MGMT 104 Lecture Notes - Lecture 15: Collective Action, Infosys
Document Summary
Performance = ability + motivation + luck: ability = smart hiring + talent development. Firms are paying as many workers to be trained. Work orgs rely less on hierarchy and more on workers having diverse skills. It"s (cid:271)e(cid:272)o(cid:373)i(cid:374)g i(cid:374)(cid:272)reasi(cid:374)gl(cid:455) e(cid:454)pe(cid:374)si(cid:448)e to ha(cid:448)e tale(cid:374)t (cid:862)o(cid:374) the (cid:271)e(cid:374)(cid:272)h(cid:863) It"s (cid:271)e(cid:272)o(cid:373)i(cid:374)g harder to predi(cid:272)t (cid:449)hat skills (cid:455)ou (cid:449)ill (cid:374)eed i(cid:374) the future. The talent you need may not be available: does(cid:374)"t (cid:449)ork for all jo(cid:271)s. Some jobs require firm-specific knowledge: creates a collective action problem. If no firms train or develop workers, the external market becomes increasingly less qualified. How to know when to train workers instead of hire externally: you need a worker with a firm-specific skill, your organization is more hierarchical. Socialization/culture is more important: the quality of the external workforce is low, you need talent for a long time, you can better predict future needs. Created a progra(cid:373) a(cid:374)d (cid:272)hose to i(cid:374)(cid:448)est i(cid:374) their people o(cid:448)erall it (cid:449)orked.
