In the present day world, organizations can stay in business only by delivering
value to its customers. In this endeavor, those who are most valuable are the
employees of the organization- Not just at any particular segment, but all.
Focusing on employees has become a necessity for organizational survival.
But, if the standard package/ job offer is made to all the employees working at
a particular level, then it works against the objective of attracting the best
talent, motivating employees for superior performance and retaining the
performers within the organization. In the 21st century as increasing
customization of products is necessary for any company to expand its customer
base, similarly, for attracting and managing talented workforce, one size no
longer fits all. As, no two employees are the same in terms of capabilities and
aspirations, the organizations HR practices should also be customized and
one-to-one for having optimum benefits for employer and employee- maximum
advantage of the employees’ unique value at the lowest possible cost.