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new management paradigm is emerging as economic value becomes increasingly tied to information and ideas, as noted here last month. But there's another issue to consider: As brainpower has overtaken brawn as the key factor in people's employability, a new "contract" has been formed between companies and their employees, creating additional challenges for managers competing for talent.
Companies were once viewed as benevolent dictators who bestowed employment on grateful workers and expected unconditional loyalty and lifetime indenture in return. Today, the subservient employee model is an anachronism in developed economies and is rapidly disappearing elsewhere.
The reality is that lifetime employment is a thing of the past. Workforce mobility has increased dramatically, making employee turnover an ever-present management challenge.
Turnover is increasing at the management level as well. A recent study by Cornell University's Center for Advanced Human Resource Studies found that...