Moving toward stakeholder-based HRM: a perspective of Italian HR managers

HR practices that look beyond focusing mainly on shareholders' interests to include a wider group of stakeholders are likely to result in a more effective HR system. This work examines Italian HR managers' perspectives of stakeholders and their perceived salience, based on data collected from 30 HR managers from the highest capitalization companies in the Milan Stock Exchange. The Mitchell, Agle and Wood model of stakeholder salience is applied to classify the stakeholders of the HR system into four clusters: definitive, dependent, discretionary and non-stakeholders. The results are discussed with reference to the body of knowledge on strategic HRM, putting forward specific managerial implications and proposing avenues for further research.