A common mistake some businesses do is not engaging their employees enough. Employee communication should not be a short-lived affair where you celebrate once they are hired and ignore them later. In many cases, it so happens that you celebrate new strategies or initiatives, but they fizzle out subsequently. If you ask business owners what their greatest asset is, you will hear a wide range of answers ranging from state of the art technology, creative and innovative ideas, result-driven solutions to cash flow. While these answers may count, the reality is far different. It is in fact the employees, who are the biggest asset to your company.
This is why you should take some time and effort to engage them as well as make them feel like valued members of the organization. In very rare cases would you hear a business owner claim that the employee base or the people are the biggest assets of their company. In a recent Manpower survey, it was revealed that over 83 percent of the continent’s workforce would seek new jobs and employers in 2014. This indicates that the rate of disengaged workers is on the rise.
Valuing your employees is important
Despite the reality of the employees’ importance, the workforce of any company is mostly treated as a liability or added cost instead of asset. Most business owners, executives and entrepreneurs view employees as a hurdle instead of valuing their expertise, knowledge and experience in all fields of business. While most companies have chief ‘something’ officers for every branch and department, they hardly any have an executive in place just for the people. Even companies that have social media executives tend to overlook the very people that make social media happen.
Time to change the perspective
Human capital is an untapped and often ignored asset of a company and it is high time that business owners take it seriously. Employees can make or break every operation in the company. Money matters are one of the most common situations where employees are kept out of the loop. When executives are asked whether or not their employees know how and where the money is circulated within the company, almost 99 percent reply with a resounding no. In fact, some of them believe that employees are only required to do their jobs and need not know how much money executives make. This archaic form of leadership has caused much discord in companies today.
When an employee is not made privy to important company information, he/she can feel left out and undervalued. While sensitive details need not be shared, employees should know how the firm they work for, makes money and how that money is being used to improve the organization as well as the people who work for its success.