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AbstractThis paper examines how, in times of austerity, employee capabilities can assist firms in augmenting their human capital and at the same time meeting their financial obligations. Real option theory, a concept borrowed from economics, is used to provide a theoretical framework to demonstrate that management has choices when making decisions in times of austerity. The framework provides a means of understanding how decisions can be made to both maintain employee capabilities and at the same time focus on company profit maximisation, typically demanded by shareholders in times of austerity. The study establishes the benefits of a continuous approach to capability development in an environment of economic turbulence. Most importantly, it paves the way for future research in this increasingly critical area.

Purpose– The purpose of this paper is to investigate attitudes toward interacting with foreign nationals from emerging and developed markets. Differences in attitudes are assessed using liability-of-foreignness factors.Design/methodology/approach– Purposive sample collected at a private university in Australia; hierarchical linear modeling approach examines differences across regions of Australia, Asia, Middle East, Europe, and North America; Type 2 moderated mediation procedures.Findings– Findings argue for variations across individual difference variables relative to the inclination to interact with emerging markets foreign nationals. Europeans' willingness to interact with emerging market foreign nationals is diminished with high levels of tendency to stereotype, whereas North Americans' willingness to interact with developed market foreign nationals is enhanced with high levels of tendency to stereotype.Research limitations/implications– Use of self-reported measures may limit validity and generalizability; cross-sectional data; common method variance.Practical implications– A greater consideration of cultural diversity inherent in the workforce allows for diminished adjustment difficulties. Acknowledgment and contextualization of diversity is not an option but a necessity upon which organizations must act to reach their fullest potential in respective foreign locations.Social implications– Supports greater respect for social and cultural beliefs, norms, and values. Respect has implications for relationships and performance.Originality/value– Content presents diversity issues within global organizations on their quest to employ global talent.

Purpose– The purpose of this paper is to analyze the rationale for choice of suppliers and the influence these decisions have on the firm's capabilities.Design/methodology/approach– The authors examine the choice of in-house operations vs buying maintenance in the Swedish mining industry through a qualitative case study approach.Findings– The findings reveal a strong tendency to outsource maintenance.Research limitations/implications– This in turn has a strong influence on the firm's capabilities and long-term competitive advantage and sustainability.Practical implications– Based on the empirical findings, the authors comment on the strength and weaknesses of the different outsourcing and attempt to find practical solutions that assist the firm in creating competitive advantage.Originality/value– The unique contribution of this study is that it extends prior firm capabilities studies by investigating the impact of capability loss specifically in complex, intricate maintenance processes in a dynamic industry.

PurposeThis conceptual work examines how, in times of post-COVID-19 paradigm shift, the employee performance management (PM) process can help multinational corporations (MNCs) strengthen their talent management and, at the same time, meet their future needs.Design/methodology/approachWe take a conceptual approach and present our perspective on what we see as the most critical trends shaping PM and talent management. Contingency theory and Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) theory provide a sound theoretical framework for understanding and responding to the complex and rapidly changing business context post-COVID-19.FindingsDrawing on these theories, we create a framework providing a means of understanding why and how MNCs can maintain talent and, at the same time, develop new talent through the PM process.Practical implicationsImportantly, our study emphasizes the critical role that project management and talent management techniques play for both practitioners and scholars. In order to gain and sustain a competitive edge in the ever-changing VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) landscape, these processes necessitate ongoing reassessment and adaptation. As Plato eloquently stated, "Our Need Will Be the Real Creator," encapsulating our vision for the proactive and dynamic nature of effective project management and talent management practices.Originality/valueThe study establishes the benefits of an agile and flexible PM approach to help develop talent and pave the way for future research in this increasingly critical area