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A win‐win paradigm for quality of work life and business performance
Author(s) -
Lau R. S. M.,
May Bruce E.
Publication year - 1998
Publication title -
human resource development quarterly
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.756
H-Index - 65
eISSN - 1532-1096
pISSN - 1044-8004
DOI - 10.1002/hrdq.3920090302
Subject(s) - profitability index , marketing , business , work (physics) , equity (law) , asset (computer security) , return on assets , return on equity , quality (philosophy) , affect (linguistics) , finance , accounting , psychology , mechanical engineering , philosophy , computer security , epistemology , political science , computer science , law , engineering , communication
This study develops and tests hypotheses to examine empirically how the perceived image of a company's quality of work life will affect its market and financial performances. Growth and profitability of two groups of publicly held companies were compared based on sales growth, asset growth, return on equity, and return on assets. The first group consisted of fifty‐eight companies identified as the best companies to work for in the United States; the second group consisted of eighty‐eight of Standard and Poor's top one hundred companies. Statistical evidence found in this study supports a paradigm that aligns the interests of the investor, manager, and employee stakeholders into a win‐win situation. Findings from this empirical study suggest that companies with high quality of work life can also enjoy exceptional growth and profitability.