We re-examine the efficacy of the SHRM perspective from the vantage point of a specific HRM system, international compensation and rewards, to gain new insights into existing conceptual models. Looking at SHRM from the ground up suggests that, to continue informing our understanding of the HRM-organizational effectiveness (OE) relationship, research will need to adopt richer theory and measures of specific HRM systems and extrapolate important contextual factors that influence relationships between OE and specific HRM systems.