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Chapter 17 - Workforce: Optimizing human capital. After reading the material in this chapter, you should be able to: Describe how the workforce contributes to profitability, explain how expectations for employees are increasing, explain the impact the workforce has on value, use the customer experience grid to describe the relationship between customers and employees,. | Chapter 17 Workforce: Optimizing Human Capital Describe how the workforce contributes to profitability. Explain how expectations for employees are increasing. Explain the impact the workforce has on value. Use the customer experience grid to describe the relationship between customers and employees. Describe why teams have become more important. Explain a structure for team processes. Describe the impacts of contingent workers. Describe why workforce productivity is important. Demonstrate how standard times are created. Make the necessary calculations to perform a work sampling study. Describe how learning rates can affect worker productivity. Calculate the amount of time a task will take, given a specified learning rate. Learning Objectives 17- Why is the workforce viewed as the most valuable asset? Businesses increasingly depend on information and technology Competition for workers who have related skills is fierce As products and services become more like commodities, . | Chapter 17 Workforce: Optimizing Human Capital Describe how the workforce contributes to profitability. Explain how expectations for employees are increasing. Explain the impact the workforce has on value. Use the customer experience grid to describe the relationship between customers and employees. Describe why teams have become more important. Explain a structure for team processes. Describe the impacts of contingent workers. Describe why workforce productivity is important. Demonstrate how standard times are created. Make the necessary calculations to perform a work sampling study. Describe how learning rates can affect worker productivity. Calculate the amount of time a task will take, given a specified learning rate. Learning Objectives 17- Why is the workforce viewed as the most valuable asset? Businesses increasingly depend on information and technology Competition for workers who have related skills is fierce As products and services become more like commodities, competition based on price or quality becomes harder. Market dominance shifts to the most innovative company, and ideas come from people Competition is, to a great extent, based on service-oriented value attributes. Employees who can interact effectively with customers are sought after Introduction: Using the Workforce as a Key to Competitive Success 17- Price and quality differentials disappear when customers have more information and access to more options through the Internet. Service-related attributes remain How fast can I get it? How helpful were the people I talked to? How pleasant was the interaction? Managers are often afraid of letting employees talk to customers. but that’s what customers want. Knowledgeable, committed employees may be one of the most important competitive advantages remaining Employee/Customer Interaction, Value, and Profitability 17- The Employee Contributions to Value Attributes Cost Style/Fashion Quality Ethical Issues Response Time Technology .
