On human capital

Trying to extract the maximum amount of value with the minimum amount of cost is a short-term strategy.

Sure, when you hire someone the value that the give to the company should be higher than the money they earn. That’s how an employer/employee value exchange works.

But with human capital it becomes much more nuanced. It’s easy to reduce your payroll as much as possible to increase the amount of value a company receives.

Or you could invest in your people and trust that the investment will produce returns for them and for you.