By Dr. Jac Fitz-enz
In response to wide study, this article identifies 8 top practices in human asset administration that result in long term company luck. Case experiences of quite a few businesses exhibit the practices in motion.
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Additional info for The 8 Practices of Exceptional Companies: How Great Organizations Make the Most of Their Human Assets
It is employing technology to facilitate work rather than to replace workers. It is truly linking pay and performance, thereby giving low-level employees a chance at earning a living wage. It is supporting the work force with training. In these companies, customers are coming back and sales are on the rise. Other things being equal, high retention rates and low absenteeism are valid indicators of employees who feel valued. Happy, involved employees obviously enhance the customer's experience with the company.
The eight best human asset management drivers are: an interwoven human-financial value focus, commitment to a long-term core strategy, linkage of culture and systems, massive multidimensional communications, partnering within and outside the company, collaboration within functional groups, innovation through well-planned and managed risk taking, and a competitive passion that is never satisfied with less than constant improvement. Investigators have to deal with the chicken or the egg syndrome.
Some were stronger in one force than in others. Each firm put them together in its own way. But most important, all of the factors were prominent in every company. " Many of the 1,000 companies that we studied but that did not qualify for best-practice recognition are fine organizations. However, the best practice factors were not as evident in their case, and in some cases were reversed. For example, the driving focus on adding value and the appreciation for people as well as money was not evident in many of these firms.
The 8 Practices of Exceptional Companies: How Great Organizations Make the Most of Their Human Assets by Dr. Jac Fitz-enz