【正文】 ls of pany performance. One standard deviation of improvement on their bell curve of integrated HPWS was associated with changes in market value from $15,000 to $60,000 per employee. Employee productivity was calculated as the logarithm of sales per employee using gross rate of return on assets (GRATE), which is less sensitive to depreciation and other noncash transactions, and Tobin?s q, a futureoriented and riskadjusted capitalmarket measure of performance that reflects both current and anticipated profitability and often mirrors the price that the market will pay for intangible assets (goodwill). – Huselid, M. and Becker, B. (1995). High Performance Work Systems and Organizational Performance. Paper presented at the 1995 Academy of Management annual conference, Vancouver, . 4 3rd Generation: Followup Research… Further research that included three US surveys and the experience of more than 2,400 panies continued to show significant impact of systems that select, maintain, develop, and reinforce employee performance on both marketbased and accountingbased measures of pany performance (while statistically controlling for RD investment, industry market changes, capital improvements, sales growth trends, etc.). Moving from the 60th percentile of integrated HPWS to the 80th percentile improved market valuation by $20,000 per employee. This reflects both operational excellence and alignment with the pany?s strategy. When the elements are present, but not aligned with the pany strategy there is a 27% drop off in measured gains. – Huselid, M. and Becker, B. (1998). High Performance Work Systems, Intellectual Capital, and The Creation of Shareholder Wealth. Working paper. School of Management and Labor Relations, Rutgers University. 5 What is included in an HR HPWS? A valueadded HR function develops supporting policies, practices, and/or strategies that include: o A business strategy that relies on people as a source of petitive advantage and a management culture that embraces that belief o Strong CEO and line manager support o Understanding and integration of required leadership petencies in all HR systems ? Employee development – Success profiles – Assessment – Training – Developmental assignments – Coaching ? Targeted selection ? Performance management ? Payforperformance relationship ? Branding as an employer of choice – Becker, B., Huselid, M., Brockbank, W., Losey, M., Rucci, T Ulrich, D. (1999). Human Resource Management, Winter 1999, Vol. 38, No. 4. 6 What is included in an HR HPWS? o Operational excellence, a focus on client services for individual employees and managers, and delivery of these services at the lowest possible cost o Selfservice administration ? Benefits ? Staff requisitions and job posting ? Onboarding new employees ? Selfpaced training ? Developmental tips and tools o HR managers that understand the human capital implications of business problems and can access or modify the HR system to solve those problems o Identify, secure and leverage resources ? Assess and develop for potential ? Build, buy, borrow, bind or release ? Succession planning o Change management o Team development o Improved munication and decisionmaking systems – Becker, B., Huselid, M., Brockbank, W., Losey, M., Rucci, T Ulrich, D. (1999). Human Resource Management, Winter 1999, Vol. 38, No. 4. 7 Employee Development = Retention A study of 474 university graduates in eight anizations found that, of seven workrelated experiences measured, the quality of the graduates career development was strongly related to later anizational mitment and intention to leave. Arnold, J. and Davey, K. (1999). Graduates work experiences as predictors of anizational mitment, intention to leave, and turnover: Which experiences really matter? Applied Psychology: An international review, 48, pp211238. A study of 257 MBA graduates found that encouraging continued development of knowledge and skills was related to job satisfaction, anizational mitment, and intention to leave. Irving, P. and Meyer, J. (1994). Reexamination of the MetExpectations Hypothesis: A longitudinal analysis. Journal of Applied Psychology, 79, pp 937949. 8 The Power of Profiles ASTD and SHRM studied panies that are renowned for their ability to attract and retain top talent (Dow Chemical, Edward Jones, Great Plains, Sears, and Southwest Airlines). One key finding was that all of these panies implemented petencybased position profiles so that employees understood the skills and abilities required to move into other roles, including leadership positions. American Society for Training and Development and Society for Human Resource Management (1999). Recruiting and Retaining Employees: Using traini