The strategic financial evaluation of human resources development programs by South African firms
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Date
1999-01
Authors
Dhlamini, Alfred Siphiwe
Journal Title
Journal ISSN
Volume Title
Publisher
University of the Free State
Abstract
Human resources development plays an important role in the firm by
improving productivity, and hence the competitive advantage of the
firm. The strategic evaluation of human resources development
programs is also important, in that such programs commit a firm's
financial resources for a long period with uncertain results.
In this study, a method is developed to strategically evaluate human
resources development programs. The evaluation method is based
on the capital budgeting process. Capital budgeting techniques are a
common methods of evaluating long term investments in firms.
This study is divided into two main sections. Firstly, a literature study
of the subject of human resources development and capital budgeting
is undertaken. Based on this study, elements to include in the
strategic financial evaluation method are established.
Secondly, an empirical study is conducted to determine whether
South African firms can use the proposed method to financially
evaluate human resources development programs. Using the
proposed method as a basis, a questionnaire was determined and
tested. The questionnaire was applied to a sample of South African
companies, after which the results were reported. Descriptive
statistics as well as advanced statistics indicated the following:
- South African firms do financially evaluate human resources
development programs.
- South African firms can use the proposed method to
financially evaluate human resources development
programs.
In conclusion, recommendations on the strategic financial evaluation
of human resources development programs by South African firms,
are provided.
Description
Keywords
Human resources development, Financial resources, Capital budgeting process, Financial evaluation, South African firms, Thesis (M.Com. (Business Management))--University of the Free State (South Campus), 1999