Navigating the Complexity of HRM Practice: A Multiple-Criteria Decision-Making Framework

Vuk Mirčetić (), Gabrijela Popović, Svetlana Vukotić, Marko Mihić, Ivana Kovačević, Aleksandar Đoković and Marko Slavković
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Vuk Mirčetić: Faculty of Applied Management, Economics and Finance, University Business Academy in Novi Sad, Belgrade 11000, Serbia
Gabrijela Popović: Faculty of Applied Management, Economics and Finance, University Business Academy in Novi Sad, Belgrade 11000, Serbia
Svetlana Vukotić: Faculty of Applied Management, Economics and Finance, University Business Academy in Novi Sad, Belgrade 11000, Serbia
Marko Mihić: Faculty of Organisational Sciences, University of Belgrade, Belgrade 11000, Serbia
Ivana Kovačević: Faculty of Organisational Sciences, University of Belgrade, Belgrade 11000, Serbia
Aleksandar Đoković: Faculty of Organisational Sciences, University of Belgrade, Belgrade 11000, Serbia
Marko Slavković: Faculty of Economics, University of Kragujevac, Kragujevac 34000, Serbia

Mathematics, 2024, vol. 12, issue 23, 1-21

Abstract: A myriad of diverse factors affect the contemporary business environment and all business areas, causing organisations to innovate new business models, or to use innovations to navigate the complexity of contemporary HRM practice successfully. Despite the plenitude of notable studies, a particular theoretical gap exists regarding the innovation’s impact on particular HRM practices and on understanding how multiple-criteria decision-making (MCDM) methods can be effectively applied in the context of human resource management (HRM) to address important aspects of successful practices and prioritise the considered alternative solutions. Recognising the potential of the MCDM field highlighted the possibility of involving the MCDM methods in detecting the most influential and innovative HRM practices and defining the rank of companies that are most successful in applying them. The innovative MCDM approach proposed here utilises the CRITIC (CRiteria Importance Through Intercriteria Correlation) method and PIPRECIA-S (Simple PIvot Pairwise RElative Criteria Importance Assessment) method for prioritising innovative HRM practices, and the COBRA (COmprehensive Distance Based RAnking) method for assessing the companies under evaluation. The research, which involved 21 respondent experts from the HRM field and 12 companies from the Republic of Serbia, revealed that employee participation is the most significant innovative HRM practice that yields the best results in the contemporary business environment. Consequently, the first-ranked company most successfully met the requirements of the innovative HRM practices presented.

Keywords: human resource management; innovations; MCDM; CRITIC; PIPRECIA-S; COBRA; HRM; ranking; contemporary business environment (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2024
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