Our Greatest Asset is our People…but do you Know Why?
Saying your people are your greatest asset is a very nice marketing statement. But would your integrity be questioned because there is no sustainable application to make it happen. The truth is, people aren’t your greatest asset, unless they’re provided guidance on how to build stronger relationships at work. When relationships at work are strong employees perform better as individuals and in teams.
Decades of research prove that individuals and teams that get along dramatically outperform those who don’t in almost every important business metric. In fact, the single most cited reason (80%) why people leave their job is because of poor relationships at work. Individuals who have stronger relationships at work substantially outperform individuals who don’t, they’re more productive, more profitable, more innovative, have less accidents, contribute more…and on and on.
That’s compelling, but this is bewildering: Research reveals that on average companies spend $2,000 per year on leadership development yet employee engagement and customer engagement is at all-time lows. Also, more than 60% of CFOs do not know the return on their human capital investments. In fact, for the last 6 years in a row the number one thing cited to be preventing organizational growth is leadership development. I was asked the other day, “Why does it seem like there are more leadership consultants than there are good leaders?” Interesting question when put into perspective. After all trust is low, confidence in leadership is low, intentions to leave are high. In general, organizations are fascinated by leadership programs that do not give people the tools for building stronger work relationship skills.
So the reality is, many executives don’t know their people are (really) their greatest asset and they sure don’t know how to turn them into a great asset if they aren’t. For many the statement, “Our Greatest Asset is our People,” appears to be nothing more than marketing hype.
All of this at a time when organizations are trying to do even more with fewer people, it’s vital that work relationships are the strongest they can possibly be, and do it at scale across the organization. The relationships at work movement isn’t about making people happier; it’s about making organizations more productive. It’s about revenues and profits. The best companies are made up of more engaged employees. Employees are more engaged when their work relationships are the strongest.