People Mean Business
The results are in. People management and development are the drivers of business success in the 90s. At The Institute of Personnel and Development’s (IPD) recent National Conference, the message is loud and clear: People Mean Business.
IPD’s research indicates that the way people are managed and developed is the determining factor in sustainable success for companies today. The organization says that many companies tend not to incorporate people strategy within the business strategy. This could be a company’s fatal flaw.
People are the heart and drive in a business. According to IPD, the ability of a company’s employees to adapt, initiate, learn, and continuously apply new techniques in a changing environment can point to success or failure for the business.
A seven-year research project conducted by IPD sets the stage for the 21st century. It compared management and development practices of comparable firms. Firms that incorporated people strategies with business strategies led others in productivity and profitability by 20%. This was three times the next most significant factor, research and development.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.