- List of Figures
- List of Tables
- Foreword by Gary S. Becker
- List of Contributors
- An Economic Perspective on the Notion of ‘Human Capital’
- A Social Perspective: Exploring the Links between Human Capital and Social Capital
- Global Culture Capital and Cosmopolitan Human Capital: The Effects of Global Mindset and Organizational Routines on Cultural Intelligence and International Experience
- Cognition and Human Capital: The Dynamic Interrelationship between Knowledge and Behavior
- A Capital-Based Approach to the Firm: Reflections on the Nature and Scope of the Concept of Capital and its Extension to Intangibles
- Human Capital and Transaction Cost Economics
- Human Capital and Agency Theory
- Human Capital in the Resource-Based View
- Human Capital, Entrepreneurship, and the Theory of the Firm
- The Firm, Human Capital, and Knowledge Creation
- Human Capital, HR Strategy, and Organizational Effectiveness
- How Organizations Obtain the Human Capital they Need
- Aligning Human Capital with Organizational Needs
- Maximizing Value from Human Capital
- Accounting for Human Capital and Organizational Effectiveness
- Interdependencies between People in Organizations
- Understanding Interdependencies between Human Capital and Structural Capital: Some Directions from Kantian Pragmatism
- The Distributed and Dynamic Dimensions of Human Capital
- Human Capital and the Organization–Accommodation Relationship
- Interdependencies between People and Information Systems in Organizations
- Human Capital, Capabilities, and the Firm: Literati, Numerati, and Entrepreneurs in the Twenty-First-Century Enterprise
- Looking to the Future: Bringing Organizations Deeper into Human Capital Theory
- Human Capital Formation Regimes: States, Markets, and Human Capital in an Era of Globalization
- Human Capital in Developing Countries: The Significance of the Asian Experience
- The Future of Human Capital: An Employment Relations Perspective
Abstract and Keywords
This article addresses the question of how modern firms obtain the human capital they need. It focuses on how workforce recruitment and hiring practices have changed since approximately the late 1980s, as firms, driven by external forces to improve efficiency and increase flexibility, have responded by flattening hierarchies, downsizing, and making greater use of external labour markets. The article identifies four key features of these strategic shifts: a decrease in the importance of internal talent development; an increase in external hiring practices; increased use of alternative work arrangements such as part-time, temporary, and contract work; and decreasing loyalty of employees to employers. In the analyses of current recruitment practices, it identifies two key trends: the increased use of executive search agencies, and the growing use of the Internet as a recruitment medium.
Monika Hamori is Professor of Human Resource Management at IE Business School in Madrid, Spain. Her research focuses on the predictors of managerial and executive career success, on top executive and chief executive career paths, and on the role of executive search firms in the corporate hiring process. Her articles have been published in a number of refereed journals including the Harvard Business Review, International Journal of Human Resource Management and Industrial and Labor Relations Review. She was born in Hungary and pursued her undergraduate studies in Budapest. She received her Ph.D. from the Wharton School of the University of Pennsylvania.
Rocio Bonet is an Assistant Professor at IE Business School in Madrid, Spain. Her research focuses on the effects of postgraduate education, in particular of the MBA degree, on individuals' career success. Bonet is also a sworn employee of the Census Bureau where she is conducting research on the effect of work organizational practices on employee welfare, especially on wage growth and promotions. She received her Ph.D. from the Wharton School of the University of Pennsylvania.
Peter Cappelli is the George W. Taylor Professor of Management at The Wharton School and Director of Wharton's Center for Human Resources. He is also a Research Associate at the National Bureau of Economic Research in Cambridge, Massachussetts. He has degrees in industrial relations from Cornell University and in labor economics from Oxford, where he was a Fulbright Scholar. His work focuses on human resource practices, talent and performance management, and public policy related to employment. He is the author of over 100 papers in refereed journals and numerous book chapters. He serves on the editorial boards of Organizational Dynamics, Journal of Industrial Relations, Industrial Relations, Administrative Science Quarterly, Employee Relations (UK), and Industrial and Labor Relations Review.
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