Does training policy help to attract, retain and develop valuable human resources? Analysis from the Mondragon case

This is an electronic version of the accepted paper in the journal:Advances in the Economic Analysis of Participatory and Labor-Managed Firms. Volumen. 12

Purpose - The aim of this article is to ascertain the degree to which a training policy developed through corporate training centers is recognized as a source of competitive advantage for attracting, developing and retaining valuable staff. Design/methodology/approach – The fieldwork is based on a survey of Human Resource managers from 66 cooperatives of the Spanish Mondragon cooperative group. Findings – The empirical test carried out confirms that Mondragon's training policy, backed up by its corporate training centers, is perceived by HR managers as a tool that provides advantages to attract, develop and retain valuable human resources. The results also suggest that those advantages are more moderate than has been cited in classic literature on Mondragon. Practical implications – The results of this study can be helpful for the growing number of companies choosing to create and reinforce corporate training centers. The link between training policy and the perceived ability to attract and retain valuable employees showed in this case, can also be helpful for other companies that, as Mondragon, face limitations in wage policy. Originality/value – This paper contributes to the literature on the educational fabric of Mondragon adding updated empirical evidence and incorporating the point of view of HR managers of the group's cooperatives. With respect to the contribution of this paper to the literature on training policy, the paper's findings, in particular those regarding the effect of training on worker attraction and retention, add empirical evidence to the few studies on the subject.