High Performance Organizations: HR Practicies

It is said that a company that loses all its equipment but retains the skills and know-how of its workforce could be back in business relatively quickly but one that loses its workforce, while keeping its equipment, will find it much more difficult to recover. Organizations are becoming increasingly aware of the tangible contribution of the intangible assets like the workforce. While the traditional physical assets’ contribution is finite, the workforce represents an infinite managerial resource. A talented and committed workforce is acknowledged to be the best insurance in the uncertain and turbulent business environment of today’s world. People are the most valuable asset and they lend an unerring competitive advantage to a business enterprise. The essence of any business organization is value creation to all its stakeholders. A high performance organization provides a compelling and convincing case, that certain management practices lead to high performance allowing a firm to achieve the much desired long-term competitive advantage. Delivering superior value to customers is the key to success. Such organizations realize that it is the employee value that leads to customers’ satisfaction and generates customer value. Research and experience increasingly point out to a direct relationship between organizational effectiveness and people management skills. High performance organizations ensure that their business strategies are well grounded in the realities of business environment. The book showcases the various management practices of successful business enterprises that decidedly create differential advantage as well as long-term competitive advantage.