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HR Practices and Firm Performance: What Matters and Who Does It?

  • Fabling, Richard

    (Ministry of Economic Development, New Zealand)

  • Grimes, Arthur

    ()

    (Motu Economic & Public Policy Research and University of Waikato)

We examine the impact of human resource practices on firm performance. The analysis uses data from an economy-wide survey to determine whether firms that adopt certain individual HR practices, or that adopt a suite of practices, perform better than their rivals. We find that adoption of a suite of high performance practices (and adoption of specific practices pertaining to staff training and performance pay) impacts positively on firm outcomes. The strength of the relationships differ by firm size and age, having their strongest impact on small and large firms; curiously they do not appear relevant for mid-sized firms. The nature of firms that adopt high performance practices varies strongly according to size, age and sector.

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File URL: http://www.med.govt.nz/about-us/publications/publications-by-topic/occasional-papers/2007/07-02-pdf/view
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Paper provided by Ministry of Economic Development, New Zealand in its series Occasional Papers with number 07/2.

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Length: 32 pages
Date of creation: Jun 2007
Date of revision:
Handle: RePEc:ris:nzmedo:2007_002
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  1. Sandra E. Black & Lisa M. Lynch, 2001. "What's driving the new economy? The benefits of workplace innovation," Staff Reports 118, Federal Reserve Bank of New York.
  2. Black, Sandra E & Lynch, Lisa M, 1996. "Human-Capital Investments and Productivity," American Economic Review, American Economic Association, vol. 86(2), pages 263-67, May.
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  4. Milgrom, Paul & Roberts, John, 1995. "Complementarities and fit strategy, structure, and organizational change in manufacturing," Journal of Accounting and Economics, Elsevier, vol. 19(2-3), pages 179-208, April.
  5. Lalith Munasinghe & Brendan O'Flaherty, 2005. "Specific Training Sometimes Cuts Wages and Always Cuts Turnover," Journal of Labor Economics, University of Chicago Press, vol. 23(2), pages 213-234, April.
  6. Julia I. Lane & John C. Haltiwanger & James Spletzer, 1999. "Productivity Differences across Employers: The Roles of Employer Size, Age, and Human Capital," American Economic Review, American Economic Association, vol. 89(2), pages 94-98, May.
  7. Haltiwanger, John C. & Lane, Julia I. & Spletzer, James R., 2007. "Wages, productivity, and the dynamic interaction of businesses and workers," Labour Economics, Elsevier, vol. 14(3), pages 575-602, June.
  8. Joseph Blasi & Robert Buchele & Richard Freeman & Douglas Kruse & Chris Mackin & Loren Rodgers & Adria Scharf, 2004. "Motivating Employee Owners in ESOP Firms: Human Resource Policies and Company Performance," CEP Discussion Papers dp0658, Centre for Economic Performance, LSE.
  9. Kandel, E. & Lazear, E.P., 1990. "Peer Pressure and Partnerships," Papers 90-07, Rochester, Business - Managerial Economics Research Center.
  10. Richard B. Fabling & Arthur Grimes, 2007. "Practice Makes Profit: Business Practices and Firm Success," Small Business Economics, Springer, vol. 29(4), pages 383-399, December.
  11. Ernst Fehr & Simon Gaechter, 2000. "Fairness and Retaliation: The Economics of Reciprocity," CESifo Working Paper Series 336, CESifo Group Munich.
  12. Joshua Angrist & Alan Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," Working Papers 834, Princeton University, Department of Economics, Industrial Relations Section..
  13. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9.
  14. John M. Abowd & John Haltiwanger & Julia I. Lane & Kristin Sandusky, 2001. "Within and Between Firm Changes in Human Capital, Technology, and Productivity Preliminary and incomplete," Longitudinal Employer-Household Dynamics Technical Papers 2001-03, Center for Economic Studies, U.S. Census Bureau.
  15. Joshua Angrist & Alan B. Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," NBER Working Papers 8456, National Bureau of Economic Research, Inc.
  16. repec:fth:prinin:455 is not listed on IDEAS
  17. Addison, John T. & Belfield, Clive R., 2004. "Unions, Training, and Firm Performance: Evidence from the British Workplace Employee Relations Survey," IZA Discussion Papers 1264, Institute for the Study of Labor (IZA).
  18. Edward P. Lazear, 1996. "Performance Pay and Productivity," NBER Working Papers 5672, National Bureau of Economic Research, Inc.
  19. repec:pri:indrel:455 is not listed on IDEAS
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