Cultivate For The Future
“People are our greatest asset.”
We’ve all heard it. Many companies proclaim it. You may even have said it yourself; but do your actions, comments, policies and payroll reflect that sentiment?
When it’s time to sell your company, the quality and value that your employees bring to the table are part of the deal. So if employees are your greatest asset how do you ensure that you leverage that for everyone’s benefit?
All assets require maintenance, upgrades, care, and attention in order to preserve and/or improve their value. What are you doing on a regular basis to improve upon your human resource assets so they continue to add value to your business?
According to Great Place To Work®, millennials (those born between 1981 and 1997) now represent the largest percentage of employees in the workforce. And within five years, they will become 75% of the global workforce. That means that they need to be taken seriously and better understood by older employers and managers if they want their businesses to continue to grow and thrive. It is especially critical that you know why they don’t stay.
Unfortunately, most employers do a poor job of engaging and retaining millennials. More than any other generation, they lack faith in their leaders. Only 44% are experiencing what they consider to be a great workplace. But a lot of people get millennials wrong: “Far from being selfish job-hoppers, they are just searching for a position with great leaders, fair base pay, and support for their real life needs. And when organizations do deliver on those requests, millennials deliver big-time for their organizations.” They are loyal and willing to work hard. They go on to say that: “Millennials who experience a great workplace culture are 50 times more likely to plan a long-term future at their company compared to millennials who don’t.” And, they are 149 times more likely to strongly recommend a company that’s a great place to work to friends and family! That’s the best, least expensive source of future employees!
Identifying and addressing all the variables that you need to develop a better culture requires more space than I have and it would be presumptive of me. But you must do it. When it comes time to sell your business, you need to have something to sell. The best way to get that information is to ask. Ask your employees. If you’re interested in learning where you can make the biggest impact, enquire about our CORE survey. It will get you the information you need, inexpensively and anonymously, in an objective, neutral manner.
If you want to retain your best employees, you need to know what they want.
May 4, 2020
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