engleski

Implementation of Classification Methods in Determining Human Resource Bundles

In today volatile and every day changing business environment, human resources represent one of the crucial company’s resources. Changing from traditional to modern economy, it is not enough for company to possess substantial material and financial resources. It requires possessing unique human resources, with specific knowledge, skills and abilities important for survival of the company and creating company’s sustainable competitive advantage. Two decades ago, reputable authors started to research influence of human resource activities and organizational performances. Moreover, many researches provided empirical evidence of the importance of creating human resource bundles, which represent set of combined human resource activities. Due to their more direct and stronger synergic effect, human resource bundles provide greater effect on companies’ performances, instead of isolated and separated human resource activities. The aim of this paper is to present different bundles, created by the implementation of classification methods (factor and cluster analysis) and their correlation with the most influential companies’ financial performances. Bundles are created using nine groups of human resource practices and their particular activities. The sample of this research includes Croatian public companies listed on Croatian Stock Exchange Market which were provided by written survey. Survey was generally designated to human resource managers, investigating their subjective opinions on the level of development of human resource practices within their company. These data are paired by companies’ financial indicators in order to disclose their relations. Second analysis creates the most influential human resource bundles, distinguishing them according to the company’s main activity, in order to reveal their characteristics which results from specificities of different industries.

Classification methods; factor analysis; cluster methods; human resource bundles; human resource practices

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