Five Reasons Employees Are Your Company’s No. 1 Asset – Forbes

Successful companies know and value their staff. They know that employees are essential factors in any organizations success and, thus, work diligently to provide good pay, satisfying benefits, and positive work environments. I've found that if you value and treat your people well, your company will succeed and reap the benefits.

Happy employees equals greater productivity. Why?

1. Your people are your biggest resource and can affect public perception of your brand. For example, as a frequent traveler, I specifically choose Southwest Airlines because of the happy, engaged and efficient employees. Organizations such as Southwest Airlines and others that perceive value in their employees often function efficiently and are profitable. Great companies should offer financial and health and wellness benefits, as well as community outreach, employee engagement, travel and training and development opportunities. Southwest in particular always seems to be looking for ways to engage, grow and foster employee development. When a company communicates appreciation for its employees, those employees, in turn, are likely to appreciate the company. According to Gallup, they also tend to demonstrate increased productivity and loyalty.

2. Your employees are your brand ambassadors the face of your company. If your employee retention is low and tenure is short, new client acquisition may prove to be more difficult.

3. Retraining, recruiting and rehiring are expensive. It is costly (and not very cost-effective) to continually recruit new employees, spend money on job posting sites or pay head hunters to find staff. According to the Society for Human Resources Management, the average cost per hire in 2016 was $4,129.

Rehiring and retraining don't just cost the company in revenue and time; every new employee will also have a lower productivity period until they learn the ropes.

4. Employee turnover is costly in terms of valuable resources, but it can also affect morale in both current employees and clients. Employees may begin to question the quality of the workplace environment, as well as their own prospects for employment longevity. When clients see new faces too often, they may lose that personal connection with your staff and, naturally, may come to wonder why your company cannot seem to retain its employees. All of this can have a remarkably detrimental effect on day-to-day business operations.

5. Value your employees and staff, and you can increase your companys profitability. Companies that provide satisfying pay, benefits, personal time off and perks are on the right track. Take a moment to reference online articles about companies with impressive benefits. These organizations go above and beyond in terms of taking care of their staff.

The bottom line is this: I believe companies that value their No. 1 asset (employees) are more likely to succeed than those that do not. It's not just what the companies offer in terms of pay, benefits, etc.; it is also the underlying emphasis of the value they place on their employees.

Prospective employees, in turn, should research a particular companys retention rate and whether or not that retention rate is related to the ways in which the organization shows it values its employees. Such research can help an employment seeker find a company that knows and truly appreciates the value of its staff. Read Glassdoor reviews, and sort through them to make sure youre getting a good picture of either the company for which you are currently working (or managing) or a company for which you hope to work (or manage). If the company is a revolving door and has poor retention, you may wish to consider other options or changes.

In todays workplace, there are many wonderful, employee-oriented companies and organizations. Find (or create) one that genuinely values its staff and that engenders a positive work environment.

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Five Reasons Employees Are Your Company's No. 1 Asset - Forbes