There was a time when employees were expendable. There were always new hires to be found and people that wanted to work. The pandemic changed all that. Now good employees are golden and one must keep them as yours, or try to fill that hole in capabilities some other way.
Traditionally, companies did not value employees much. They were just another line item on the income statement. People like American financier Carl Ichan were expert at breaking up companies to gain shareholder value. But where is the company value without someone to do vital tasks? Of course, in the past the greater and more specific the education, the more valuable the employee, but then universities kept pumping out MBAs to PhDs by the dozens, so having an MBA or Ph.D. may have lost its value
What creates a valuable employee? For entry-level and service positions, just showing up for work when promised has value. In more technology-intense businesses, an education and punctuality is a valuable asset. Personal attention to education and business learning is also critical to being a good employee.
What would make a difference to a company that paid attention to creating employees as an asset? First, there would be less turn over and productivity would blossom, and most likely the result would lead to a better bottom line.
A positive management style focused on the growth and development of employees starts with a team of teams, dedicated to creating an environment where employees are considered as partners. Also management strives to make employees more valuable to themselves and the company.
How does that work? Retired General Stan McCrystal wrote several books, but the one that stands apart from the others is A Team of Teams. He talked about how they solved communications problems in Afghanistan for the command system. They accomplished this by having dedicated teams reporting upward and backwards to the lower ranks about the consolidation of information.
What does this have to do with employees being considered more valuable? By training and providing links both ways in an organization, it includes everyone. When people feel included and valuable, they work harder and become more valuable and each level is motivated to create a system of education for everyone’s learning.
Obviously, management must recognize and support the structure. To do so brings additional results such as better employee moral and increased production. Employee value comes from the top down, always. Management must see that employees are the lifeblood of the company. If not, it’s a group of people meeting at the same place every day, absent the value of a team.
Does it take work? Of course. Does it pay dividends? Yes, dividends in moral support, customer engagement and profits. Should employees be seen and compensated for their value? We have to answer that in affirmative also. It’s a self-perpetuating process. When you look at where the customer touch points are, one must agree that senior management could be mistaken. Its good to take care of upper and middle management, but that lacks the full understanding of the whole company. It’s a historical process that needs to be changed; employees are not indispensable anymore. They never were, but at the beginning of the industrial age when people were migrating from farms to cities, they were considered a commodity.
It’s critical to hold on to valuable employees and keep the skills they possess. Without the skills the company is hamstrung and will not grow and profit. What would better treatment look like in today’s world? A good benefit programs, employee training and more personal interaction by by upper and middle management with all employees. Also, it means giving more authority to lower ranks to handle larger decisions. This gives customer touches better results and leaves employees feeling more important and confident. Also people are realizing the value of a common issue is well-being, wisdom, wonder and giving back. It begins at the top and circles back to the top. Being a leader is critical and not easy.
Happy and confident employees are the best asset a company could have. And remember, one doesn’t own this asset, it’s a cooperative process—an infinite circle of learning, caring and respect for the common results. I see that smaller companies are better at this practice, but not always. We all have some learning for the future, and it starts with a conversation about what is the company-wide vision and how can we do this together. When do we start? Today.
