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Today’s executives spend a lot of time managing the balancesheet, despite the fact that it doesn’t represent their company’s scarcest resource. Finding, developing, and retaining this talent is hard — so much so that the business press refers to a “war” for talent. Vincent Tsui for HBR.
Human resource teams are critical to the growth of a company since employees typically represent both the biggest operating expense and largest off-balancesheet asset for most businesses. If you are early in your career, you may be engaging a lot with recruiters. Learning and Development. Compensation.
Most of these companies are private and don’t publish their balancesheets. The company also looks outward for global management development and recruits and deploys up-and-coming managers abroad. They pay major attention to the workplace. Mittelstand managers give their workers a great deal of their time.
If you persist in using “resource” instead of humans, you allow the language of the balancesheet to drive your management decisions. They all say something like this: We need resilience in product development and delivery. Too many managers have been trained to talk about “resources” instead of humans.
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