ABSTRACT
The success of organizations is to a large extent dependent on the effort and performance of the people who work for them. Having a knowledgeable, productive, and flexible workforce can form a source of competitive advantage for firms. Top managers increasingly realize that their people can make a difference by creating value for the organization and that therefore treating people as valuable resources can quite literally “pay off.” As such, managing the employment relationship is a crucial challenge for organizations and the design of strategies for the optimal management of people has
become an issue on the agenda of many boardrooms.
