Investing in People: Financial Impact of Human Resource Initiatives, Second Edition, Investing in People, 2nd Edition

Product Author Bios

Wayne F. 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 22 books. In 1999 he received the Distinguished Career award from the HR Division of the Academy of Management. Dr. Cascio is a Fellow of the National Academy of Human Resources, the Academy of Management, and the American Psychological Association.

Dr. John W. 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. Dr. Boudreau has published more than 60 books and articles.

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.

Table of Contents

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