Chapter from: "Workforce of One: Revolutionizing Talent Management Through Customization"
Published by:
Harvard Business Publishing
Length: 56 pages
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Abstract
Companies have excelled by treating customers as 'markets of one', offering them personalized buying experiences. But in managing their own workers, most firms still use one-size-fits-all HR practices. A better approach, according to talent management experts Susan Cantrell and David Smith, is to treat each employee as a 'workforce of one'. What exactly does that mean? In this chapter, Cantrell and Smith explain the concept and, using electronics retail giant Best Buy as an example, show how creating a customized experience for your employees not only unleashes their full potential but also enables your organization to outperform the competition and gain real, sustainable advantage in the marketplace. The authors trace the evolution of human resources management, examine traditional HR practices, and describe six trends that are driving the workforce-of-one movement. The chapter concludes with a summary of the four distinct paths your organization can take to customizing its people practices - segment the workforce, offer modular choices, define broad and simple rules, and foster employee-defined personalization - and provides a diagnostic tool to help you determine how your company can benefit from this game-changing approach to talent management. This chapter is excerpted from ‘Workforce of One: Revolutionizing Talent Management Through Customization'.
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Abstract
Companies have excelled by treating customers as 'markets of one', offering them personalized buying experiences. But in managing their own workers, most firms still use one-size-fits-all HR practices. A better approach, according to talent management experts Susan Cantrell and David Smith, is to treat each employee as a 'workforce of one'. What exactly does that mean? In this chapter, Cantrell and Smith explain the concept and, using electronics retail giant Best Buy as an example, show how creating a customized experience for your employees not only unleashes their full potential but also enables your organization to outperform the competition and gain real, sustainable advantage in the marketplace. The authors trace the evolution of human resources management, examine traditional HR practices, and describe six trends that are driving the workforce-of-one movement. The chapter concludes with a summary of the four distinct paths your organization can take to customizing its people practices - segment the workforce, offer modular choices, define broad and simple rules, and foster employee-defined personalization - and provides a diagnostic tool to help you determine how your company can benefit from this game-changing approach to talent management. This chapter is excerpted from ‘Workforce of One: Revolutionizing Talent Management Through Customization'.