Prahalad and Hamel (1990)are of the view that general managerial epithet, "people are our greatest asset''is a tired cliche. how true iss this
Answers
New generation companies are spending far higher on licensing costs, installation of machinery, purchasing assets etc.
They hardly bother to revise the pay settlements of their employees.
Performance linked bonuses indicate that employee's worth is only being judged by numbers or quality metrics.
In order to counter stiff competition businesses are ignoring their human resources and the need of investing in staff
People are our greatest asset is indeed a tired and cliched phrase which is used by management leaders so much that it has lost its value.
If a management leader wishes to use this phrase, they should be asked "What does your company do to show to your employees that they are your greatest assets?" as this would be more meaningful.
This phrase needs to be genuinely followed up and a proper company culture created for such an expression to stand true.
Companies say this all the time and yet have performance surveys and engagements with their employees all too less.