The importance of high-performance work practices has acquired immense importance in the business sector. The High-Performance Work Practices (HPWP) have proved to be a competitive advantage and a sustainable resource supporting corporate strategy implementation and achievement of business goals. Thus, the concept of hpwp training has emerged in recent years.
A resource of competitive advantage
Terminologies like intellectual workers, knowledgeable capital, and a high-performance work system indicate new interest in people as a resource of competitive advantage rather than an expense that requires to be minimized. Individuals as intellectual assets and knowledgeable capital within a company or an organization attract, develop, and retain as a vital component of the business strategic decision-making process.
HPWP practices centers around business needs
HPWP or High-Performance Work Practices is viewed as a set of internally consistent and coherent human resources (HR) practices designed to facilitate knowledge of employees, motivate, and make commitments. Also referred to as alternative or flexible work practices, such programs feature the following elements:
- Performance-based high incentives
- Strict recruitment and selection procedure
- Inclusive training programs
The above-mentioned elements are centered around the needs and demands of the businesses.
Empowering employees and enhancing organizational efficiency
HPWP programs engage significantly in human capital to motivate and empower employees by helping them to develop and enhance their skills, knowledge, flexibility, and others. This is rendered with the expectation that the employer will offer the employees the potential and the opportunity to deliver vital inputs into decisions in the workplace.
In addition, the companies and organizations also expect that the empowered and motivated employees adapt to ever-changing market conditions quickly. Henceforth, the business experience enhanced operational efficiency and performance. This is one of the prime reasons hpwp training programs are given so much attention today.
Key elements of HPWPs in organizations
The key elements of High-Performance Work Practices (HPWP) in companies and organizations are:
- Strict hiring and selection process
- Comprehensive development, learning, and training processes
- Internal labor market and employment security
- Performance-based attractive compensation
- Elimination of status differentials
Promotes employee decision-making
The prime motive behind HPWPs is to have a highly-skilled, empowered, and motivated workforce in organizations. The goals and objectives of the employees are linked closely with the management. The employees with HPWP training are part of the high involvement work practices. In addition, they are also that part of the workforce where they are involved in important decision-making of businesses and encouraged to take more responsibility. Their independent decisions are given value by the management.
Organizations and companies that value hpwp training and incorporate the practices benefit in multiple ways. There is reduced employee turnover, which facilitates increased productivity and better financial performance. Furthermore, HPWPs can also act as an excellent source of competitive advantage till the time the managerial practices are synced with the current internal organizational objectives along with the external strategic objectives of the business. thus, it won’t be wrong to mention that High-Performance Work Practices matter in the enhanced performance and efficiency of an organization or company.