The New Relationship: Human Capital in the American Corporation

Human capital and organizational capital are increasingly important as a source of value in many firms. But even as this is happening, organizational forms and employment relationships appear to be changing in ways that reduce loyalty and commitment andencourage mobility on the part of employees. Are these changes consistent in ways that contradict traditional theory and wisdom, or is the corporate sector getting a temporary boost in earnings by restructuring and cutting payrolls, but failing to make necessary new investments in human capital? The essays in this book provide intriguing new evidence on these questions. The contributors quantify the degree to which job stability is declining, and the costs of job loss to long-term workers; provide historical perspective on today's workplace changes; explore the reasons why work is being reorganized and decisionmaking tasks are being pushed downward; examine the rationale for and effect of equity-based compensation systems, both...