When it comes to estimating the overall value of a company, there’s much more to factor in than just production and profit margins. In most organizations, employees have an impactful role in business success, directly affecting whether or not it achieves its full potential. And the truth is, employees really do make a difference — which is exactly why it’s important to consider their contributions in the growth of a business.
Whether preparing a valuation for the company, getting ready to review selling a business checklists, or revising the ways in which HR initiatives address employee needs, it’s important to get a full picture of your organization’s biggest asset: its employees.
Consider these seven ways employees can add value to your business.
1. They are the real backbone of your organization.
Every business relies on their workforce showing up and putting in the effort — for most, this means coming to work every single day or for several shifts a week. Most operations can’t run on a single worker alone, which is why it’s important to recognize the dedication that employees show when getting their work done each and every day. Though teamwork can be difficult, tense, and uncomfortable, learning to work together is absolutely essential for mid-size and large organizations to operate. Recognizing the employees’ devotion to teamwork is important so that they feel appreciated and seen.
2. They can make or break the business.
Without the employees, not much would get accomplished on the ground-level for most organizations. Thus, employees really do have the power to make or break the business. Specialized skill sets, efficiency, and a feeling that their work is making a difference can help employees feel motivated to do their best. And vice versa, employees that slack on assignments, skip shifts, or perform their roles haplessly may end up costing the business time and money — a risk that most organizations can’t afford to take.
3. They can open up new opportunities for the business.
Because they’re present day in and day out, employees have an insider’s view of how the organization operates and the unique challenges standing in the way of success. It’s not uncommon for employees to see great opportunities for networking, collaboration, marketing, and improving operations that others simply can’t spot from outside of the organization or from management positions. Their fresh ideas can help business owners improve procedures and keep things running smoothly.
4. They are your business’ first customers.
People gravitate towards certain jobs and career opportunities based on their interests. In most cases, employees are attracted to organizations because they appreciate the specific goals, values, or products put forth by the business. When these fans experience a fulfilling work experience at one of their favorite business enterprises, their devotion and appreciation for the organization usually deepens, and in many cases, they become lifelong customers and advocates for the business. This loyalty extends the overall reach, reputation, and growth of the company itself — an advantage that shouldn’t be taken lightly!
5. Employees are the #1 advocates for the business.
In addition, when an employee has a great experience on the job, they usually spread the word to everyone they know. Employees can defend a business’ reputation, services, and quality in a much more genuine way than any marketing campaigns ever could. On the other hand, however, if an employee feels unhappy at work, they can end up spreading their concerns and complaints about the company to friends and family, and even if they don’t have ill intentions, these complaints can soil the reputation of the business. With that said, it’s important to stay connected with employees and take the time to understand their experience of the company.
6. Employees are the basis for your business' success.
No matter how much a product or service is loved by the community, if the business isn’t able to support itself financially, it isn’t likely to last. When CEOs and investors assess the state of a business, they often look at profit margin and its relation to day-to-day operations. In many cases, efficiency, organization, and employee skill sets are linked with how sustainable a business operation is. Operations, materials, and protocols can always be modified, but without the presence of dedicated employees, most businesses simply can’t create a model for long-term success.
7. Employees are the most important asset of your organization.
While profits are always important in the business world, nothing can replace a talented, devoted workforce. Employees bring a range of contributions that simply cannot be duplicated — intimate knowledge of the company, diverse socio-economic understandings of how the business fits in with the community, creative problem solving skills, beneficial interactions with customers, and an insider’s perspective on how business can be improved. But above all, employees harbor something that’s simply invaluable: the desire and skills necessary to help the organization succeed.
Employees Can Add Great Value
By doing the everyday work, supporting business goals, spotting room for improvement, and being a company advocate outside of the workplace, employees wield a lot of power and add excellent value to their organization. Understanding this potential is a must for any business to gain traction, grow, and succeed.
This article is sponsored by Skylar Ross.
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