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Our Least Important Asset: Why the Relentless Focus on Finance and Accounting is Bad for Business and Employees

Name: Our Least Important Asset: Why the Relentless Focus on Finance and Accounting is Bad for Business and Employees
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Book Synopsis: A comprehensive and insightful look at the modern workplace and how employees are managed, where the new approach is driven by the quirks of financial accounting to the detriment of employees and the long-term success of the organization. Real wages have stagnated or declined for most workers, job insecurity has increased, and retirement income is uncertain. Hours of work for white collar employees have increased steadily, opportunities for advancement have withered, and evidence of the negative effects of workplace stress on health continues to accumulate. Why have jobs gotten so much worse? As Peter Cappelli argues, these issues are not a result of companies trying to be cost effective. They stem from the logic of financial accounting—the arbiter for determining whether a company is maximizing shareholder value—and its fundamental flaws in dealing with human capital. Financial accounting views employee costs as fixed costs that cannot be reduced and fails to account for the costs of bad employees and poor management. The simple goal of today's executives is to drive down employment costs, even if it raises costs elsewhere. In Our Least Important Asset, Cappelli argues that the financial accounting problem explains many puzzling practices in contemporary management—employers' emphasis on costs per hire over the quality of hires, the replacement of regular employees with "leased" workers, the shift to unlimited vacations, and the transition of hiring responsibilities from professional recruiters to more expensive line managers. In the process, employers undercut all the evidence about what works to improve the quality, productivity, and creativity of workers. Drawing on decades of experience and research, Cappelli provides a comprehensive and insightful critique of the modern workplace where the gaps in financial accounting make things worse for everyone, from employees to investors.

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Are you tired of a workplace that values financial accounting over employee well-being? Look no further than "Our Least Important Asset: Why the Relentless Focus on Finance and Accounting is Bad for Business and Employees." This groundbreaking book by Peter Cappelli takes a deep dive into the modern workplace, where employees are being managed based on the quirks of financial accounting to the detriment of their long-term success. Don't let stagnant wages, increased job insecurity, and uncertain retirement income become the norm. Discover how financial accounting's flawed approach to human capital is at the root of these issues and why it's time for a change.

When it comes to employee costs, financial accounting fails to account for the costs of bad employees and poor management. This leads to an obsession with driving down employment costs, even if it raises costs in other areas. But at what cost to the quality of hires, the productivity of workers, and the creativity of the workforce? In "Our Least Important Asset," Cappelli exposes the detrimental impact of these flawed practices in contemporary management. From the replacement of regular employees with "leased" workers to the shift towards unlimited vacations, he uncovers the destructive consequences of prioritizing financial accounting over human capital.

With decades of experience and research, Cappelli provides a critical analysis of the gaps in financial accounting that make things worse for everyone involved. From employees seeking a fulfilling and secure career to investors looking for sustainable business success, the flaws in financial accounting's logic have far-reaching implications. It's time to challenge the status quo and embrace a new approach that prioritizes people over profits.

If you're ready to break free from the outdated and harmful practices of financial accounting, "Our Least Important Asset" is a must-read. Gain insights, strategies, and a fresh perspective that will empower you to transform your workplace into one that fosters employee well-being, engagement, and success. Take the first step towards change by ordering your copy today. Unlock the key to a workplace where employees are valued as the most important asset, not the least.

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