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Advanced Human Resource Strategy |
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In his article on advanced Human Resource Strategy, "Job Security: Its Time Has Come", Bolt shows the way towards lasting job security, and explains why this should be a fundamental objective of every company. He concedes that job security policies like lifetime employment, have been labeled as utopian ideals. For pragmatic Western managers, this has come to mean that they should not be seriously pursued. But, he goes on to explain that the basic economics of a company with lifetime employment as an objective, are very different from firms with a hire/fire approach to surviving business cycles.
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Bolt argues that companies which have committed to job security are able to invest heavily in the development of their human resources, and can expect to reap growing rewards over a forty-year employment relationship with each core employee. This provides a significant advantage over other companies which are constrained by a lack of employment continuity. To make it work, Bolt counsels companies to integrate human resources planning with strategic objectives. Unfortunately, this is a rare practice here in the West.
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Bolt, James F. "Job Security: Its Time has Come." in Harvard Business Review. Harvard Business School Press. Boston: MA. November-December, 1983.
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