As a manager in the 21st Century it is important to keep your employees competitive. The seven dimensions to producing profit through people are:
1. Employment Security
2. Selective Hiring
3. Self-managed teams and decentralization
4. Comparatively high compensation contingent on organizational performance
5. Extensive training
6. Reduced differences in Status
7. Sharing of information
Employment Security is important to workers, employees do not want to feel as though they will improve productivity so much they will work themselves out of their jobs. Selective Hiring allows employees to be surrounded by others with similar skills such as teamwork that can not be trained.
Self -managed teams that allow workers to feel accountable for the operation and success of the organization. Comparatively high compensation contingent on organizational performance lets employees take part in the success of their organization. Extensive training allows employees to have a competitive advantage and a chance to better understand the position in which they are in or desire to be in. Reduced differences in Status allows employees to take part of stock options and bonuses that can usually be saved for Officers of the company. Sharing information with employees such as financial performances, strategy, and operational measures convey to an organizations members they are trusted. Using these seven dimensions to change the hierarchal environment of the business structure to a more open powered shared environment will be the challenge to many traditionally structure businesses in this economically challenged environment.