This paper sheds light on the relevance of socially responsible human resource management (SR‐HRM) and its link to the generation of value for companies. Based on the synergistic assumptions of the configurational approach, the article tests the association of SR‐HRM policies on intellectual capital (IC) dimensions (human, social and organizational capital). A cluster and structural equation modelling analysis on a sample of 85 human resource (HR) managers confirms that companies implementing socially responsible HR policies could experience a greater increase in IC levels than other companies. This process facilitates the sustainable development of organizations through the enhancement of IC value and stakeholder engagement among employees as a main group of interest.