The foundation of the sustainability of a company
Most people are aware of building a strong foundation and practising the fundamentals are the most important step in developing any skill. For instance, consider flying a plane without undergoing any formal training, you would put your life in danger, and your passengers too!
Some people might think that as they learn more, they become more enthusiastic, engaged, and passionate about what they are learning.
However, is it true?
Let’s take learning how to play Guzheng as an example. Some people find learning GuZheng to be quite exciting at first, but as they go along, the learning progress becomes more and more difficult, which causes them to lose interest and give up halfway through.
Why?
One of the reasons is not laying a good foundation and practising basic skills.
The market economy and society’s social utilitarian mindset currently have a serious problem. Majority of people strongly dislike the idea of having both feet on the ground, as they don’t work or study in a useful way, and prefer to “fly” without understanding the basics. They frequently exaggerate things or act hurriedly as a result, which results in less-than-effective work being completed, but they are still employed and paid. Indirectly, this significantly reduces the company’s effectiveness and causes it to underperform. To solve this issue, it is emphasized that practical work and training methods are essential, along with the importance of using fundamental, basic, or professional skills, in order for a business to grow quickly and sustain itself in the market.
Can you relate anything of this to your business?
In this case, we can relate everything with the foundation and most valuable asset for any business —— its people. Your human resources are the foundation that set you apart from your competitors in the dynamic business world. The collective expertise of your staff helps to distinguish why your company is superior to the competition and why customers should use your goods and services.
Why is people the foundation and most valuable asset?
1. People help businesses to grow and endure
Employees are essential to the development and survival of businesses. To increase their capacity for workload and to expand their operations to new areas, business owners need employees. When it comes time for business owners to move on to other endeavours or retire, they depend on their employees to carry on their legacy and keep the company running smoothly without them.
2. Knowledge and skill sharing
Employers with knowledge and abilities that complement their own are selected by smart business leaders. These workers are capable of handling tasks that are beyond the scope of the leader. In order to increase the level of understanding within a company, they can also teach new hires what they know and how to do it.
3. They drive profits
By boosting sales and lowering operating expenses, committed employees assist businesses in maximising profits. Employees create goods and services, market them, and offer them to customers. A casual consumer can become a regular customer through quality control efforts and helpful customer service. Employees frequently spot cost-cutting opportunities that could increase profits even more.
4. Everyone is Unique
Being unique is one of a person’s most valuable qualities. Because each employee is unique, unlike most corporate assets, they are all irreplaceable. Businesses that lose customers can find new ones to buy from them, the products of a supplier might be replaced by those of rival suppliers, and lost profits can be made up. However, each employee brings a unique set of skills, knowledge, and personality to the workplace. This combination impacts a business in slightly different ways. While employers can train new hires and fill open positions, it is impossible to duplicate each employee’s individual characteristics.
5. Source of innovation
Employees frequently bring fresh idea and abilities that can inspire a stagnant company. They improve business operating procedures and create new goods and services. For example, businesses can increase efficiency and cut costs by improving operating procedures. Then, businesses can remain relevant and appeal to shifting consumer needs and wants by continually developing new products and services.
And guess what?
Businesses that value their employees as assets and develop their talent have higher success rates. Moreover, employee potential is optimized by making them feel appreciated and by fostering their talents. On top of that, employees who understand that their employers value them, on the other hand, are more engaged, productive, and fully committed.
Conclusion
In conclusion, employee turnover is a multifaceted issue with far-reaching implications for organisations. By addressing the underlying causes and implementing proactive retention strategies as mentioned above, companies can build a resilient workforce poised for long-term success.
So, since you already know what your people can do for you, and the importance of them as a foundation to your company, did you engage with your people, passionate about providing them with proper and fundamental training?
Imagine, where’s the castle where there are no solid bricks at all?
Start growing your business fundamentally and in a FUN way in 2023!