The Influences of Human Resources Practices on the Well-Being of the Companies Listed on the SET
Keywords:
Human Resource Practices, Organizational Well-Being, SET-Listed CompaniesAbstract
This article was aimed at examining the influences of human resources practices on the wellbeing of the companies listed on the stock exchange of Thailand (SET). It employed quantitative research approach and data were collected by questionnaire from the companies listed on the stock exchange of Thailand that received the good governance scores at the level of “Good”, “Very Good”, and “Excellent” during 2016 – 2018. Questionnaires were distributed to 276 companies by postal mails and emails. The data analysis was performed by structural equation modelling. The results revealed that recruitment and selection, training and development, and performance evaluation and promotion were statistically significant at the 0.05 level. Likewise, psychological wellbeing and social wellbeing demonstrated statistical significance at the 0.05 level. In addition, the results obtained from the analysis of structural equation modelling indicated that the goodness-of-fit test was perfect through accepted 6 indices: x2/df = 1.235, p-value = 0.102, GFI = 0.902, CFI = 0.987, RMSEA = 0.049, and SRMR = 0.058. Besides, when it came to the test of the relationship between human resources practices and the wellbeing of the companies listed on the stock exchange of Thailand, it was found that human resources practices could explain the variances of the wellbeing of the companies listed on the stock exchange of Thailand by 98.6 percent with the statistical significance at the 0.01 level.
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