pages 1-22, September.
    19. Heiko Karle & Georg Kirchsteiger & Martin Peitz, 2015. "Loss Aversion and Consumption Choice: Theory and Experimental Evidence," American Economic Journal: Microeconomics, American Economic Association, vol. 7(2), pages 101-120, May.
    20. Baarda, James R., 2003. "Current Law & Economics Debates: Tools for Assessing Fundamental Cooperative Changes?," 2003 Annual Meeting, October 29 31802, NCERA-194 Research on Cooperatives.

    More about this item

    Keywords

    financial assessment models; worker behaviors; organizational behaviors; cost-benefit analysis; human resource management;
    All these keywords.

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aes:amfeco:v:s9:y:2015:i:17:p:1259. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentin Dumitru (email available below). General contact details of provider: https://edirc.repec.org/data/aseeero.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.