Most Valuable Asset
Many people think of dollars and cents when asked about assets. However, that line of thinking is like putting the cart before the horse.
Dissect any annual budget and find personnel costs are at the core – generally adding up to 80% of all expense lines. By enhancing your employee skills through education is investment towards retention and will decrease your turnover rate. Reducing attrition by even a fraction of a percentage, will save hundreds of thousands of (list your currency).
Richard Branson says, “Train people well enough so they can leave; treat them well enough so they don’t want to.”
A scary concept, akin to leaning forward over the tips of your skis in deep powder. Certainly a risk, but also an incredible reward for both employee and employer. Your employees are your greatest asset, make them feel like it.
In simple terms, our employees are looking for development, personal and financial growth, as well as security. In today’s world employee development is so easy to deliver, but in many organizations it is also the most overlooked.
Such a waste.
All it takes is a culture of understanding what the MVA is in an organization and a willingness to invest in that resource. Over the next few weeks, we will be taking a deeper look into what our employees need and how best to serve them through a series of blog posts called MVA.
Treat your staff like they are the MVA’s that they are and watch the results.
Or you can keep dragging that cart.