Do you see you employees as assets or as an expense, a liability?
“Our employees are our greatest assets.” Back in the ’70s, the radio station I woke up to every morning burned that phrase into my brain. They played an Edmonton company’s ad everyday for months and they ended every version of the ad with that statement. It was the first time I recall hearing it, but many companies since have made that same claim.
But for the most part, many companies are lying when they make that statement! How do I know? When I see a constant stream of new employees, when I read continual job ads for a particular company, when I’m looking at a company where employees are not very happy or satisfied in their jobs I know they are not being treated as ‘assets’.
Employees who are treated as important assets, would not be leaving. They’d be telling all their friends and acquaintances about the wonderful employer they have and the company would have a pool of applicants knocking on their door waiting for an opportunity to join the business. You’ll reduce employee turnover by learning to see and treat your employees as valuable assets.
Many companies treat their employees as just another expense. And what do most companies do with expenses? They try to reduce them in every way possible. Keep the wages as low as possible. No training that isn’t absolutely necessary. Make do with outdated equipment. Produce more with less.
And then wonder why their ‘lazy’ employees aren’t motivated to work harder. “The economy is too good – nobody wants to work.”
And yet, there are companies around who aren’t hurting for employees at all. There are some companies that never run job ads, while others in the very same industries, in the same localities have ads in the paper every couple of weeks.