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Final Exam

Final Exam

The Pfeffer and Veiga article “Putting People First for Organizational Success” examines the relationship between financial results and organizations’ treatment of their employees.   The article convincingly argues that the treatment of employees by firms must be as valued assets as opposed to cogs in a large machine.   Pfeffer and Veiga have noted seven organizational practices that successful firms employ to create profits through successful utilization of people.
Employment Security
A
Employment security is important to all individuals and firms that place an emphasis of assurance on this can be very successful.   One point raised in discussions was that employment security keeps people focused on their job performance instead of worrying that they could be asked to leave.   People will be much happier and consequently more productive if they are not concerned with potential layoffs that threaten the welfare of themselves or their coworkers. “Employment security is fundamental to the implementation of most other high performance management practices.” (Pfeffer)   Workers who are guaranteed their jobs will be more likely to work with management when asked to cooperate with their strategies.
Another point raised in class was when consistent employee retention levels are not maintained, employees lose faith in the ability of senior management to effectively manage the corporation.   In the case study examining “Delarks Department Stores”, a new CEO, Harry Denton, was hired who commenced multiple terminations without ever assuring the remaining employees that the layoffs were over. (Wetlaufer)   When Denton spoke at a corporate meeting, the employees, who were discouraged by a constant fear of losing their jobs, walked out of the meeting before Denton could finish explaining himself.   The employees lost faith in senior management.   If Denton would have assured their job security, the employees would certainly have had more respect for Denton and would...