The 7 Human Resource best practices presented below have been proposed by Jeffrey Pfeffer. Pfeffer wrote two books on this topic:
Competitive Advantage through People (1994), and
The Human Equation: Building Profits by Putting People First (1998)
In these books, he proposes a set of best practices that can increase a company’s profit. When these best practices are combined (or bundled), their impact is even more profound.
These best practices are:
1. Employment security
2. Selective hiring
3. Self-managed and effective teams
4. Contingent compensation
5. Extensive training
6. Reduction of status difference
7. Information sharing
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