If Employees Are Your Most Valuable Asset, Are You Getting Value For Money?

Peninsula Team

July 15 2009

Here, we take a look at employers most valuable assets, their staff. We beg the question to employers; if employees are your most valuable asset are you getting value for money?

When times are tough and companies have to watch every penny, most organisations will review their spending to make sure that they are getting the best return on their money. However, while this philosophy is usually applied to capital equipment and premises it is less commonly applied to employees.

Normally the only consideration given in respect of employees in times of recession is on general numbers and redundancies. However, in uncertain times companies need to be satisfied that they are getting their money’s worth out of their employees.

When times are good companies can cope with work that is below the preferred standard because there is enough trade to maintain customer levels. In times of recession, customer retention becomes much more important. As the market becomes more difficult it becomes far more important for companies to deal with any issues of inefficiency and ineffectiveness as these have a greater impact on the company.

As part of any review of the company, employers should be evaluating the different job roles to see if they still meet the business needs. Employers should be clear about what a role is intended to accomplish and should set methods for assessing if those roles are being completed properly.

The duty of an employee is to carry out the job for which they were hired. The challenge for an employer is to be sure that the work is being performed to the required standard. The starting place for this is reviews and assessments with the employees. Look at the work they have been completing and see what they are doing well and if there are any areas where there could be improvement.

Where there is room for improvement look at what can be achieved. Look at any appropriate training and set measurable, achievable targets to help the employee resolve any issues of underperformance. If an employee is consistently underperforming then it can become necessary to invoke the capability procedure.

Companies often want to see employees putting in extra effort above and beyond what is required from them. However, it is necessary for companies to understand that they will need to keep their staff motivated and recognise when someone performs well or goes that extra mile. Where employees feel supported and valued they are more inclined to do that little bit extra. If they feel that their extra work is not recognised, or just taken for granted, then they are likely to consider that it is not worth it to them to do the extra when they get treated the same as those who do nothing.

The message is simple. Employers need to make sure that they are getting what they have paid for and encourage their employees to go that little bit further by rewarding employees who provide added value. Employees need to recognise that there is no such thing as a job for life and if they want to keep their job they will have to show that they are providing value for money.

Our Advice Service is available 24 hours a day, every day, to help assist you with all your recruitment needs. We’re only a phone call away so please call on 0844 892 2772 and let us help you through the correct process.

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