HR Practices, Risk Management, Planning and Employees Perceived Performance of Family-Owned Businesses

HR Practices, Risk Management, Planning and Employees Perceived Performance of Family-Owned Businesses

Estorninos, Meg A. and Castino, John Michael P.

Notre Dame of Dadiangas University, Philippines

DOI: https://dx.doi.org/10.47772/IJRISS.2024.808092

Received: 13 August 2024; Accepted: 23 August 2024; Published: 31 August 2024

ABSTRACT

This study determined the relationships of human resource practices, human resource risk management practices, human resource planning practices and employee perceived performance in family-owned businesses in General Santos City a highly urbanized city in the Philippines. The study used quantitative and qualitative research methods. Descriptive survey and correlational design were used employing quantitative method. The data were gathered through 300 respondents. Key Informant Interviews were conducted to corroborate the discussion of the results of the study as the qualitative data. The data gathered were analyzed through frequency, percentage, weighted mean, spearman correlation, and multiple linear regression analysis. The findings of the study revealed that there is low positive correlation between human resource practices and employee perceived performance (Ho₁). There is a low positive correlation between human resource risk management practices and employee perceived performance (Ho₂). There is a significant moderate positive correlation between human resource planning practices and employee perceived performance (Ho₃). Human resource practices, human resource risk management practices, human resource planning practices have significant effects on employee perceived performance (Ho₄). Given the overall results, the local and national agencies such as may refer to the results of this study and may come up with a policy revision exclusively for the family-owned businesses. The human resource management and development program which are formulated based on the findings of the study should be adopted by the family-owned businesses in General Santos City.

INTRODUCTION

A family-owned business is a profitable organization in which management is influenced by multiple generations of family members, either related by blood or by law, who have an equal ability to influence the vision of the organization and the disposition to use the ability to follow distinctive objectives (De Massis, Koltar, Chua, & Chrisman, 2014). They are carefully recognized with the firm through management and possession. Thus, human resource management practices in family-owned enterprises present an array of challenges and issues (Soriano, 2020).

Human resource management concentrates on dealing with individuals and describes the utilization of manpower in achieving organizational objectives including the fulfilment of individual’s needs through policies and practices. Due to the strong family involvement, commitment to the localities, overlap between financial and nonfinancial goals, and a deeply-ingrained business culture based on the family founders’ values, establishing an effective recruitment process is even more important in family-owned than in non-family firms (Paul & Kleiner, 2017).

Human resource management has been defined as the process of attracting, developing, and maintaining a talented and energetic workforce to support organizational mission, objectives, and strategies (Schermerhorn, 2011).

Audretsch and Thurik (2010, 2011) argued that effective human resource practices are becoming increasingly important in the modern knowledge-based economy, as companies face the double challenge of the need for more highly-trained employees coupled with the shortage of qualified labor. They added that these challenges, coupled with the third trend toward smaller firms in general, reinforce the need for effective human resource practices.

Human resource risk is the probability of unfavorable events’ and threats’ occurrences coming from people as a result of decision making. It plays an increasing role in the companies’ activities. Threats of this type are of complex nature and are also called anthropogenic. Risk realization leads to the loss of important confidential information, commercial losses, profits’ losses, and a decline in the company’s goodwill. Adequate reduction of personnel risks will improve the personnel quality and, consequently, reduce the damage from the risk threats’ realization (Kraev & Tikhonov, 2019).

Human resources have two roles in risk management. First, people are a source of risk such as shortage of employees, people doing sloppy work, an employee refusing to take on additional responsibility, or a key employee leaving two months after a one-year training program. Second, people are important in handling risk such as people using their ingenuity to solve unexpected problems, employees going the extra mile for the goof of the organization, a key employee redesigning her own job to avoid unnecessary delays in getting work done, or an employee persuading a talented friend to apply for a position in the business (Erven, 2012).

Smaller family businesses do not escape the impact of people. In these businesses, as in larger businesses, people are a cause of risk and are important to the business’ vital success or failure. Overdependence on family members for management and labor negatively affects family business effectiveness and efficiency. A family may have highly talented people in one management or labor area but fall short in another area. Confronting human resource risk may take the family business outside its usual boundaries to fill significant labor and management gaps (Erven, 2012).

Performance management helps the organization in ensuring that employees are working hard in attaining the organization’s mission and objectives. It sets the expectations for employee performance and motivates employees to work hard in ways that are expected of the organization.

Human resource planning also termed as manpower planning defined as process of assessing as to how an organization should change from the current human resource position to its preferred position. It is a practice of an organization to ensure it has the right number of people, right kind of people at the right place at the right time for which they are suited for the achievement of the goals of the organization.

Manpower planning is the strategy for acquisition, utilization, improvement and preservation of an enterprise’s human resources. It relates to establishing the quantitative requirements of jobs, determining the number of personnel required, and developing sources of manpower. Human resource planning may be viewed as foreseeing the human resource requirements of an organization and the future supply of human resources and making necessary adjustments between these two and organization plans, and foreseeing the possibility of developing the supply of human resources in order to match it with requirements by introducing necessary changes in the functions of human resource management. Here, human resource means skill, knowledge, values, ability, commitment, motivation, in addition to the number of employees. Though accomplishment of organizational objectives and goals is the primary concern of the human resource planning, concern for the aspirations of the people and their well-being has equal importance in it (Pandey, 2016).

The Philippine business setting is categorically dominated by family-owned businesses. Family enterprises are a main potency that largely adds to the economic success of the country (Bragagni, 2023). However, family-owned businesses are not without their own distinctive set of challenges. Found within these businesses are distinct and complex working relationships that produce certain weaknesses which cause permanent damage if left untreated (Irving, 2023). These pertain to existing familial tension, arguments over roles, decision-making, compensation, and involvement of family members, and the different preferences of each generation in terms of leadership and strategy (Soriano, 2020).

According to the former corporate secretary of General Santos Chamber of Commerce, the usual problem of family business in General Santos City is the need to have family code that somehow affects the human resource practices, risk management, planning practices, and employee performance. Family-owned businesses hire consultants to assist in the business operations by creating a family code of conduct (R. Velasquez, personal communication, May 3, 2021).

Given these difficulties, it was determined that conducting this study was crucial to understanding the human resource practices of family-owned enterprises from the perspectives of promotion, performance evaluation, and compensation. The researchers also took into account the risk management of these family-owned businesses from the perspectives of operating these businesses, putting business strategy into practice, comprehending trends in the business environment, people, and corporate culture, and complying with the law. The researchers also wanted to look into how these companies were using human resource planning in terms of hiring and retaining employees. In addition, the researchers were interested in examining the task performance, contextual performance, and counterproductive behaviours of the employees.

In capsule, this study determined the relationships of human resource practices, human resource risk management practices, human resource planning practices and employee perceived performance in family-owned businesses.

As previously cited, human resource practices and risk management coupled with sound planning practices were indispensable in employee performance towards organizational effectiveness and efficiency. Thus, this study was conducted with the hope that it will lead to the crafting of a human resource management and development program for the covered family-owned business.

Statement of the Problem

The purpose of this study was to ascertain the significant effects of the links between employee perceptions of performance in family-owned firms in General Santos City and human resource practices, risk management strategies, and planning methods.

Specifically, it answered the following questions:

1. How far do family-owned firms go with their HR policies in terms of:

a. Compensation; b. Performance evaluation; and c. Promotion practices?

2. How much do human resource risk management practices cover the following areas:

a. Compliance with legislation; b. Understanding trends in the business environment; c. People and corporate culture; d. Implementing business strategy; and e. Carrying out operations?

3. To what degree do family-owned enterprises implement HRP principles in relation to:

a. Employee attraction; and b. Employee retention?

4. What is the perceived performance level of the employee in relation to:

a. Task performance; b. Contextual performance; and c. Counterproductive behaviors?

5. Is there a significant relationship between:

a. Human resource practices and employee perceived performance;

b. Human resource risk management practices and employee perceived performance; and

c. Human resource planning practices and employee perceived performance?

6. Is there significant effects of human resource practices, human resource risk management practices and human resource planning practices on employee perceived performance?

7. Based on the findings, what human resource management and development program for the family-owned businesses in General Santos City could be designed?

METHODS

This study is quantitative in design using survey questionnaire in gathering data. Descriptive-evaluative method of research is a fact-finding study with adequate and accurate data to support the findings of this study. The method describes with emphasis on what actually exists such as current conditions, situations or any phenomena. Descriptive design also seeks to determine relationships between variables, tests, hypotheses, explores causes of phenomena and develops generalization (Best & Kahn, 2005).

Descriptive-evaluative method was utilized since the study determined the extent of the human resource management practices, human resource risk management, human resource planning practices and employees perceived performance. In this process, the researchers utilized survey questionnaire for the gathering of data and conducted documentary analysis. A self-made questionnaire was developed, validated, and administered to the target respondents. The questionnaires were retrieved, collated, and analyzed. All data gathered were analyzed, interpreted, processed, and presented using the appropriate statistical tools.

The respondents were selected in the study through a complete enumeration method. The respondents include the CEOs, the Human Resource Officers, and the selected employees of the Small Medium Enterprise family-owned business in General Santos City. They were selected since they have direct knowledge of the operations of their respective businesses. In the cross-validation process, the Human Resource Officers and the CEOs served as the key informant interviewees. The respondents were asked to answer the items included in the survey questionnaire, while the selected key informants answered questions during the interview.

An interview guide was formulated and administered to the key informants. The questions in the guide were designed to validate the findings based on the appreciation of the CEOs and the employees. The interview guide included questions concerning comments out of the problems encountered by the respondents and questions that cannot be interpreted by numerical indices like questions on feelings and meanings they attached to their experiences in the area of human resource management.

Data for the test results were statistically treated using cronbach’s alpha to measure internal consistency, that is, how closely related a set of items are as a group.  It is considered to be a measure of scale reliability.

The SPSS version 20 was used to test the reliability of the questionnaire. The results showed the alpha coefficient for human resource practices in three indicators namely: compensation, performance evaluation, and promotional practices were 0.878, 0.898 and 0.799 respectively. Human resource risk management practices alpha coefficient in five indicators namely: compliance with legislation, understanding trends in business environment, people and corporate culture, implementing business strategy, and carrying out operations were 0.932, 0.907, 0.873, 0.857, and 0.836 respectively. The alpha coefficient for human resource planning practices in two indicators namely: employee attraction, and employee retention were 0.918, and 0.961 respectively. The employee perceived performance alpha coefficient in three indicators namely: task performance, contextual performance, and counterproductive behaviors were 0.917, 0.934, and 0.928 respectively. Overall the alpha coefficient for the sixty-six (66) items was 0.895. Meaning, all items have relatively high internal consistency.

The measures for this study were adopted from Bowra et al., (2011); Meyer et al., (2011); Bailey Clark (2013); and Tria and Rahmat (2018). The first measures include compensation practices, performance evaluation and promotion practices (Bowra et al., 2011). The second measures include compliance with legislation, understanding trends in the business environment, people and corporate culture, implementing business strategy, and carrying out operations (Meyer et al., 2011). The third measures include employee attraction; and employee retention (Bailey Clark, 2013). And the fourth measures include task performance, contextual performance, and counterproductive behaviors (Tria and Rahmat, 2018). The main reason for adopting these measures was that they have proven internal consistency. The variables consisting of employee perceived performance, human resource practices, risk management and planning practices will be measured by items as specified in the questionnaire.

In this study, to calculate the exact relationship and nature of the relationship, the spearman’s correlation and multiple regression analysis were used. The prime reason for adopting these techniques was to test hypothesis as described earlier while other reason was that in order to investigate the relationship between employee perceived performance and HR practices; Employee perceived performance and HR risk management; and Employee perceived performance and HR planning practices.

Interviews with key informants were conducted to supplement or corroborate the data gathered from the survey questionnaires. The data was used to enrich the interpretations of the findings of the study.

RESULTS

The following are the results of the study:

1. The human resource practices of the family-owned businesses in General Santos City are highly extensive (x̄ = 74). Specifically, compensation (x̄ = 3.78), performance evaluation (x̄ = 3.77), and promotion practices (x̄ = 3.66) are highly extensive.
2. The components of human resource risk management practices in terms of compliance with legislation (x̄ = 4.17), understanding the trends in the business environment (x̄ = 3.93), people and corporate culture (x̄ = 3.86), implementing business strategy (x̄ = 3.99), and carrying out operations (x̄ = 3.91) are all highly extensive. Generally, the human resource risk management practices of the family-owned businesses in General Santos City are highly extensive (x̄ = 97).
3. The human resource planning practices of family-owned businesses in General Santos City are highly extensive (x̄ = 85). Specifically, employee attraction (x̄ = 3.84) and employee retention (x̄ = 3.86) are both highly extensive.
4. The employee perceived performance in the family-owned businesses in General Santos City, specifically task performance (x̄ = 4.32) is very highly extensive, while contextual performance (x̄ = 4.16) is highly extensive. On the contrary, counterproductive behaviors (x̄ = 65) is least extensive.
5. There is a low positive correlation with an r value of 0.318 (sig. = 0.000) between human resource practices and employee perceived performance.
6. There is a low positive correlation between human resource risk management practices and employee perceived performance. The correlation has an r value of 0.395 (sig. = 0.000).
7. There is a significant moderate positive correlation between human resource planning practices and employee perceived performance with the r value of 0.531 (sig. = 0.000).
8. Finally, human resource practices, human resource risk management practices, and human resource planning practices, when loaded together have significant effects on employee perceived performance in the family-owned businesses in General Santos City. It has an r value of 0.468. 

DISCUSSION

The following discussions were made out of the findings of the study:

1. There was low positive correlation between human resource practices and employee perceived performance. The positive correlation indicates that when human resource practices is high there is a corresponding high level of employee perceived performance. Consequently, when the human resource practices are low, one could expect that there will be lower level of employee performance. Thus, the null hypothesis (Ho₁) which states that there is no significant relationship between human resource practices and employee perceived performance is rejected.
2. There was a low positive correlation between human resource risk management practices and employee perceived performance. Again, this positive correlation between human resource risk management practices and employee perceived performance indicates that in family-owned businesses in General Santos City, the higher the extent of human resource risk management practices then the higher is the employee perceived performance. Thus, the null hypothesis (Ho₂) which states that there is no significant relationship between human resource risk management practices and employee perceived performance is rejected.
3. There was a significant moderate positive correlation between human resource planning practices and employee perceived performance. This positive correlation indicates that the human resource planning practices will result to positive employee performance. Thus, the null hypothesis (Ho₃) which states that there is no significant relationship between human resource planning practices and employee perceived performance was rejected.
4. Human resource practices, human resource risk management practices, human resource planning practices have significant effects on employee perceived performance. Thus, the null hypothesis (Ho₄) which states that there is no significant effect of human resource practices, human resource risk management practices, and human resource planning practices on employee perceived performance was rejected.

RECOMMENDATIONS

The findings of the study reveal that there are significant relationships of human resource practices, human resource risk management practices, and human resource planning practices on employee perceived performance. However, some areas of concern or focus have to be highlighted for the CEOs and Human Resource Management Development Officers to improve employee performance. Hence, the following are recommended:

1. The business owners based from the first result of the study may improve their human resource practices through sound compensation, performance evaluation, and promotion practices for improved employee performance which will provide competitive advantages in the marketplace.
2. There should be a reduction of human resource risks through effective human resource risk management since these are highly extensive in the family-owned businesses in General Santos City which will improve the human resource quality and also reduce the damage from the risk threats.
3. The firm may carry out manpower audit and planning to determine in advance the demand and supply situation in the labor market prior to recruitment of employees. Since human resource planning practices of family-owned businesses in General Santos City are highly extensive, this is to provide a sound employee attraction program.
4. The company may create a practicable human resource planning that will improve employee performance and customer service quality, as well as potentially reduce employee turnover. This will address the concern on employee retention based from the findings of the study.
5. There are factors to consider to improve employee performance through functional flexibility in human resource management in terms of human resource practices flexibility, employee skills flexibility, and employee behavior flexibility.
6. There are aspects to consider to develop employee performance like the implementation of organizational communication in terms of interpersonal communication context, group communication, and organization context.
7. The family-owned businesses should have a “family code of conduct” for the employed family member since there is a low positive correlation between human resource practices and employee perceived performance.
8. The implementation of the proposed human resource management and development program for the family-owned businesses must be considered by the CEOs and Human Resource Management Development Officers of the firms covered in this study.
9. The Local Government Unit, City Economic Management Cooperative Development Office, Department of Trade and Industry, and People Management Association of the Philippines may refer to the results of this study and may come up with a policy revision exclusively for the family-owned businesses.
10. Future researchers may consider doing a research of this kind to investigate other factors affecting employee performance.

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