In the 1990’s, the significance of human capital in organizations has been increasing,and measurement issues in human resource management have achieved significant prominence. Yet, I/O psychology research on utility analysis and measurement has actually declined. In this chapter we propose a decision-based framework to review developments in utility analysis research since 1991, and show that through lens of this framework there are many fertile avenues for research. We then show that both I/O psychology and strategic HRM research and practice can be enhanced by greater collaboration and integration, particularly regarding the link between human capital and organizational success. We present an integrative framework as the basis for that integration, and illustrate its implications for future research.