Hidden Cost Management Model for the Continuous Improvement of Human Resources

Abstract

Proper identification and quantification of hidden costs of human resource management contributes to increasing business management effectiveness. Currently, in many companies the hidden costs are not reflected in their financial balance sheets, or in their financial records. The objective is to analyze the results of the application of a hidden cost management model for the continuous improvement of human resources in the hotel sector. The expectations and needs of customers have been taken into account at all times and the social and economic elements of socio-economic management have been integrated to contribute to the development of service quality in the hotel sector. Different techniques and tools have been used, such as the checklist, the balanced scorecard, the SERVQUAL model and an empirical study of which a factor analysis was carried out as a data reduction method, to obtain the correlations between more of the 57 observable variables. This study will allow reaching higher levels in job performance, in addition to an increase in work productivity and quality of service.

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