Managing People in the New Economy

Managing People in the New Economy presents a comprehensive analysis of recent theories and practices of human resource management and strategically align them with the emerging knowledge economy. Exploring the many facets of people management in this environment, Mohan Thite persuasively argues that HR managers need to overhaul the tools of their trade in order to balance the endless array of conflicting choices and paradoxes in managing people. Drawing from contemporary examples and analysis, the author demonstrates that as the industrial economy transforms itself into the knowledge economy, the people management function needs a similar transformation to be able to fulfill its critical role in leveraging intellectual capital. The challenges of transformation include: Practising a sound management philosophy built around a people-centric culture. Institutionalizing ‘learning to learn’ competencies that encourage minds to be wide open to generate, absorb and act on creative and innovative ideas. Attracting talent through recruitment strategies that cater to the changing nature and profile of the workplace. Retaining talent by aligning individual and organizational goals and nurturing communities of practices. Performance assessment that shifts the focus from skills and seniority to competencies and customer satisfaction. A reward system that goes beyond monetary grading to individual and social recognition. Managing people in a multi-national context to harness the dynamics of diversity. Challenging traditional concepts of people management and designed to spark discussion, this book will be an invaluable textbook for students of management. It will also be essential reading for academics and practitioners of human resource management and development. CEOs and senior management will find this book both insightful and innovative reading.