Understand Your Most Expensive Asset
Practically every business shares the same largest expense – their employees. Even in the age of robots and computers, human talent is the source of innovation, growth, and competitive edge for every single firm.
From a GAAP accounting perspective, most employee expenditures are considered to be costs. Employees are not subject to depreciation, as are machines, for example. This isn’t changing anytime soon.
But from a management point of view, employees are more like a portfolio of assets – with interlocking strengths, weaknesses, and capacities. If you run a call center, your staff is your primary tool for processing calls, arguably more important than the phone switch. In this sense, employees are key assets, much like machines, for getting work done.
With an approach that helps you hire or develop a more efficient and long-lasting employee, production (productivity) will go up and expense will go down.
To learn how to value your workers as productive units as well as human beings, that can be intelligently optimized for targeted outcomes contact us via the form below for a conversation.