Are Employees Really Your Greatest Asset?

Most organizations promote their employees as being their “greatest asset.”  Unfortunately, most employees indicate they hardly feel like an asset, much less among the greatest assets of the company.

According to the U.S. Department of Labor, the average employee stays at a company for 3.5 years and makes about $40,000 per year.  Therefore the average “employee asset” costs organizations just in wages $140,000.  How much effort do you invest in your employee assets as compared to your investments in other $140,000 assets?  Think about how much time you spend buying and maintaining your computer systems – how does that compare to the time you spend hiring and accelerating the performance of your direct reports?  Ask yourself these questions:

  • Do you give your “greatest assets” daily, customized feedback?
  • Do you invest 30 minutes of uninterrupted one-on-one time weekly with your “greatest assets” talking about their issues?
  • Do you review your “greatest assets'” accomplishments, personal development, core value adherence, and future objectives at least quarterly?
  • Do your “greatest assets” have clear job accountabilities specifying key activities, time percentages, priorities, and success factors?
  • Do your “greatest assets” know what the organization’s goals are and do they have goals that are aligned to the organization’s?
  • Do your “greatest assets” continually work at developing to be a better person – physically, emotionally, intellectually, and spiritually?
  • Do you have a succession plan for your “greatest assets” so they don’t feel trapped in their role?

Remember, unlike most assets on your balance sheet, these assets should appreciate over time so the investment you make in them should continue to net you great returns.  Invest in your greatest assets regularly and empower them so you’ll all be successful.

Explore posts in the same categories: Leadership, Performance Acceleration

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