The success of your business depends on a host of factors: sound strategy, marketable product or service, efficient processes et cetera.
However it ultimately falls on the shoulders and into the hands of people within your organisation to execute on your strategies, plans and processes, to make it work.
And the more motivated and engaged your people, the greater your business results. Gallup found that teams in the top 20% of engagement levels, had a 41% reduction in absenteeism and 59% less turnover. Imagine if you more of your people were staying longer with you and turning up engaged, energized and ready to work, where might they take the business to?
Also people play an elevated role in today’s information age, where a greater number of jobs require a higher level of cognitive skills, such as creativity, problem solving, out-of-the-box thinking. The wealth of innovative and creative solutions will ultimately spring forth from your people.
Businesses that understand and leverage these intrinsically human traits – motivation, engagement, creativity – will be the ones to gain an edge over their competitors and thrive.
On the flip side, we have met many a company’s progress that has been restrained and held back by a host of people problems. And we see how the business suffers from the business leaders having to constantly be firefighting and dealing with them day-in-day-out, leaving them exasperated, drained and fatigued.
Perhaps you can relate to any of the situations in the following inexhaustible list:
- Can’t seem to find people to join the company
- Takes too long to find suitable talents to fill roles
- The people who get selected seem to be of the wrong fit
- Can’t retain people for long
- Too many jobs, too few people to do them
- People don’t see the relevance of their job to business outcomes
- People don’t know where to find HR-related information
- People don’t know where the company’s direction is
- Employees threaten to file complaints with the Ministry of Manpower or the Tripartite Alliance for Dispute Management
- People are under-performing
- You have star performers you absolutely cannot afford to be offended
- People with poor work ethics, or refuse to work well with others
- People who resist change or simply refuse to learn anything new
- Everyone says they are happy with one another, and there is absolutely no conflict
- Individuals are frequently absent, whether taking MC or urgent leave or turn up late
- People are pushing away tasks, screaming, “That’s not part of my job scope!”
- Supervisors are micro-managing subordinates
- Managers simply are not managing very well
- Managers are not delegating work to subordinates
- Lack of effective leaders
If any of these scenarios strike a chord in your heart, know that these people-related problems are already impacting the progress of your business and in turn the growth potential of your company, by costing you time, energy, money, that could otherwise be spent on productive contributions.
If the common proclamation “People are the most important asset in my company” rings true, then it will reap rich dividends when you pay a very close attention to your people. We believe that the future of any organisation lies in the continual development and transformation of one’s human capital. Growing your people will grow the business.