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In an interview with The HR Digest, Michael Fraccaro, Chief HumanResources Officer at Mastercard, explains the importance of business resource groups and the vital role it plays to deliver real business results. I was at a conference recently and one of the speakers remarked that “Culture hedges against the risk of uncertainty.”
Audit software and human monitors were soon installed to assure compliance. They frequently find the technologies are less of a hassle than the people. They’re analogous to autonomous resources, as opposed to humanresources, departments. Their results should humble those who privilege human agency.
First, fixating on ROE fails to maximize the benefit of business to society because it measures value in terms of returns to only one stakeholder; second, it allocates humanresources as if maximizing the efficiency of financial capital were critical to growth of social welfare. Therefore: who needs new technology more than the poor?
There are many explanations for growing inequality and stagnant wages, but studies have found that so-called “skills premiums” — higher wages for more-skilled workers — have been a significant factor in growing income inequality, and technology is the reason why that premium has risen.
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