SHRM Foundation Research Human Capital, Consumer, and Financial Risk: The Buffering Effects of Collective Employee Attitudes Funded: October 2012 Expected Completion: October 2014 Robert E. Ployhart, Ph.D., Darla Moore School of Business, University of South Carolina and William Shepherd, Ph.D., SPHR, Senior Vice President & Director – Talent and Organizational Effectiveness Abstract This study examines how collective employee attitudes help reduce three types of risk: human capital (i.e., collective turnover), consumer (i.e., negative customer perceptions), and financial (i.e., limited revenue growth). Literature from strategic human resource management, customer service, and resource-based theory is integrated to develop new theory describing how collective employee attitudes contribute to lower turnover, greater customer satisfaction and loyalty, and sales growth. Practical implications include developing a profit chain that allows managers to forecast (in dollar terms) the consequences of changing employee attitudes. Data come from multiple sources over several years, and are analyzed with mediated latent growth models. View the full list of SHRM Foundation funded research.