Authors: Fernando Belfo
Addresses: Algoritmi Research Centre, University of Minho, 4800-058 Guimarães, Portugal; Polytechnic Institute of Coimbra, 3040-316 Coimbra, Portugal
Abstract: Organisations which are competing in a knowledge-based economy (KBE) will need professionals with singular qualifications and motivation. Individuals should be on the centre of the conception of knowledge-based firms. The development of the KBE depends on the progress of knowledge careers and accordingly, the planning of adequate incentives especially oriented to knowledge workers. This paper proposes a virtuous cycle which enhances organisational performance by one side and the development of knowledge careers, potentiating its opportunities, by another side. This mutual and positive influence can be successively incremented, cycle after cycle, creating a virtuous cycle. This perspective of positive reciprocal feedback is most suitable for knowledge workers and under a knowledge-based economy context.
Keywords: knowledge-based economy; KBE; human resource management; HRM; recruiting; retention; business alignment; knowledge workers; organisational development; staff development; virtuous cycle; incentive; organisational performance; positive feedback; reciprocal feedback.
International Journal of Knowledge-Based Development, 2014 Vol.5 No.1, pp.17 - 31
Received: 07 Jul 2012
Accepted: 31 May 2013
Published online: 14 Mar 2014 *