Businesses in the United States compete in a top-notch, knowledge-based economy against both domestic and global rivals. For the most part, competitive advantage is based not on having the best machinery, the most productive land, or the greatest access to natural resources but on having the best people: the smartest, the most driven, the most creative, and the best trained.
To some extent, recruiting and retaining top talent are simply a matter of paying more money for that talent. But this is often an inefficient strategy from a financial standpoint. Another potentially better option for top companies is to invest in upskilling and training their existing talent.
