- Research Feature
- Read Time: 29 min
As health care costs continue to skyrocket, companies must aggressively seek ways to work with employees and providers to reduce costs, while improving quality.
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Repricing underwater stock options won't help you hold onto top executives, but it can reduce turnover among lower-level employees. So report Mary Ellen Carter and Luann J. Lynch, who have spent five years studying the controversial practice.
Although most large corporations routinely collect data on employee turnover, benefits expenditures, training costs and so on, they rarely make that information public. But that could be a mistake, claim Fabienne Autier, associate professor of human resources management, and Rodolphe Durand, associate professor of strategy, both with E.M.
Thus far, researchers and managers alike have a very limited understanding of what makes knowledge workers tick. But by manipulating two key leverage points, companies can begin to shift the balance from art toward science.
Executives know they need to develop their company’s next leaders, but many are disillusioned by all the once-promising fads that have come and gone. Some, however, have discovered how an approach that’s as old as Homer can be one of the most effective means of developing high-potential managers.
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.
When Mattel's directors went shopping for a new CEO, they found their man in processed cheese. When IBM's board needed to replace John Akers, it picked an executive who had worked in financial services and cigarettes.
Forget capital; it‘s relatively easy to obtain. The scarce, sought-after strategic resource is expertise, which comes in the form of employees. With people in ascendancy over capital, say the authors, it is time to recall what a company actually is: a social institution designed to engage people in the achievement of a valuable and meaningful purpose.
Many companies boast that their employees are their greatest assets, but when the going gets tough, they shed those precious assets in an effort to cut costs and boost efficiency and productivity.
Commitment and competence are embedded in how each employee thinks about and does his or her work and in how a company is organized to accomplish work. This intellectual capital is, according to the author, a firm’s only appreciable asset. He outlines three ways to build employee commitment and five tools for increasing competence in a firm, site, business and plant.
Are managers today less loyal to their companies? If so, can companies counter this trend? To retain loyal managers, companies must nurture an apolitical culture that places high priority on meeting career needs.
Making an explicit link between people’s personal needs and business goals can be a catalyst for changing work practices. In the end, both the company and the employees benefit.
Why are some companies able to remain vital, even after extensive reengineering, while others flounder and fail? The answer, according to these authors, lies in a company’s ability to rejuvenate its employees by establishing a behavioral context with four characteristics — discipline, support, trust and stretch. The authors show how companies like Intel and 3M have been able to renew themselves by creating an environment in which people are the most important resource.
THE PRODUCTION-LINE APPROACH TO SERVICE IS BEING CHALLENGED BY AN EMPLOYEE EMPOWERMENT APPROACH. DESPITE ITS GROWING POPULARITY, many managers are still uncertain about empowerment’s impact. The authors describe the returns a company can expect from empowering service employees, which include a number of favorable business results, but new management challenges as well.
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