Winning the Global Competition

Winning the Global Competition

The marketplace is changing rapidly and competition is fiercer than ever.

Companies all over the world are competing with each other to become the best employer in their industry or community. Competition among companies are not only strayed locally but is now greatly challenged in a global arena.

In every industry, companies face more competition than ever before. This is true even into industries that were previously thought to be totally secure. In the Philippines, formerly protected, state-run industries are being sold off to the private sector, creating intensely competitive new markets. Such industries as electric utilities and telecommunications. And the competition is global. Competitors can appear anywhere, and they do.

At the same time, there is increasingly rapid technological change. To gain a competitive edge, companies must constantly keep abreast of, and improve on, their technology. Not only is this true in high-tech industries, but it also has become equally important for such low-tech industries like retailing and publishing.

There are also intense demographic changes occurring in the workforce throughout the world. The workforce today is far different from 10 or 20 years ago. Not only are there more women, but the younger generation is much better educated and has higher expectations from their employers. In particular, the younger generation is much more willing to leave a company to pursue opportunities elsewhere. So today’s organizations must earn employee loyalty.

All of these challenges have one thing in common: all require a different kind of relationship between the management and employees.

This brings us back to the original point: Companies all over the world are trying to become better places to work because they realize that it is essential for the survival of their businesses. Companies can attract and retain the best employees only if they offer a superior work environment....