Human Resource Management Practices: Assessing Added Value: A Book Review
Keywords:added value, HR investments, Book Review, ORMM-approach
HR managers would do well to document the added value of HR investments and their impact on firm performance in order to garner management's attention and establish credibility. In order to highlight the impact of HR practices, Maike Andresen and Christian Nowak respond to two crucial queries: What additional benefit does investment in HR processes and functions provide? How can the value added produced by HR practices and functions be measured? An overview of the four-step (ORMM-approach) methodology that organizes the process of establishing the added value of HRM is provided in order to address three key questions: It is necessary to model the cause-and-effect relationships (R) between antecedents and outcome variables based on a specification of the outcome variables (O). Furthermore, the added value must be monitored and evaluated using appropriate measurements (M) (M). In addition, a summary of the articles in this edited book demonstrates how this edited volume aids both practitioners and academics in their work in light of the well acknowledged theory-practice gap.