MANA 463 Lecture Notes - Lecture 10: Interactional Justice, Human Capital, Procedural Justice
25 Jan 2017
School
Department
Course
Professor
Document Summary
It resurfaced aggressively with the global financial crisis in 2008. Historic growth strategies and talent wars increased the size of the workforce. Today, expensive human capital is being eliminated again with downsizing. Strategies to improve an organization"s efficiency by reducing the workforce, redesigning the work, or changing the systems of the organization. A short-term strategy to cut the number of employees through attrition, early retirement or voluntary severance packages, and layoffs or terminations. A medium-term strategy in which organizations focus on work processes and assess whether specific functions, products, and/or services should be changed or eliminated. A long-term strategy that changes the organization"s culture, attitudes, and employees" values with the goals of reducing costs and enhancing quality. This strategy is deliberately meant to take time because behaviours and values need to be incrementally changed. The focus here is on evolution and continuous improvement. Both human capital and the financial situation of an organization are important.
