I don’t know why, but I have found myself more interested in this year’s Winter Olympic Games than in previous years.

Maybe it’s the proximity of Canada to the U.S. and the friendly sports rivalry between the two countries. Maybe it’s the beauty of Vancouver and the surrounding area, which I visited in 2007. Or, maybe it’s the fact that I still have nearly two feet of snow in my yard from the recent blizzard in DC that has put me in the Olympic spirit.

Whatever the reason, I’ve enjoyed the diversion from the bad economy, the political discord in Washington, Tiger Woods, and the late night talk show melodrama.

I admit, I feel a bit nostalgic when I watch the Olympic Games. It harkens back to a time in my youth when I dreamed of being a famous downhill skier. There’s something about watching the world’s best athletes compete their hearts out, not for a paycheck or a corporate sponsorship, but for the sole purpose of winning — and standing on a podium to proudly represent his or her country.

It boggles the mind to think about the thousands of hours and years of practice that many athletes invest to become the best at what they do. And more boggling is that all that work may come down to a mere 60 to 120-second performance.

What drives a person to work that hard for a reward only of recognition?

The Olympics are unique in this regard. A company or organization could never, ever replicate this level of drive and dedication from its employees. Employment is work. It is a compulsory activity whose purpose is to make a living, provide for one’s family, and ideally save towards retirement.

With that said, there’s a lot that a company could learn from the Olympic ideal. Creating a healthy, competitive environment is a good thing. Rewarding those employees who excel and distinguish themselves is a worthy exercise and will drive increased performance across the ranks.

A corporate culture that celebrates achievement, both of individuals and of teams, is one that will lead to long-term success. It also creates an environment where employees are more likely to enjoy their work, and not dread coming to it.

Seek to ignite a fire within your employees. Light a cauldron that can serve to fuel creativity and innovation. I bet you’ll like the results and the golden opportunity it will provide your company to best your competitors.

In today’s New York Times, economist and author Sylvia Ann Hewlett discusses the merits of flex time for both corporations and employees in the article, “Making Flex Time a Win-Win.” Much like my two-part blog post earlier this year that touted the benefits to your business of implementing a telework program, flex time too can be a powerful catalyst for increasing employee morale and productivity.

Hewlett points out that flex time is a win-win in today’s economy since many workers will be happy to take less pay if their managers give them a more flexible work schedule. So not only could employers save money by embracing a flex time program, they could also get more out of their employees.

Flex time can come in a number of forms. For example, it may mean working four days a week for a total of 32 hours, and receiving 80% of the pay. Women are particularly attracted to flex time as Hewlett notes, since they are increasingly out-earning their husbands, while still facing domestic duties at home (e.g., as a mother).

A successful female employee and mother typically faces the dilemma of either quitting her job or living with the guilt of not spending more time with her kids at home while they are young. If the mother decides to leave her job, then the company loses out on the talent and investment in that employee. Flex time can potentially keep her at work, contributing to the company’s success, while possibly helping the company save money at the same time.

Ms. Hewlett is the founding president of the Center for Work-Life Policy, author of nine non-fiction books on business, and winner of the Robert F. Kennedy Book Prize. She has taught at Cambridge, Columbia, and Princeton.

Her latest book, Top Talent: Keeping Performance Up When Business is Down,” was released in October. Jeffrey Kindler, Chairman and CEO of Pfizer: “The right book at the right time. With skill and conviction, Hewlett provides new insight into motivating your top performers during tough times and preparing your organization for renewed innovation and growth.”

As we have discussed here in numerous blog posts over the last year, tough times are exactly when your company should invest in its best performers and mine all the talent your employees have to offer. This investment can come in the form of enhanced incentive rewards programs, imaginative leadership training, and other innovative programs to spur creative thinking and performance.

It will require a management team who is willing to embrace change, e.g., how and when employees work — in short, a team willing to flex different muscles. I’m guessing you’ll like how the results will look on you and your company.

The word “autumn” conjures up a number of different meanings for me: the colorful fall foliage, the flickering light from a jack-o’-lantern, and the smell of hot apple cider.

According to the American Heritage Dictionary, autumn not only represents the “season of the year between summer and winter,” but it also refers to “a period of maturity verging on decline.” Now that tends to put a negative spin on an otherwise delightful word in my book, but unfortunately it could be a term to describe some Fortune 500 companies.

Like the verge of decline that some of us may feel with each passing birthday (not me, of course), some seemingly successful companies of a certain age may already be in a gradual descent. And they may not even know it yet. In fact, the lay-offs and cut-backs made over the last year in response to the economic crisis may be masking decline that is already well underway for some companies.

Decline could be the result of not moving quickly enough to respond to a changing marketplace or a more innovative competitor. It could be the result of reductions in research needed to spur promising new products or services. It could be from a decrease in spending on high quality employee and manager training. Or it could be the result of an executive team that has paused too long to enjoy the fruits of yesterday’s harvest. Or, it could be all of the above.

Mature companies which lose focus and drive are destined to lose ground on the competition. Such lost ground over time could indeed prove fatal.

Corporate leaders must constantly challenge themselves and their teams. They must regularly retool and reinvest in their employees–and their company’s future.

In doing so, you’ll likely chase off those pesky autumnal goblins, and increase your chances for a more profitable season.

Is your company getting a good return on employee investment (ROEI)? Considering the total investment you have in each employee, you need to know that the benefits derived from an employee are in fact outweighing the costs. Costs typically include the base salary, bonus, stock and/or options, health and dental benefits, paid vacation, sick leave, 401(k) match, Social Security, Medicare, payroll taxes (UI), training, computer, phone – and more.

Companies spend a lot of time and energy measuring and growing their non-human investments, and dedicate considerable attention to getting a good return. Boards of Directors and shareholders hold publicly-traded companies’ feet to the fire on these returns as they relate to the investment costs – and rightfully so. But do they hold their investments in human capital to the same level of scrutiny? No, and usually it’s not even close.

How do you explain this, particularly when human capital-related costs are sometimes the largest single expense in a company? It is frankly indefensible. Most companies think they are doing enough by measuring employee performance via a merit-based compensation program. Whereas employee measurement is important, it is no substitute for getting a full return on the investment of that employee.

So what is the answer? A company should start by caring as much for its employees as it does for its non-human assets. Many companies pay handsomely to protect their reputations and to enhance their images with expensive public relations and advertising campaigns. They also spend large sums on buying or leasing space, maintaining and upgrading it regularly; and they spend heavily on facility security, technology and equipment upgrades, and facility grounds and upkeep.

I don’t dispute the need for these investments, but they are no more important than the upkeep and improvement of a company’s single most important investment – its employees.

Companies should constantly challenge employees through value-added training and development. They should utilize creative compensation programs to spur greater productivity and innovation. Companies should meanwhile be aggressive in managing out those employees who are not holding up their end of the bargain – that is, those employees who are taking more from the organization than they are giving to it.

In short, an employer should seek to appreciate its largest appreciating asset by mining and growing the talent that exists in its current workforce. Improving your ROI is smart business, and so is improving your ROEI.

With the economy in shambles, Washington policy-makers should resist the urge to shut out the world’s best and brightest talent by making our country’s already archaic immigration policies even more so. The anti-immigration crowd is louder and more invigorated than ever with the U.S. unemployment rate over 8% and heading higher. What we need now is courage from our government leaders if our country is to ever crawl out of its economic hole.

American innovation has long been without rival. However, it is now being challenged by countries like China, India, and South Korea who fully appreciate this fact: the team which educates and employs the smartest people will eventually win the game.

The globe’s brightest graduates working in this country don’t take jobs away from Americans; they create jobs. In this week’s Business Week, Vivek Wadhwa, underscores this point in ‘America’s Immigrant Brain Drain’ article: “Although [immigrants] represent just 12% of the U.S. population, they have started 52% of Silicon Valley’s tech companies and contributed to more than 25% of the U.S. global patents.”

Will we help the U.S. employee by turning away the top 100,000 foreign-born graduates each year in math, science, and engineering? American workers and our students need to be challenged by the globe’s very best. World-class athletes cannot be world-class without competing against the best in the world. And the same is true in business and education.

I know first-hand about the state of our global competitiveness. I came to this country 31 years ago as a high school exchange student from Tehran, and brought with me much stronger math and science skills compared to my 12th-grade Michigan classmates.

If our country does not move quickly to put smart policies in place to attract and keep the world’s smartest individuals–while better educating our own kids–we will not only lose our global innovative edge, we’ll never get it back.