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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(Special 9), pages 1259-1259, November.
    • Handle: RePEc:aes:amfeco:v:special9:y:2015:i:17:p:1259
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. 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.
    4. 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.
    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.
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    Cited by:

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    2. 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.
    3. 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.

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    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

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