This paper aims to add to the body of knowledge about the influence of the shareholder value on people management practices, with emphasis on the production environment. The paper begins with an overview of the origins and fundaments of finance and value generation concepts for company shareholders, with the main focus on the increase of share prices. An analysis is then made of the interface between these concepts and people management practices, exploring the bidirectional nature of this interface, since the human resources function is not only influenced by company guidelines but is also considered one of the main forms for helping disseminate it, in view of its role as an agent of change in company behavior. As such, the three main elements are examined, which, according to the literature, comprise this interface: variable compensation, performance management and work autonomy. Lastly, a multiple case study is presented to verify how the financial concept of companies has been influencing these people management practices at the production level of companies operating in Brazil, and to what extent these practices have contributed to disseminate the shareholder value mentality. The findings of this study indicate that, at the conceptual level, the influence of shareholder value on people management practices is indisputable, but that in practice its effect is still only minor, although changes in this direction are already occurring.
Shareholder value; Managing for value; Human resource management; Work performance; Autonomy at work; Variable income
