Great Places to Work^®: Resilience in Times of Crisis

Abstract

We study the resilience of the “100 Best Companies to Work for in America” in times of financial crisis by analyzing their long‐term financial performance. Apart from implementing methods that tackle the statistical problems of stock returns, we use a conditional model to measure financial performance in periods of market growth (bull markets) and market downturn (bear markets). We find that best places to work are indeed resilient in times of crisis since neither their financial performance nor their systematic risk are affected during bear markets: top companies continue to outperform the market during periods of crisis, and the performance of lower‐ranked great workplaces does not deteriorate. Moreover, we find that previous studies were overestimating performance, and only great workplaces on the top half of the rankings exhibit positive excessive returns. © 2015 Wiley Periodicals, Inc.

Employer Branding: A Brand Equity‐based Literature Review and Research Agenda

“…Finally, a last group of studies on employer branding strategies discusses the effect of best employer studies, i.e. benchmarking of leading employers against specific criteria to advertise their employer brand, thereby accentuating employer familiarity and image attributes (see also Carvalho and Areal Love and Singh ). Best employer studies are assumed to serve as a complementary branding strategy through their high degree of publicity as a signaling effect (Love and Singh ).…”

“…To date, very few approaches exist that try to link employer branding strategies to financial market performance (e.g. Carvalho and Areal Fulmer et al . ; Güntürkün et al .…”

Many Hands Lighter Work? Deciphering the Relationship between Adverse Working Conditions and Organization Citizenship Behaviours in Small and Medium‐sized Enterprises during a Severe Economic Crisis

“…First, research to date has focused on various aspects of AWCs (e.g. Baumert et al ., ; Carvalho and Areal, ; Cottini and Lucifora, ; Psychogios and Garev, ; Rugulies et al ., ; Shah et al ., ; Sparrow, Hird and Cooper, ), without, however, attempting to define this construct or develop and validate a measurement scale. Our study develops and validates a scale for AWCs in order to examine the role of AWCs in the discretionary effort of employees working in SMEs operating under economic crisis.…”

“…Baumert et al ., ; Cottini and Lucifora, ; van Emmerik, ; Hemstrom, ; Rugulies et al ., ). In addition, research on working conditions within the context of organizational crisis has focused on the direct consequences on employees (Mellahi and Wilkinson, ; Prouska and Psychogios, ; Psychogios, Brewster and Parry, ; Shah et al ., ) and human resource (HR) responses (Carvalho and Areal, ; Erburu, Ruz and Arboledas, ; Sparrow, Hird and Cooper, ).…”

Resilience and the (micro-)dynamics of organizational ambidexterity: implications for strategic HRM

“…Resilience, and the need to develop this capacity, is often portrayed against a backdrop of ever-increasing and intensifying rates of change and activity in the modern world (Wilson and Ferch, 2005;Shin, Taylor & Seo, 2012;Duchek, 2014;King, Newman & Luthans, 2015;Bustinza et al 2016). Moreover, it has been invoked as a necessary responsive characteristic to various situations including, for example, personal, political, financial, terrorist, resource (for instance, energy) and environmental (for example, climate change) crises (Fiksel et al 2015;Carvalho and Areal, 2016). Therefore, overall, it is important to note that the topic of 'resilience' has been typically associated with 'extreme' contexts -in other words resilience is evoked primarily in relation to intense, major or heightened situations (Seligman, 2011;Wang, Cooke & Huang, 2014;Schultz & van der Walt, 2015;Badran & Youssef-Morgan, 2015;Cooke et al, 2016;King et al, 2016).…”