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ERNIE, please use the form on the
linked page. Simply, the question is "How do you continue to provide your customer
with novel, high value services?". Like we see everyday in Electronic
Recruiting, the moment a good new idea hits the market, the competitors
begin to copy it. Either market advantage is fleeting and dependent on a
continuing stream of innovation or it requires a non-repeatable (or labor
intensive) method. We think this question is at the center of the
development of a workable strategy in our industry and the rest of the
Internet industry.
One approach to solving the problem is to institutionalize a wisdom
department. You may remember the scale of value that goes something like
"Data - Information - Insight Wisdom". Wisdom represents the highest
value, data the lowest. We believe that all wisdom has a half-life. At the
half-life point, wisdom degrades into information and can be automated. A
Wisdom department would be in charge of developing a constant stream of
new wisdom and figuring out how to deliver it to the customer.
The other, more widely practiced approach (demonstrated by the HRXML
consortium among others) is to wait until wisdom is totally degraded and
becomes repeatable data. This approach, appropriate for a large
institutional player, assumes that commodity pricing is a good thing and
that low margins are the key to market dominance. In this model, survival
is sold rather than the opportunity for a customer to gain real market
benefit. We believe that this approach values mediocrity and consistency
over innovation. It's much easier to execute (particularly if you are a
big player with relatively limitless budgets),
We tend to look at the market as leaning towards one extreme or the
other. The highest return on your investment is likely to come from the
former while reliable performance, at rates consistent with all other
players, comes from the latter. In a "War For Talent", no one can really
afford the luxury of market performance. It is, by definition, declining.
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