- Opinion & Analysis
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Motivated by rising health-care costs and commitment to their staff’s health and productivity, many companies are taking matters into their own hands.
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Setting long-term sustainability goals gives managers and employees permission to think about what’s really possible, says Dave Stangis, vice president of corporate social responsibility and sustainability at Campbell Soup. “It’s a much more effective way to drive system-wide, enterprise change.”
Why are investors so bullish on companies like Apple and Disney? Is it metrics, management, industry prowess, good investor relations or good timing? Probably all of these. But something else may be at work, too. According to research conducted at the MIT Sloan School of Management, the stock market consistently values certain types of business models more highly than others. In recent years, investors have favored models focused on intellectual property and highly innovative manufacturing.
Research shows that attention to pay and benefits is necessary but not sufficient to retain talent. So why do so many corporate leaders continue to use compensation as their primary retention tool? And what should they do instead to keep their best people, particularly in emerging markets such as India, where both local and global employers are clawing for talent?
“Political influence may come at the cost of lower productivity,” explains Anders Olofsgård, a senior fellow at the Stockholm Institute of Transition Economics at the Stockholm School of Economics. “Politicians are expecting something in return from you. One way to pay back politicians is through jobs. So you may be locked into keeping higher employment than you otherwise might be.” Olofsgård and co-author Raj M. Desai, a visiting fellow at the Brookings Institution, argue that bloated staffs are no bargain for any company.
Departing employees leave with more than what they know; they also take with them critical knowledge about who they know. That information needs to be a part of any knowledge-retention strategy.
In times of adversity, many organizations miss the opportunity to rethink their business model to optimize their positioning for the recovery ahead. Recessionary economies may not require re-engineering or moving noncore competencies outside the organization for greater efficiency. Oxman suggests four critical ways to prepare for economic recovery.
How one company implemented a “telework” program that transformed paper-based processes and reliance on voice communications into automated procedures supported by full-scale connectivity.
The corporation has emerged as perhaps the most powerful social and economic institution of modern society. Yet, corporations and their managers suffer from a profound social ambivalence. Believing this to be symptomatic of the unrealistically pessimistic assumptions that underlie current management doctrine, Ghoshal et al. encourage managers to replace the narrow economic assumptions of the past.
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