FACTORS OF PRODUCTION: LAND, LABOUR, AND CAPITAL
There are three resources that most businesses leverage: financial resources, intellectual property or access to natural resources, and human resources.
Financial resources, intellectual property, or access to natural resources are ‘order qualifiers’. They get you on the customers’ shortlist. Human Resources are ‘order winners’. They help you win orders in the marketplace by providing better value than that of your competitors who also qualified. This is because human resources ensure effective utilization of the former two.
Attracting and retaining Human Capital – The Unique Advantage
Most businesses have access to financial and economic resources. HR determines the advantage over the competition. As the pool of high-performing people is limited, creating an engaged organization to retain talent and to help them be more productive is critical to winning in the marketplace. Branding the organization as an engaged organization is also important to attract talent. Therefore, an award helps in attracting talent as well as getting a confirmation that the organization is an engaging organization that can retain talent.
Invest In Your Employees For High ROI
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