By Haig Nalbantian, Richard Guzzo, Dave Kieffer, Jay Doherty
Businesses that choose, strengthen, set up, deal with, and inspire their humans to provide awesome enterprise effects have a rare aggressive virtue that others cannot replica. subsidized by means of Mercer's nine-year, $10 million examine of best businesses all over the world, Play on your Strengths indicates how you can leverage a company's human capital process into company effects which are measurable and ecocnomic and that may create unparalleled, enduring aggressive advantages.This bottom-line-boosting advisor supplies managers, senior executives, and specialists the speculation, instruments, and tactics they should: * degree the consequences of individuals on company effects * be sure the impression of options sooner than making them * specialise in the organization's optimum humans innovations * bring more cash to the base line in a sustainable demeanour * Create enduring, copy-proof aggressive benefits
Read or Download Play to Your Strengths: Managing Your Internal Labor Markets for Lasting Competitive Advantage PDF
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Extra resources for Play to Your Strengths: Managing Your Internal Labor Markets for Lasting Competitive Advantage
Because that system governs labor transactions inside an organization, we call it an internal labor market, drawing on a concept that is well developed in the research literature. We will return to that concept below. As in any system, changes in one component produce changes in others. For instance, changes in labor market conditions, such as local unemployment rates, typically produce changes in an organization’s retention rate, although the degree of change varies from organization to organization.
You should know the most relevant facts about your internal labor market and develop metrics to track its most critical dimensions. However, don’t ignore external facts. Your internal labor market does not exist in isolation; it is in constant interaction with a larger and competitive labor market. As a result, external facts are needed to determine how successful your policies and practices are likely to be in the face of competitive market conditions. Obviously, your company must be competitive in pay and benefits if it hopes to attract and retain good people and make its strategy work, but you can be competitive in different ways.
That strategy is intended to broaden their backgrounds and give them experience in managing progressively larger or more complex properties. It also is meant to motivate managers to reach the premier properties. The company views this strategy as the best way to groom its managers, develop careers, and produce higher retention of high performers. Were there potential risks to that strategy? Might not the process of taking good people out of a property and bringing in someone new challenge that business unit’s performance?
Play to Your Strengths: Managing Your Internal Labor Markets for Lasting Competitive Advantage by Haig Nalbantian, Richard Guzzo, Dave Kieffer, Jay Doherty