When an organisation declares ‘our employees are our greatest asset’, what thoughts come to mind? Many see such a statement and think to themselves, ‘this is a company that recognises the vital role played by its staff and clearly appreciates their efforts’. Others shudder at the labelling of people as ‘assets’, dismayed by the comparison of human beings to items on a balance sheet that are OWNED by a business. And of course, there are those who will simply say…’that doesn’t mean anything’.
Throughout this post we’ll be investigating why employees are considered to be an organisation’s greatest asset before outlining numerous ways in which organisations could potentially enhance workplace productivity.
What better way to start than with a good old-fashioned definition? An asset is generally defined as something or SOMEONE of USE or VALUE. A pretty apt description for an employee, I’m sure you’ll agree!
Over 1,000 UK-based companies were recently surveyed to discover the key attributes displayed by employees that make a workforce an organisation’s most prized asset. Here are some of the key points:
Unfortunately, Not ALL Employees Are Assets – Over 70% respondents were quick to point out that only ‘hard working’ or ‘engaged’ employees can be described as assets. Engaged employees go the extra mile for their employers and can be crucial in an organisation’s quest for competitive advantage. On the flip side, disengaged employees are generally unproductive and often only prepared to do the bare minimum required to keep their job. They’re also prone to a sick day or five throughout the year!
What Makes an Employee an Asset – For too long now, we’ve heard companies refer to their employees as ‘our greatest asset’ without an explanation as to how or why. It’s time to get down to the nitty-gritty, what makes employees so valuable? One respondent, currently occupying a senior management role within a leading UK manufacturer stated, ‘the reliance which organisations place on their staff has never been greater, after all, they really know what goes on day in day out’. The view that employees are the ones in the ‘thick of it’ was predominant throughout the survey. The ability to ‘identify what is working well and what isn’t’ was a popular response along with the dedication to ‘go above and beyond to complete the task at hand’. In addition, the knowledge and experience to provide ‘key insights’ with regard to ‘optimising working processes’ were also much sought-after traits.
Now that we know what employees are bringing to the table, what can employers do to make the most of their number one asset? Here’s some food for thought:
Solving the Disengaged Problem – The majority of respondents believed that employers are largely to blame for the creation of a disengaged workforce. As we touched upon earlier, absenteeism can be a particularly costly side effect of disengaged staff. Furthermore, others could well follow suit if they see their colleagues successfully getting away with the odd ‘sickie’. Ceequel® Time and Attendance Software contains a range of intelligent absence management solutions such as Bradford Factor Reporting which provide managers with all the necessary information to nip employee absenteeism in the bud. Career development opportunities and the provision of training and development activities can also be extremely effective tools in keeping employees sufficiently engaged. Unsure where to begin with training and development or succession planning? With the comprehensive Training, Skills and Resource Matrix available through Ceequel® Human Resource Management Software, HR departments can ensure that their staff possess the required skills and qualifications to ascend the corporate hierarchy.
Reviewing & Optimising Working Processes – According to the aforementioned survey, employers place considerable value on a person’s ability to recognise processes that are working well and identify any potential problems. Ceequel® Shop Floor Data Capture offers an invaluable, real-time, granular insight into an organisation’s man and machine efficiencies, enabling companies to swiftly identify any troublesome bottlenecks in working processes and significantly improve strategic decision making.
The Gift of Time – Occasionally staff may be required to stay late to finish a task. Fortunately, engaged employees truly are assets to their organisation and will not hesitate to go above and beyond for the call of duty. However, they may become disillusioned if these late finishes turn out to be a regular occurrence and their work/life balance starts to deteriorate. In order to maintain employee morale, countless organisations have introduced Time Off in Lieu (TOIL) policies which reward staff with time off as opposed to overtime pay. Although an effective motivational tool, some organisations have found TOIL particularly difficult to manage. Thanks to the unparalleled functionality of Ceequel® Time and Attendance Software, all employee TOIL calculations can be performed rapidly, to the highest degree of accuracy. What used to be a long, productivity draining process now takes a matter of minutes!
If you would like to learn more about Ceequel® Time and Attendance or any of our other dynamic workforce management solutions, please contact ELF Productivity. Alternatively, a range of brochures can be found here.