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EVALUATING THE PRACTICALEFFECTIVENESS OF HUMAN RESOURCEPLANNING APPLICATIONSJames W. Walker

In the past several decades, large organizations haveput into use a wide range of programs and practicesaimed at the improved utilization of their humantalent. The thousand largest husiness and industrialorganizations in the world together spend in excessof $10 hillion each year in human resource manage-ment activities, excluding the value of time spentby individuals and managers away from work forpurjHDses of training, development, interviewing,performance planning and review, and other activi-ties.A discipline of human resource planning (man-power planning) has developed and is now widelyused to guide management in planning and con-ducting these activities, and allocating these finan-cial resources. Nearly all of the organizations in arecent survey of major U.S. and Canadian firmsindicated that they practiced manpower planning(Walker, 1973). These organizations also indicated,however, that these practices are extremely tradi-tional and rudimentary. The tools heing used inmanpower planning do not appear to he adequateto meet the needs of management for proper evalu-ation and planning of investments in the humanresource area.If the major financial investments heing made areto yield the returns that they should, more rigoroustools need to he added to the discipline of manpowerplanning. This paper proposes a four-stage modelof human resource planning.Through human resource planning, managementprepares to have the right people at the right placesat the right times to fulfill hoth organizational and

individual objectives. With the proper planningand evaluation, management is ahle to attract, re-tain, develop, and utilize talent to meet organiza-tional challenges of the future. At the same time,the organization is ahle to provide employees withrealistic and satisfying career opportunities. Thehuman resource planning process may he viewedas having three elements:1. Through forecasting, management anticipatestalent requirements hy examining hoth individualand organizational plans.2. Through 'programming, management plansactions that will meet these needs and at thesame time support key individual career decisions,as follows:

organizational and occupational choice hy at-tracting, recruiting, and orienting new talentto the organization.joh assignment hy matching individual interestsand talents with opportunities,performance and development planning andreview hy helping individuals perform effec-tively and develop their capahilities.retirement hy helping individuals prepare forsatisfying retirement.

3. Through evaluation, management assesses theeffectiveness of this forecasting and programmingin terms of hoth organizational and individualimpact.In each of these elements of the human resourceplanning process, organizations display a variety of

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practices. The types of practices vary with the cir-cumstance of the organizations, including the num-ber of employees; the geographic dispersion; thestage of development of the organization; the tech-nologies involved; the economic, social, politicalenvironment; and the personalities and experiencesof key executives.W e find that practices in each element of plan nin gmay be viewed in terms of a four-stage evolution,linked to circumstances such as those noted ahove.Simply put, the organization uses a comhination oftools and management practices suited to its needs.Th is evolutionary view of hum an resource planning,outlined below, must be considered tentative andsubject to validation through further research. Atthis point, nevertheless, it serves as a useful frame-work for auditing human resource planning prac-tices and for evaluating their effectiveness.The four "stages of human resource planning" repre-sent successive levels of complexity and scope inthe systems, procedure, and activities that make upan organization's human resource management.Stage I represents a rudimentary, hasic approach toan organization's needs as might he applied in asmall organization or an entrepreneurial organiza-tion in its early stages of grow th. For su ch an organi-zation this approach is quite proper and appropriate.Stage II represents a short-range planning cycle,and a sensitive hut largely paternalistic approachto human resource management. It represents aneffort hy an organization to supplement its informal,personal management style with more formal, ob-jective tools. Today, many organizations, particu-larly those in the range of 3,000 to 10,000 employ-ees, are in this stage.Stage III represents "state-of-the-art" practices inhuman resource planning involving use of computercapahilities and coordinated activities aimed at satis-fying hoth short-range and long-range needs. Majorbusiness organizations are operating in this stage,where the focus is improved career management.Finally, Stage IV represents the ultimate in humanresource planning practices, requiring in manyaspects tools that may he on the drawing hoards.Practices here are innovative and experimental. Asa management process. Stage IV may he viewed asfuturistic at this time, even though the techniquesare widely discussed in the popular and professionalliterature and are the focus of attention hy man-power researchers.

While organizations appear to develop more ad-vanced systems as they mature and grow, thereshould he presumed no normative progression fromStage I to II and so on. All organizations shouldnot necessarily operate in Stage II, III, or IV. Rather,each organization should operate in the stagethehuman resource planning systembest suited to itspresent needs, its past successful experience, and itsprojected immediate future requirements. Above all,it appears that practices are well-planned when theyare consistently applied within one of the stages.These points will hecome more clear as the elementsof the four stages are examined more closely.The Four System StagesAs shown in Exhibit I, the ways organizations mayforecast future talent requirements and humanresource management needs range from the veryinformal and suhjective to the very quantitative,formal, and analytic. Similarly, as shown in ExhihitII, the ways organizations plan actions to meet needsrange from the very simple, personal, and informal,to the very systematic, open, and comprehensive.In the Exhibit, practices are identified as they relateto each of the primary aspects of career manage-ment.Each of tbese approaches to human resource plan-ning requires a different base of informationhothin terms of the type and extent of data and thenature of the system hy which those data are gath-ered, stored, and made availahle for managementuse. In Exhibit III, the pertinent data required foror provided by each stage of human resource plan-ning are displayed. While providing personnel datais not an integral part of the planning process, it iscritical to it. Information provides the foundationfor human resource planning and especially for thethird major element: evaluationthe way we ensurethat human resource planning is effective. This lastelement of human resource planning is the focusof this paper.EvaluationTechniques used to evaluate the effectiveness ofhuman resource planning and human resource man-agement generally are simple, suhjective, and tra-ditional. Analysis of current practices indicates thatin most husiness organizations the various humanresource activities are suhject only to a personalreview hy key managers. The philosophy prevailingseems to reflect such assumptions as:

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EXHIBIT IFORECASTING: The way we anticipate future talent requirements and Human Resource Management needs

I-AAanagers discuss g /plans and thus types andnumbers of people needed

in the short-term.

-Highly informal andsubjective.

II-Annual planning andbudgeting process includesmanpower needs.

Specify quantity and qualityof talent needs as far out intime as possible.-Identify problems requiringaction: individual or generol.

-Analyze managementsuccession ond readiness ofsuccessors.

I ll-Using computer-generatedanalyses, examine causesof problems and future

trends regarding supply anddemand (the flow of talent).

-Use computer to relievemanagers of routine fore-casting tasks (such asvacancies or turnover)-Analyze career paths andcareer progress usingcomputer data files.

EXHIBIT IIPROGRAMMING: The way we plan actions to satisfy talent requirements-Individuals recruited andassigned to jobs as needsarise.

-Necessary on-the-joborientation provided.

It-Recruitment based onprojected short-range needsand on anolysis of pastrecruitment and selectionexperience.-On-the-job orientationsupplemented by formalorientation programs.

-Recruitment coordinatedamong organizational unitsand linked to plans for thefuture flow of talent in theorganization.-Long-term indicators ofindividual career interests,capabilities anci perfornianceare considered in recruitmentand selection.

IVOn-line modeling andsimulation of talent needs,flows and costs to aid in a

continuing process ofupdating projecting needs,staffing plans, careeropportunities and thusprogram plans.Provide best possible currentinformation for managerialdecisions.-Exchange data with othercompanies and with govern-ment (such as economic,employment and socialdata).

IVFluid exchange of talent onreciprocal basis amongorgonizations and witrigovernment.-College recruitment begunduring training so as toguide individual preparation.

-Recruitment is corporate-wide for managerial,professional, and technicaltalent and the talent marketis mult inational.The way we match individual talents and interests with opportunities

1-Informal knowledge ofindividual capabilities andreadiness is relied upon fornew assignment results inmatching. Managerialjudgment and personalcontact are of primeimportance.

-Managerial replacementplanning is informal, basedon personal knowledge andan "heir apparentapproach."

-Career information iscommunicated to employees.

-Internal search is conductedfor all assignments, includingreview of availableappraisal data and personalbiographical data.

-A limited job postingsystem may be used.

Systematic backup planningincludes use of charts,appraisals, and/ormanagement-leveldevelopment committees.

-Internal search precedesoutside recruitment; theinformation system is usedto seorch for individualsinterested in and qualifiedfor vacancies.

-The chain effect of assign-ment is fully considered andplanned. A comprehensivejob posting or careertracking system is used.

Individuals provide data onskills, preferences, anddevelopment needs inadvance of vacancies forconsideration in matchingprocess.

Management successioncandidates are prepared forcareer to flit projected needson a pooled basis.

IV"Individuals plan theirdesired career program inan open "internal labormarket" in the organization.

Individuals may initiatereviews of their quolificationsfor vacancies as they orise(position or job). Assign-ments may cross depart-mental and functional lineson the basis of career paths.-Managers review individualplans and provide develop-mental opportunities neededto prepare individuals forplanned future responsi-bilities; level with individualswhen plans are unrealisticand provide out-ptacementassistonce when suitableopportunities are notavailable.-Management successionresults from effective normalcareer development andprogression covering em-ployees. An annual manage-ment review of humanresource planning ensureseffectiveness of action.

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EXHIBIT II (CONTINUED)The way we help individuals perform effectively and develop their capabilities

I-Job descriptions provideguides for managers indirecting the work of others.

-Individual developmentresults through workexperience and someformal training.

II-Managers Interpret positionresponsibilities withindividuals and coach

individuals to assure under-standing and commitmentto them.-Managers appraise resultsand individual capabilitiesand potential.-Training and developmentactivities are provided toemployees as determinednecessary and desirable bymanagement.

-A goal setting and reviewprocess draws togetherindividual career plans withtask/role aspects of a iob.

Managers coach individuals,provide career guidance,and mutually reviewprogress with individuals.

The way we help individuals prepare for a satisfying retirementPension benefits andpertinent information onthem and company retire-ment policy are provided.Service is recognized withawards program andretirement honors.

II-Pre-retirement counseling isprovided to encourageindividual preparationboth financially andpsychologically.-Early retirement is possiblewith reduced pensionbenefits.

-Retirement is viewed as acareer step and is preparedfor as such by individuals.

-Retirement timing is flexiblethrough gradual retirementand other options.

IV-Individual plans work(roles/tasks) and developmentactions in the context of

career planning.-Full information is sharedwith individual so thatplans may be realistic andattuned to company needs.-Performance and growth arereviewed by individualhimself (self-appraisal).

IV-Individuals move in and outof "retirement" throughmobility (with vested pensionbenefits).-Sabbaticals, special leaveprograms, and projectassignments are available.-Individual differences arerecognized and honored bycompany actionswithoutreliance on age and seniorityas overriding factors incareer progress, developmentor compensation.

EXHIBIT IIIINFORMATION: The way we keep track of information on talent in the organization

I-Basic employment data: Personal education,

experience Biographical data

-Manual files contain basicpersonnel data.

II-Appraisal data added: Performance

Potential Qualifications Limited data on skillsand interests-A semi-automated datastorage ond retrieval systemis used.

-It may be an expandedpayroll file or a stand-alonef ile.-Provides basic reports,general listings andsummaries for managerialuse.

-Qualitative data added: Individual interests Self-appraisal data Job preferences Specified individual skillsand knowledge areas Psychological assessments

-Comprehensive humanresource informationsystem with turnarounddocuments for personneldecisions and updating anda generalized retrievalprogram.Essential calculativecapacities (e.g.,correlation, m odeling).-May be for division,group or location(e.g., U.S. only).

IV-Behavioral attitude dataadded:

Role/task elements Behavioral characteristicsof individuals and jobs Investment and benefitmeasures-Information system is Corporate-wide Multinational

-System is on-line providingaccess to data for retrieval,analysis and updating.-The data system initiatespersonnel actions, analysesof special problems.

"If it works, don't fix it.""If we wanted things different, we*d make thingsdifferent.""We look at resultsand we're making profits,aren't we?"

This traditional approach to evaluation becomesmore critical only where major problems emerge,such as:

a union organizing drive among employees

a period of cost-control emphasisa period of low or declining profitabilitya sharp upturn in employee turnovera tight labor market, with inability to recruitneeded talent.

Then a series of special studies, attitude surveys,and other analyses are often conducted to helpmanagement determine the best course of remedialaction. Many companies look to their competitors

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for a guide to their own human resource planningeffectiveness. Such insightful questions are addressedas :

"Where do we stand with other companies?""What are other companies doing differently?""What are the trends?"

When a need for reconsideration of existing prac-tices is recognized, the common procedure is toconduct a special study of the issue. For example,if there is some concern ahout management develop-ment not being adequate, a task force or committeemay be formed. If manpower planning itself appearsinadequate to meet company needs, a specialistmay be commissioned to survey practices of otherleading companies and recommend remedial actions.The result is usually a specific set of recommenda-tions aimed at revising or replacing current practiceswith a new approach based on the informationgathered. This new process remains in place untila need for further change is strongly felt.This traditional evaluation approach is not neces-sarily inadequate. It is simple, personal, direct, andresponsive to important business needs. It may beslow, but it is inexpensive and avoids frivolouschanges and actions. It is subjective, but relies onbusiness judgmenta key to business success. Insmall organizations and in organizations witb hu-man resource planning in Stage I, this approachmay be perfectly appropriate and sufficient. As tbeneed for more rigorous evaluation in human resourceplanning develops, new tools and different proce-dures may be introduced.Such additional, more rigorous, tools and proceduresfor evaluation might include the following:

in-depth review of specific policies, systems, pro-grams, and activitieswith regard to the mannerin which each is actually applied, and its merits(Gordon, 1973).interpretation of quantitative dataincluding ratesand levels of participation in programs, move-ment of talent, turnover, and absenteeism.interpretation of employee attitudesbased onperiodic employee attitude surveys or other formsof organizational climate audit.

review and interpretation of activities by an ex-ternal party, sucb as a consultantpermitting apossibly more objective view and evaluation andfurther inputs regarding comparisons with prac-tices of other organizations.measurement of direct expenditures of such pro-grams as recruitment, training and development,or training of disadvantaged employees (Rohan,1972).analysis of turnover costs and the causes of turn-over (Bassett, 1972).analysis of the breakeven point/payback periodfor new hires.analysis of productivity changes, the impact ofincentive compensation on productivity, and otherfactors affecting productivity.analysis of recruitment resultsoptimal sourcesof recruits, recruitment practices, costs of recruit-ing versus developing talent available internally.analysis of staffing mix to optimize personnel costs.analysis of the economics of layoff and retentionof good talent during periods of staff reductions.analysis of talent requirements associated withpossible mergers and acquisitions.

These types of evaluation procedures may be foUndin industrial practice today, but they are not widelyused. They are concerned primarily with: a) exami-nation of current practices in light of costs, em-ployee or management perceptions, and results; andb) measurement and analysis of cost and variationsin costs under decision alternatives.These evaluations may be conducted readily in mostmajor business organizations. The data are available;the tools are available. Tbey provide substantive,factually-based information for management's con-sideration in making decisions. They are, however,merely supplemental to basic, rudimentary man-agerial judgment. They do not provide estimationof the benefits related to costs, nor d o tbey cons titutean ongoing evaluation process to guide managementplanning and budgeting. The techniques that pro-vide for this type of evaluation include cost-benefitanalysis, human capital budgeting, reporting ofhuman resource data, and estimation of humanresource values. These techniques are not fully

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developed for application in the human resourceplanning area. They are used, however, in otherfunctional areas of management and thus may beapplied effectively where they are appropriate andwhere individuals understand how to apply andinterpre t them. W e will review each of these tech-niques briefly.1. Analysis of cost in relation to estimated benefitsis a direct application of a well-accepted tool offinancial analysis. Tb is tool is particularly applicableto evaluation of specific training and developmentprograms, evaluation of fringe benefit and compen-sation changes, and evaluation of new systems andorganization structures (Thomas, 1969). Cost-hene-fit analysis can be a useful element in the evaluationof alternative programs that may be implementedin an organization. For example, a division of XeroxCorporation evaluated various proposed personnelexpenditures in terms of cost-effectiveness andtechnical and operational feasibility. The variousproposals were then ranked the best were adopted(Cheek, 1973).2. Cost-effectiveness evaluations are essential forhuman capital hudgetinga process whereby man-agement allocates available resources for bumanresource programs through a budgeting process,normally a part of the management budgeting andplanning process. At a minimum, a company at-tempting human capital budgeting establishes com-mon budget lines in all divisions covering trainingand development outlays, recruitment expenses, re-location expenses, and otber major types of ex-penditures. Tbis tool permits an ongoing reviewof tbese expenditures as investments.3. Tbe very process of reporting basic human re-source data to management can prompt consider-ation of human resource planning issues in the con-text of regular husiness planning and management.Some companies, for example, provide human re-source data and plans as part of the five-year busi-ness planning process. This information provides abasis for increases and sbifts in capital allocationfor human resource development and utilization tomeet the organization's anticipated needs. Of course,payroll costs, staffing levels and projections, andresults of special studies would supplement basicbudget-line data.4. Some companies have attempted to estimate thevalue of their human resourcesas information use-

ful in planning layoffs, further developmentalactions, compensation changes, and other types ofdecisions where asset values are helpful information.Granted, this is not common practice, and therationale for developing measures or estimates of theworth of employees and executives is not alwaysclear. The insurance industry has encouraged suchan effort, with limited success, for purposes of estab-lishing key man insurance in business organizations.Tbe effort has also heen of considerable interest andattention in academic researcb and publications(Flamho ltz, 197 1; Lee, 1972; Likert, 1967, 1973;Waters, 1972). As a matter of information, thereare primary approaches for estimating human re-source value:

Accrued costs: an accounting approach based onhistorical asset-costs/predicted-values, i.e., anorganizational systems approach that examineshuman facts in relation to organizational per-formance.Replacement value: a "market value" approachpioneered by the insurance industry in the 195O'sand 196O's.Economic value: a discounted present-value ap-proach hased on projecting earnings of the in-dividuals and/or other pertinent variables.

Tbere are numerous variations on each of thesethemes, but tbese are the primary ones recognizedtoday. Others include a goodwill approach (eitherbased on total stock value or net wortb), a dis-counted total earnings approacb (part of tbe presentvalue of future earnings is attributable to tbe bumanelement), and a value-structure approach (in whichskills groups are ranked ordinally and then pricedas a structure according to the market value).To date, the value of such surrogate measures ofhuman resource value has heen largely one of draw-ing attention of managers to the sizable investmentin people. Witb extremely few exceptions, this in-formation has not been used in human resourceaccounting systems, it remains primarily an aca-demic exercise.Beyond human resource evaluation and the variousevaluation techniques outlined there is a great dealof interest in a broad-scope process of human re-source accounting. Under this umbrella name, re-searchers have developed processes for continuousmonitoring and reporting of investments and values,computerized simulation of alternative human re-

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source investment decisions, and ongoing account-ing and financial reporting for human resources. Atthis point you may take these to mean pretty muchwhat you wish, as they are still largely undefinedand subject to much further development. Thethrust is in the same direction as that of the tech-niques now being usedtoward more rigorousevaluation of human resource expenditures. Thesebroad processes, however, are such major departuresfrom current business management practice tbatthey can best be described as futuristic (Alexander,1971).The pioneering steps taken hy William Pyle, Direc-tor of the University of Michigan's Human Re-source Accounting Program, and the R. G. BarryCorporation, an Ohio-hased manufacturer, haveheen widely publicized. The company, with theassistance of the University of Michigan, has re-ported human asset information in its annual finan-cial statements since 1969. The accounting systemuses a replacement cost, and company-developedstandard costs are added. The initial steps takenat Barry were to place "people on the balancesbeet" in terms of accrued costs. Steps to supplementand refine this data and to make it useful as man-agement information have followed (Pyle, 1970).Steps for EvaluatiotiSo what should an organization do to evaluateproperly its human resource planning effectiveness?Which of these varied tools and techniques shouldbe applied? Is human resource accounting the ideal

process to be implemented, or is subject evaluationbest suited for some organizations?In the context of human resource planning as anevolutionary process, there is no one best evaluationtecbnique. Different evaluation tecbniques andmeasures apply to each stage of human resourceplanning practice, as displayed in Exhibit IV. Man-agement should use the evaluation practices that areconsistent with the forecasting and programmingpractices used and the personnel information avail-able.As discussed in this paper, an organization shouldoperate in the stagethe systembest suited to itspresent needs, its past successful experience, and itsprojected future requirements. Above all, it shouldstrive to be consistent in its practice so that time andresources will not be wasted.This suggests that pitfalls endanger many well-intended managers who seek to apply human re-source accounting techniques, human capital hud-geting, computerized simulations, or other advancedtools. There are many cases in which organizationshave introduced practices ahead of their time.Even at R. G. Barry, the balance-sheet approachwhich was developed is leaps ahead of the com-pany's overall human resource planning. At Xerox,the costbenefit analysis and budgeting process whichwas developed is apparently not being used on acontinuing, valid basis. Too often, new, state-of-the-art techniques are introduced with initial in-terest, and promoted. Then, as the practical appli-

EXHIBIT IVEVALUATION: The way we assure that human resource planning is effective

IPolicies, systems/ programs,and activities are subiectivelyreviewed.

-Problems, strengths andvalue receivedd fromexpenditures are evoiuatedintuitively.

II-Policies, systems, programs,ond activities are reviewedond evoiuated. Avoiloblequontitatlve doto, ottitudesof porticipoting individuals,ond proctices in similor

or^onizotions ore exomined.This moy be conducted bya third party for improvedobjectivity.-Direct expendituresoutloysfor ocquisition and develop,ment of humon resources-ore meosured and reported.

-Anolyses of turnover,productivity shifts, recruit-ment results, ond othermonpower potterns areconducted so as to iden tifyproblems.

Cast-benefit onolyses ofsystems, programs andactivities are conducted;expenditures ore budgetedoccording to prioritiesresulting from theseonolyses.

Indirect costs ore estimoted,accounts on oil costs ondmeosured benefits, ond theestimated net orgonizotionolimpact ore reported formonogement consideration.Surrogate meosures (such osreplocement cost, accruedcost, or economic voiue) ofhumon resource volue oredeveloped ond applied suitedto the orgonization'scircumstances, techonolgyond market.

iV-Computerized simulationof alternotive humonresource investment decisionsond the long-term impoctof humon resource invest-ment ond am ortization

proctices.

-Direct ond indirect invest-ments ond reloted voluesoccruing to the organizationore monitored.

-This information is includedin occounting, financialonolysis and reportingprocesses for managementand investor informotion.pt



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cations of the results lag, the technique loses itssparkle and falls into disuse and possibly disrepute(loses its support) among operating personnel. Thenit is time to move on to another "new" tool or toreturn to basics. It is the latter that makes sensefrom the approach outlined here.The steps to be followed for evaluating the practicaleffectiveness of human resource planning applica-tions are as follows:

1. Deter min e the objectives of the hum an re-source planning process in terms of the ob-objectives and plans of the organization. Thismay require discussions with key executives,analysis of corporate long-range plans, andexamination of characteristics of the organi-zation, the available talent, the tasks per-formed, the technology or technologies in-volved, and the enviromental conditions ofthe organization.

2. Examine the various policies, systems, pro-grams, and other elements of the human re-source planning processincluding all aspectsof forecasting, programming, and informationsystems. Determine the overall pattern ofhuman resource planning in relation to thefour-stage framework presented in Exhibits I,II , and III. Identify the practices that appearto be consistent, within one of the stagesdescribed. Identify also those practices thatappear to be more basic or more advanced bycomparision with the predominant pattern.

3. Compare the current pattern of human re-source planning practices with the objectivesof the process and th e needs of the organization(step one). Determine in which stage (or com-bination of stages, if appropriate) the organi-zation should be conducting its human re-source planning. As the organization growsand matures in the years immediately ahead,toward which stage of human resource plan-ning should the organization be moving?These judgments are critical to the evaluationprocess. The framework presented here is de-signed to help managers make these judg-ments.

4. Apply specific evaluation tools and techniques,as outlined in Exhibit IV, for the review ofthe effectiveness of the practices involved inthe stage determined to be suited to the organi-

zation's needs and objectives. This specificevaluation uses measures and assessments thatfit the stage of human resource planning prac-tice. As discussed, subjective review and in-tuitive evaluation are appropriate techniquesin organizations ojjerating with Stage I humanresource planning.Public reporting of human resource data ap-pears suited only to organizations with themost advanced human resource planning prac-tices. In the mid-range, specific tools appearapplicable where necessary supporting infor-mation is available and practices are amenableto particular types of evalution.

This framework for viewing the human resourceplannin g process, including the evaluation of h um anresource applications, is tentatively proposed and issubject to further refinement and testing. In theorganizations where it has been applied, however,it has been a useful tool for examining and im-proving human resource planning.At a time when managers are looking for simpleanswers to complex problems, when personnel pro-fessionals are increasingly specialized and (unfor-tunately) program and technique-oriented, andwhen advanced resource accounting concepts are ofhigh topical interest, a broad systematic diagnosticapproach for evaluation is needed. It's hoped thisframework contributes to the satisfaction of thisneed.

James W. Walkeris a consultant in human resource planning and develop-ment at T owers, Perrin, Forster & Crosby, In c. H e assistsclient organizations worldwide in the development and im-provement of processes for effective development and utili-zation of talent. Formerly, he was an Assistant Professorof Management, Director of the Bureau of Business andEconomic Research, and Editor of Business Inquiry at SanDiego State College.


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REFERENCESAlexander, Michael O., "Investment in People," The Cana-dian Chartered Accountant, July 1971.Bassett, Glenn A., "Employee Turnover Measurement andHuman Resource Accounting," Human Resource Man-

agement, Fall 1972, pp. 21-30.Brummet, R. Lee, William C. Pyle, and Eric G. Flamholtz,"Human Resource Accounting in Industry," PersonnelAdministration, Julv-August 1969, pp. 34-46.Burack, Elmer H. and James W. Walker (Eds.), ManpowerPlanning and Programming, Boston: A llyn & Bacon,1972.Cheek, Logan, "Cost-Effectiveness Comes to the PersonnelFunction," Harvard Business Review, May-June 1973.Flamholtz, Eric G., "A Model for Human Resource Valu-ation: A Stochastic Process with Service Rewards," Th eAccounting Review, April 1971.Flamholtz, Eric G., "Should Your Organization Attempt toValue Its Human Resources?" California ManagementReview, Winter 1971, pp. 40-45.Flamholtz, Eric G., "Toward a Theory of Human ResourceValue in Formal Organizations," The Accounting Re-view, October 1972, pp. 666-678.Gordon, Michael E., "Three Ways to Effectively EvaluatePersonnel Programs," Personnel ]oumal, July 1972.Greiner, Larry, "Evolution and Revolution as OrganizationsGrow," Harvard Business Review, July-August 1972,pp . 37-46.Lee, J. Finley, F. H. Barron, and Jerry S. Rosenbloom,"Evaluating and Protecting Human Resources," Finan-cial Executive, March 1972.Likert, Rensis, "The Human Organization: Its Manage-ment and Value," New York, McGraw-Hill Book Co.,1967.Likert, Rensis and David G. Bowers, "Improving the Ac-curacy of P/L Reports by Estimating the Change inDollar Value of the Human Organization," MichiganBusiness Review, March 1973, pp. 15-24.Pyle, Wiliam C, "Monitoring Human Resources'OnLine'," Michigan Business Review, July 1970, pp. 19-32.Rohan, Thomas, "Who's Worth What Around Here?"Industry Week, November 6, 1972, pp. 19-26.Stone, Florence, "Investment in Human Resources atAT&T," Management Review, October 1972, pp. 23-2 7.Thomas, B., J. Moxham, and J. Jones, "A Cost-BenefitAnalysis of Industrial Training," British Journal of In-dustrial Relations, July 1969, pp. 231-264.Walker, James W., "Manpower Planning: How Is ItReally Applied?" European Business, January 1973 app . 72-78.Walker, James W., "Individual Career Planning," BusinessHorizons, February, 1973 b, pp. 65- 72.Waters, James G., "A Practical Application of Human Re-source Accounting Techniques," Personnel Adm inistra-tion, May-June 1972, 41-47.



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