Thus, research designs that incorporate a single or narrow perspective of organizational effectiveness are unlikely to accurately explicate or evaluate the primary linkages of SHRM research. Dyer and Reeves (1995) suggested four defensible dimensions of organizational effectiveness for SHRM research: (i) HR outcomes (e.g., employee/workforce behaviors);
(ii) organizational outcomes (e.g., productivity; quality; service); (iii) financial accounting outcomes (e.g., return on investment; profitability); and (iv) for publicly held organizations, capital market outcomes (e.g., stock value; shareholder return).