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High‐performance workplace practices for Greek companies

High‐performance workplace practices for Greek companies Purpose – This study aims to examine whether are there human resources (HR) practices that influence firm performance of companies operating in the Mediterranean region and, specifically, in Greece. Existing literature comes mostly from American studies, leaving a research gap what happens when HR practices are applied by companies in the Mediterranean region. Design/methodology/approach – The author reviewed the existent literature and examined six HR practices, which were initially proposed by Pfeffer. Using a self‐reported questionnaire, the author surveyed managers in Greece. The author used univariate and hierarchical multiple regression models to analyse the data. Findings – Analysis of data provides overall support for all HR practices except of job security. Selective hiring and compensation policy were significant predictors for all performance variables. Research limitations/implications – Results from studies on a specific industry may have limitations to generalising to other sectors of the economy. More research is necessary to examine HR practices not covered by this study. Practical implications – This study has practical implications particularly for small and medium enterprises (SMEs) that proliferate in Mediterranean countries. SMEs often find it difficult to see all the connections between antecedents (such as recruiting, compensating and training personnel) and consequences (such as turnover, financial performance). This study shows that there are high‐performance workplace practices that clearly pay off and thus, it is worthy investing on them. Originality/value – This research is valuable to Mediterranean companies by highlighting the role of practices such as selective hiring and compensation policy in order to increase the overall firm performance. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png EuroMed Journal of Business Emerald Publishing

High‐performance workplace practices for Greek companies

EuroMed Journal of Business , Volume 4 (1): 19 – May 15, 2009

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Publisher
Emerald Publishing
Copyright
Copyright © 2009 Emerald Group Publishing Limited. All rights reserved.
ISSN
1450-2194
DOI
10.1108/14502190910956675
Publisher site
See Article on Publisher Site

Abstract

Purpose – This study aims to examine whether are there human resources (HR) practices that influence firm performance of companies operating in the Mediterranean region and, specifically, in Greece. Existing literature comes mostly from American studies, leaving a research gap what happens when HR practices are applied by companies in the Mediterranean region. Design/methodology/approach – The author reviewed the existent literature and examined six HR practices, which were initially proposed by Pfeffer. Using a self‐reported questionnaire, the author surveyed managers in Greece. The author used univariate and hierarchical multiple regression models to analyse the data. Findings – Analysis of data provides overall support for all HR practices except of job security. Selective hiring and compensation policy were significant predictors for all performance variables. Research limitations/implications – Results from studies on a specific industry may have limitations to generalising to other sectors of the economy. More research is necessary to examine HR practices not covered by this study. Practical implications – This study has practical implications particularly for small and medium enterprises (SMEs) that proliferate in Mediterranean countries. SMEs often find it difficult to see all the connections between antecedents (such as recruiting, compensating and training personnel) and consequences (such as turnover, financial performance). This study shows that there are high‐performance workplace practices that clearly pay off and thus, it is worthy investing on them. Originality/value – This research is valuable to Mediterranean companies by highlighting the role of practices such as selective hiring and compensation policy in order to increase the overall firm performance.

Journal

EuroMed Journal of BusinessEmerald Publishing

Published: May 15, 2009

Keywords: Human resource management; Organizational performance; Greece; Food industry; Recruitment; Compensation

References