Flexible Benefits as a Strategic Tool: Supporting the Use of Human Resources as a Distinctive Competency
Changes in marketplace competitiveness have forced the small business owner to recognize the benefits of implementing sound management principles. Two areas of management that have gained increasing attention in the small business research are business strategy and human resource management. This paper suggests that smaller firms can gain a competitive edge through developing a distinctive competency in the human resource area. One human resource tool, flexible benefits plans, is described and a strategic model is suggested that outlines how they can be used to help develop a firm 's human resources as a distinctive competency.
Cost management works in flexible benefits plans. (1987). Employee Benefit Plan Review, 42, 64-70.
Flexible benefit plans and the small business. (1990). Broker World, March, 44-46.
Flexible benefits will they work for you? (1985). Chicago, Commerce Clearing House, Inc. Finlayson, Roben A. (1986). Study flex plans to avoid costly mistakes. Business Insurance, 20, 3-4.
Foster Jr.,Ronald M. (1986). This manager' s guide to employee benefits. New York: Facts on File Publications.
Fundamentals of employee benefit programs. 3rd edition. (1987). Washington, DC.:Employee Benefit Research Institute.
Few small and midsized businesses offer tax-saving 'flexible' employee benefit plans. (1991).
Grant Thornton Accountants and Management Consultants.
Hornsby, Jeffrey S. and Kuratko, Donald F. (1990). Human resource management in small businesses: Critical issues for the 1990s. Journal of Small Business Management, 28, 9-18.
Homsby,Jeffrey S., Kuralko,Donald F.,and Wallingford,Catherine A. (1991). Flexible benefit plans in smaller firms. Compensation and Benefits Management, 7, 14-20.
Johnson, Richard E. (1986). Flexible benefits-A how-to guide. Brookfield, WI.: International Foundation of Employee Benefit Plans.
Karnerman, Sheila B. & Alfred J. Kahn. (1987). Thi! responsive workplace. New York.: Columbia University Press.
McCaffery, Roben M. (1988). Employee benefit programs: A total compensation perspective.
Boston, MA.:PWS-Kent Publishing Company.
McEvoy, Glenn M. (1983). Personnel practices in smaller firms: A survey and recommenda tions. American Journal of Small Business, 8, 32-39.
Miller, Danny and Toulouse, Jean-Marie. (1986). Strategy, structure, CEO personality, and performance in small firms. American Journal of Small Business, 10, 47-62.
Naffziger, Douglas W. and Kuratko, Donald F. (1991). An investigation into the prevalence of planning in small business. Journal of Business and Entrepreneurship, 3, 99-110.
Orpen, C. (1985). The effect of long range planning on small business perfonnance: A further investigation. Journal of Small Business Management, 23, 16-23.
Porter, Michael E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. New Yort: Free Press.
Robinson, R. B. and Pearce, J. A. (1984). Research thrusts in small finns sttategic planning. Academy of Management Review, 9, 128-137.
Schuler, Randall S.,Beut.ell,NicholasJ.,and Youngblood, Stuart A. (1989). Effective personnel management , SL Paul, MN: West Publishing:
Schuler, Randall S. and Jackson, Susan E. (1987) Linking competitive sttategies with human resource management practices. The Academy of Management Executive, l, 207-219.
Sexton, D.L. and Van Aul
Stoner,Charles R. and Fry, Fred L. (1987). Stralegic planning in the small business. Cincinnati, OH :Southwestern Publishing.
Swanson, Robert D. (1984). Compensation options for small business managemenL Journal of Small Business Management, October, 31-38.