Recognizing Risk in Human Capital Investments : A Real Options Approach To Strategic Human Resource Management

Topics:
Human Capital
Tags:
HRM,
Human Capital,
Human Resources,
Investment,
Workforce Management
Source:
Cornell University

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Overview: An issue that has not yet been explored in the field of strategic human resource management (SHRM) is that of managing the ‘risks’ involved in human capital management of the firm. The paper addresses this issue using the real option theory framework. It argues that certain HR practices manage risk and generate opportunities for the firm by creating ‘options’ for its human capital management. These HR options help ensure stability of returns from human capital and thus sustain competitive advantage. Different types of HR options and the role of certain HR practices in creation of these options are discussed.

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Format: PDF | Size: 127KB | Date: Jan 2003 | Pages: 26

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