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This paper sheds light on the relevance of socially responsible human resource management (SR-HRM) and its link to the generation of value for companies. Based on the synergistic assumptions of the configurational approach, the article tests the association of SR-HRM policies on intellectual capital (IC) dimensions (human, social and organizational capital). A cluster and structural equation modelling analysis on a sample of 85 human resource (HR) managers confirms that companies implementing socially responsible HR policies could experience a greater increase in IC levels than other companies. This process facilitates the sustainable development of organizations through the enhancement of IC value and stakeholder engagement among employees as a main group of interest. KEYWORDS corporate social responsibility, human resource management, intellectual capital, socially responsible human resource management, stakeholder engagement, sustainable development

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The current recession has caused a large number of companies to reevaluate their valuable resources and ways to preserve and invest those resources. Given the relevance of employees as key stakeholders, developing a socially responsible orientation in human resource management for taking care of workers and their needs must be an essential process for business success. This study, based on stakeholder theory and a social integrative approach, examines the main drivers and barriers in the implementation of socially responsible actions in human resource management. The research uses a quantitative analysis based on questionnaires responded to by 85 human resource managers from large Spanish companies. We conclude that there are two significant drivers of socially responsible actions in human resource management (HRM): access to public subsidies and the improvement of the working environment. The main significant barriers highlighted by human resource managers are conflicts in decisions with boards and/or management teams and the lack of employees' acceptance. The professional implications of the research are discussed at the end of the paper.

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