Employees: The Indispensable Asset
Employees are a company’s most valuable resource. Despite this, many businesses mistreat their staff. Regrettably, our system has become trapped in a self-reinforcing command loop: Without much consideration for the human dimension, to increase shareholder value at all costs.
People are the best investment you can make. Employees are the foundation of any business. According to Gallup’s research, disengaged employees cost businesses between $450 and 550 billion in lost productivity each year due to low performance and frequent absenteeism. Investing in people boosts the organization’s performance. Furthermore, one of the most effective motivators for retaining employees is to work on their development. Lack of advancement possibilities is one of the most common reasons individuals leave a firm. Employees may see a company’s refusal to invest in training as a lack of interest in their professional development.
According to research2, employee satisfaction is linked to a company’s financial performance. Better stock results are correlated with positive company culture. Happy employees make their customers happy, who in turn make shareholders happy.
Your front-line personnel is the most familiar with your consumers because they interact with them on a daily basis. They know how to make your customer service and products better. Every day, they use your internal tools and systems.
They know how to optimize processes to save money by increasing efficiencies. Employee empowerment fosters a sense of ownership in the firm. This enables workplace creativity and innovation, which is crucial to compete in today’s VUCA environment.
Your employees are your irreplaceable assets. You can buy equipment and machines that other companies can also purchase, yet your talent and people are irreplaceable. Your people create your culture, your brand, and your reputation. Therefore, employees need to see and feel that you care, not only professionally, but also personally. Investing in employees involves fostering a positive environment that’s healthy enough for them to stay. An environment that encourages employees to stay and invest their time, energy, and hearts.
1 LinkedIn, 6 Nov 2019, Brigette Hyacineth, Treat Employees like assets not liabilities, Accessed 11 Dec 2021, https://www.linkedin.com/pulse/treat-employees-like-assets-brigette-hyacinth/
For more about this topic, download our latest book "Moving From Employees to People" for FREE: