The Differentiated Workforce: Translating Talent into Strategic Impact

FOREWORD

Cash is an important asset. Even in hard times (especially in hard times), organizations endeavor mightily to keep the business going without impairing their capital, except as a last resort.

People are also an important asset. How many times have you heard some senior executive make the claim that “our people are our most important asset”? Yet at the first hint of approaching trouble, many organizations’ initial reaction is to systematically impair the value of their labor force. For example, despite the self-evident logic of Jack Welch’s observation that “in tough times you need training more, not less,” the training budget is often the first casualty of any downturn.

Another frequent victim of hard times is the compensation strategy. ...