Final answer:
High-performance work practices are true to the concept of leveraging human capital to enhance organizational effectiveness. These practices encompass investment in workforce skills and creating positive organizational cultures that encourage productivity and innovation.
Step-by-step explanation:
The perspective that effective organizations incorporate several workplace practices that leverage the potential of human capital is indeed referred to as high-performance work practices. This is true. High-performance work practices include a range of approaches to enhance organizational performance, such as promoting a work-family balance, encouraging diversity training, allowing telecommuting, and using different leadership styles like transformational leadership and transactional leadership appropriately.
Organizations that employ such practices believe in investing in their human capital—improving the health, skills, knowledge, and overall qualifications of their workforce, since a competent and motivated workforce significantly increases productivity. These practices can create organizational cultures that are conducive to job satisfaction, innovation, and competitive advantage. For instance, allowing telecommuting employees to set their own hours can enhance employee satisfaction and productivity, thus contributing to the high performance of the organization.
Motivational theories such as McGregor's Theory X and Theory Y inform these practices. While Theory X assumes people are inherently lazy and need control, Theory Y posits that employees are naturally motivated to work hard, seeking autonomy and creative solutions to problems. The application of Theory Y is often reflected in high-performance work environments.