High performance work practices have gained a lot of currency in popular management jargon. However, there is not much clarity as to what constitutes high performance work practices and their applicability in a global context. Are they really panaceas or another passing fad? The issues related to high performance work practices have been discussed.

Our world constantly embarks on a quest for the elusive practices that can form a heady combination and create a sustained win-win situation for all the players in the organizational chain. A glance down the memory lane of organizational practices offers a fascinating view of the meanderings in managing the workplace. The current flavor is high performing organizations and the practices they adopt.

High performance working practices imply new ways of organizing work, rewarding performance and involving employees in the decision-making process. The workplace is thus modeled in ways that are unique and distinctly different from Taylorism and "one best way" of doing things. The lofty aim of high performance work practices is making learning continual and adaptation a reality.

Another fact that becomes critical in adopting (HPWPs) is whether the companies are operating markets that ensure high margins or whether they are in industries where there is low value creation and lower profit margins. In the latter case, it has often been found that continuing with the existing hierarchical structures and well-entrenched practices leads to better firm performance, rather than incurring costs to initiate changes that are not supported by the existing business scenario.

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