www.acetxt.com www.acetxt.com Strategic Human Resource Management Fourth Edition www.acetxt.com www.acetxt.com Strategic Human Resource Management Fourth Edition Australia • Brazil • Mexico • Singapore • United Kingdom • United States www.acetxt.com This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. www.acetxt.com Strategic Human Resource Management, Fourth Edition Jeffrey A. Mello Senior Vice President, Global Product Management: Jack W. Calhoun Vice President, General Manager, Social Science & Qualitative Business: Erin Joyner Product Director: Mike Schenk Senior Product Manager: Michael Roche Content Developer: Christopher Santos Product Assistant: Megan Fischer Brand Manager: Robin Lefevre Market Development Manager: Emily Horowitz © 2015, 2011 Cengage Learning WCN: 02-200-203 ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored, or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to
[email protected] Marketing Coordinator: Michael Saver Art and Cover Direction, Production Management, and Composition: PreMediaGlobal Library of Congress Control Number: 2013947154 Senior Media Developer: John Rich ISBN-10: 1-285-42679-7 Rights Acquisition Director: Audrey Pettengill Rights Acquisition Specialist, Text and Image: Amber Hosea Manufacturing Planner: Ron Montgomery Cover/Internal Image: Novastock/Age Fotostock/Getty Images ISBN-13: 978-1-285-42679-2 Cengage Learning 200 First Stamford Place, 4th Floor Stamford, CT 06902 USA Cengage Learning is a leading provider of customized learning solutions with office locations around the globe, including Singapore, the United Kingdom, Australia, Mexico, Brazil, and Japan. Locate your local office at www.cengage.com/global Cengage Learning products are represented in Canada by Nelson Education, Ltd. To learn more about Cengage Learning Solutions, visit www.cengage.com Purchase any of our products at your local college store or at our preferred online store www.cengagebrain.com Printed in the United States of America 1 2 3 4 5 6 7 17 16 15 14 13 www.acetxt.com To my amazing daughter Logan and my equally amazing parents, Gabe and Lorraine www.acetxt.com BRIEF CONTENTS Preface xii About the Author xv Part one The Context of Strategic Human Resource Management 1 2 3 4 5 6 7 An Investment Perspective of Human Resource Manage