Measuring organizational performance in strategic human resource management: Problems, prospects, and performance information markets

A major challenge for Strategic Human Resource Management research in the n ext decade will be to establish a clear, coherent and consistent construct for organizational performance. This article describes the variety of measu res used in current empirical research linking human resource management an d organizational performance. Implications for future research are discusse d amidst the challenges of construct definition, divergent stakeholder crit eria and the temporal dynamics of performance. The concept of performance i nformation markets that addresses these challenges is proposed as a framewo rk for the application of multi-dimensional weighted performance measuremen t systems. "What are you doing?" inquired the policeman of the drunk crawling on the p avement under the glow of a lamppost. "I am looking for my quarter," came t he reply. "Where did you lose it?" asked the officer helpfully. "I dropped it over there by that payphone," retorted the drunk. Incredulous, the offic er asked; "Then why are you looking in the middle of street?" "Because ther e is more light over here," he replied with his nose nearly to the ground.