Successful companies know and value their staff. They know that employees are essential factors in any organisation’s success and, thus, work diligently to provide good pay, satisfying benefits, and positive work environments.
Businesses should know that the skill-set of their employees accounts for 85 per cent of the company’s assets. Therefore, the abilities and skills of employees determine the success of the company. Employees are the backbone of an organization. If they do not correctly perform their responsibilities, the company will suffer.
For this, every organization needs to value its employees as an asset. Their employee’s skills, abilities, knowledge, and experience are intangible and invaluable assets in securing the organisation’s future. Valued employees’ positive mood will directly impact the processes, profits, and productivity of the organisation. They will gladly engage in the organisation to overtake competitors and stand or grow with the company.
Speaking on this, an entrepreneur and business management expert, Dr Timi Olubiyi, stated that employees’ abilities, knowledge, and experience cannot be assigned a monetary value.
According to him, no two employees are the same, and although one can substitute the other for some operations, they will have different quirks and techniques in working that will affect the whole company dynamics.
“When a skilled and talented worker leaves your company, you cannot just replace them by bringing on anyone you did like to hire. Their knowledge and skill must be equivalent to the employee who left the company. However, every individual has different capabilities and potential that need to be incorporated into the company’s processes to adjust and work well with others.”
Olubiyi added that “as a HR manager, one must know that the employees are the most important asset any company has. They operate and keep the company working. Their skills and abilities differentiate your company from its competitors, and they contribute towards shareholder value and profits.”
Reasons Why Employees Are Vital
They Deal With the Customers: Employees are in the frontline and have the information on the customers’ needs. This enables them to anticipate customer needs, identify new trends, and improve current services or products based on the customers’ feedback.
They Know How To Work And Improve The Systems: Employees use the company’s internal tools and systems every day. They will be the first to identify a possible problem with the systems as they are familiar with them. They can also provide insights on how to improve them by coming up with solutions and sharing ideas.
They Connect And Keep The Company Running: Every department of the organisation has different employees with various specialisations and responsibilities such as marketing, finance, production, information technology, etc.
They Are the Company’s Brand Ambassadors: When employees are happy with how they are treated and recognised by the company, they will be loyal and proud of being a part of the company.
They Are the First Customer In Any Organisation: Employees possess different skills along with knowledge. Their skill may consist of training and development programs, expertise in a specific field, a keen understanding of the procedure of work, work culture, and overall system. Satisfied and happy employees deliver high performance and productivity, thereby increasing the profits of the organisation. Prioritise your employees like how you prioritise customers.
They Nurture An Organisation: Happy and valued employees give their 100 per cent effort to the company. They strive hard with their skill-sets and values. Well-trained, motivated, and experienced employees will deliver excellent customer service that makes the organisation stand out from the competition.
They Increase The Company’s Productivity: Companies who value their number one asset (human resources or employees) are more likely to become successful than those that do not.
They Strengthen An Organisation’s Long-Term Prospects: It takes time to find eligible people to replace great workers who left an organisation. If you see your employees as assets, you will do everything to keep them.
They Are The Foundation Of The Company: If the employees are not engaged or not motivated, the whole organisation will crumble. This is the primary reason why employees are the most valuable asset for an organisation.
Employers should recognise employees as the most significant asset, after all, motivated employees can make or break a company. These invaluable and intangible assets will help in securing the future of the company, so Companies should take care to recruit the best ones.
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