12 Reasons Why Your Employees Are Your Company’s Most Valuable Asset
When it comes to your company’s most valuable asset, a lot of areas come to mind. Research and Development, marketing, or even a patent might take the top spot. But that’s not even close to your company’s most valuable asset. The answer is the tens, hundreds, or thousands of employees that make up the workforce of your company. Therefore, it is your job to invest in your people by providing them with the best micro-learning training and development that you can.
However, today, it’s considered to be the knowledge of its employees and their productivity. All intangible assets such as patents, copyrights, intellectual property, brands, trademarks, and R&D are created by people. Therefore, people matter most to you and your business. They are the most essential contributors toward profits and shareholder value. That said, people are key assets for any organization. In today’s continuously changing business world, it is human assets, not fixed or tangible assets, that differentiate an organization from its competitors. The knowledge economy distinguishes one organization from another.
At eLearning Partners, we focus on your people. We are your trusted partner with the sole goal of producing high-quality micro-learning content for all of your time-sensitive projects.
How people benefit your business
Employees champion your business and determine its success or failure. The work they do determines what customers and partners see, so it’s important for you to treat your employees with the value they bring. Employees leading an organization might be able to be replaced physically, but their skill sets and knowledge can’t be. This is because each person hired brings a different set of skills to the table even though the job yields the same set of skills.
Besides, the skill set of employees accounts for 85% of a company’s assets. Therefore, employee efficiency and talent determine the pace and growth of an organization. Organizations need to recognize the value their employees have and praise them accordingly. This includes their knowledge, expertise, abilities, skill sets, and experience. These are all invaluable and intangible assets for securing a future for the company. So, when employees feel valued, they will gladly compete in the race and beat the competition.
Reasons employees are considered invaluable assets
1. Essential to providing goods or services.
Improving employee efficiency and performance are major priorities for an organization. Employees produce the final product, take care of finances, promote your business, and maintain the records for decision-making. They figure out how to keep making items and selling them to your customers.
Without your employees, you would not have a product or service to sell to customers.
2. Employees are the first customers of any organization.
If the organization does not have happy and satisfied employees, they will not deliver performance-oriented results, leading to the reduction of the profits of the organization.
Remember that you cannot have your product or service without employees, so focus on making them, as your first customer, satisfied.
3. Employees give their 100% to any organization.
No matter what size the business is, success is the result of continuous hard and smart efforts put in by happy and valued employees. This results in keeping the organization going, competing with its competitors, and elevating ahead of them all.
4. Employees are the face of an organization.
It’s the satisfaction level of your employees that matters the most. So, if employees aren’t happy, they might spread negative word about the organization, even after leaving it. What’s more, an unhappy employee will lack motivation and will not perform well, leading to unsatisfactory performance. This results in unachievable performance targets, low profits, and employee churn.
Think of your employees as the best marketing for your business. Remember that they are the face of your company. They will talk to family and friends, and even new people they meet, about your company. When someone asks what they do for a living, you want them to have positive things to say about your company. Happy, satisfied employees will highlight the integrity of your business.
Related Read: The Power of Credibility: Reviews vs. Testimonials vs. Social Proof
5. They are the nurturers of the organization.
Employees are the ones who give their heart and soul to an organization. Similar to how parents raise their children, employees nurture their organization with their values and endless efforts to take it to the top.
Employees don’t just nurture the organization; they also make it a fun place to work. It is much more fun to work with other people than by yourself in a vacuum. Your employees make your business more fun for you and for their fellow employees, motivating each other to do their best.
6. Skilled people with knowledge.
The most irreplaceable factors employees bring to the table are their skill sets. Their skills include training and development programs, experience in a specific field, and an understanding of the company's culture, systems, and work procedures.
While all employee skills are important, their tribal knowledge of your business is worth emphasizing. This is the knowledge and experience they gain from decades of working with your company.
A common mistake companies make is letting long-standing employees leave without working to retain their tribal knowledge. You won’t find someone to replace these employees, especially with their knowledge and experience.
You can somewhat mitigate this loss of tribal knowledge with an eLearning course. Make it a point to do this before employees reach retirement. Better yet, get in the habit of having long-standing employees become subject matter experts in eLearning content to retain and share their tribal knowledge.
Related Read: How to Reduce Employee Turnover With eLearning
7. Employees are the base of a strong and long-running organization.
Employees run the organization, no matter what level. This means their strength, commitment and dedication, and their emotional connection with the organization can’t be judged as assets in monetary value.
This is not just an emotional connection. You also rely on your employees to ensure your systems run smoothly. They are the ones that will spot inefficiencies and areas for improvement. Think of your employees as building and maintaining the base of the skyscraper that is your business.
8. Motivated employees make a significant difference.
Employees reach new targets, meet customers’ demands and needs, develop new and innovative products, and perform enormous and huge efforts to achieve the company’s objectives.
9. Employees are major contributors to the profits and worth of the organization.
It goes without saying, but employees can’t be given a monetary value for the effort they put in to help the business earn profits. This results in excellent customer reviews and creates brand loyalty from customers. Therefore, employees are the most valuable assets an organization has. It’s their abilities, knowledge, and experience that can’t be replaced. So, going forward, organizations need to place emphasis and importance on the contribution that employees have in order to propel themselves ahead.
10. Employees let you delegate tasks.
Your employees give you the ability to delegate tasks based on their skill sets. Let each employee focus on the tasks that are most in line with their skill sets, maximizing their efficiency.
Even more importantly, delegating tasks frees up your time to focus on the things that only you can do.
11. Employees add value to everyone.
Employees are irreplaceable. By having employees, you create jobs for each person, whether they are a full-time employee or an independent contractor. You provide value to them, but they also provide value to you.
They also provide value to your community and country as a whole. Having employees creates jobs, which encourages money to flow into the economy.
12. Employees give you business continuity.
You will eventually want to retire, and when you do, your employees will be there to run your business for you. Having employees and properly training them gives you business continuity, letting you solidify your legacy.
How to serve your employees once you understand their value?
Once you recognize that your employees are your company’s most valuable asset, you want to make sure you serve them well. One of the best ways to do so is to give them access to valuable training content.
Create eLearning content that keeps them engaged and is searchable. This way, they can easily access the exact information they need from the content when they need it.
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