Employees – Assets or Liabilities? - Latest Blogpost
I used to have a neighbour who was a builder by trade, but his passion was collecting Morris Minor classic cars. He had a barn full of them from the standard grey/blue Morris Minors through the green and wood Morris Travellers, to a rare lilac Morris Million. He lavished all his spare time on the cars, restoring them and polishing them. They were cars of beauty and people started asking if they could use them for weddings and other occasions and film crews often hired them for their productions.
“What’s this got to do with employees?” I hear you ask. Bear with me and I will explain.
My neighbour discovered that his cars were so popular that he turned his passion into his business – but in doing so ended up focussing on the demands of a business – marketing, sales, finance and all the administration that goes with it. Unfortunately in doing so, these diversions meant that he started to neglect the restoration of the vehicles themselves and they no longer looked as shiny. He had stopped lavishing that care and attention that had once made them so sought-after. They were no longer as valuable and were beginning to take look more like liabilities. His business started to go downhill as a result.
The same can happen to employees – if you spend time and attention on them, they will flourish and prosper and be productive members of your team and be positive assets for your business. But the moment you stop paying them so much attention and take them for granted, they can become less enthusiastic about your business when faced with customers and less productive. If you stop training and developing them, they may become bored and may start making mistakes. If you don’t heed any of the warning signs they display, it can cost a fortune in management time and tribunal costs dealing with grievances or other performance management action. So investing a little bit of time and attention will repay you in dividends. Make sure that your employees are assets and not liabilities!
Posted on 19 Nov 2016