INVALUABLE RESOURCES
Today most businesses are in a massive flux due to global economic uncertainty. The west and Europe are worried about energy issues. The Middle-East is culturally confused as well as emotionally upset with certain forces and is struggling to liberate its self by aligning with forces more towards Asia and other regions.
Countries like Afghanistan, Iraq, Iran, Pakistan, Bangladesh and India that are caught in the middle and do not have such strong economies due to their own issues and external influences are very concerned about their own global futures as the dynamics of the world have change and are rapidly evolving but in what direction nobody knows.
Everything to the public behind what the media displays is based upon assumptions with the shifting of power and brokering of regional strength and strongholds between the west & the east. In turn all the stock markets are shaky and even prod nations that host the colors red white and blue are terrified of a certain reality before them – “recession”!
Every organization today is struggling to maintain consistency on their diminishing existing return on investment whilst being unable to control their cost of goods sold due to unexpected realities that have had them in a fire fighting mode for the past fifteen years where they have had no vertical growth.
In these developing economies there is what is known as Black Money and most people in business being unable to declare those source of funds for obvious reasons have established a subliminal parallel economy that moves horizontally.
The same goes for todays’ most invaluable resources – “people”! For the sake of an analogy if one simply looks at consumer banking one will see that at any given bank a branch manager will create a wealth pool for his or her bank and not be given any vertical growth or be rewarded accordingly. Out of frustration and unable to protest they shift to another competitor taking the wealth pool with them and building it more and appreciating its value more. Most of the time these same people will possibly even come back to the same employer at a much higher compensation package.
Now that was a REAL situation! But is this professional behavior practice correct?
Even in family-owned small medium enterprises the only ones that reap the fruits of everyone’s hard work are the owners and those who know how to navigate the politics of business and rather than focus on growth they are happy simply sitting behind a desk not being responsible for anything due to lack of motivation? Thus, nobody grows only frustration.
Rather than hunt for inexperienced young graduates that blunder – companies need to re-invent their way of thinking and re-focus their core values and center them around people. Money, social media, advertising, technology etc. do not run businesses people do! If any organization wishes to succeed today it need to understand the most invaluable resource it already has in re-invest in them sensibly = “people” ! (This does not mean cash incentives or bonus holidays!)
In my opinion the most powerful department should not be a CEO or a COO – it should always be the HR or Human Resources Department supported by a strong learning and development policy. In-fact the HR division should also have the power to dismiss any senior management (even the CEO) if found of mis-conduct and the HR department should only answer to a board of multiple people that cannot influence its decision.
Before making any business plan the HR department should be consulted always so that the company can be advised as to the actual cost of what their strategies will cost in human resources, time and money. I have worked and consulted in HR and I find it extremely sad that ALL people in the organization (any company) treat the Human Resources department like a post office that they can use to do their dirty work.
People especially your existing Human Resource has something that nobody will have – it is experience of the markets – they only need to be trained by professionals that will teach them the modern-day skills focused around attaining and maintaining a steady ROI if not appreciating it! - If a company will have faith in its HR division and entrust it to deliver quality then it will – ONLY if give true and absolute autonomy to operate freely.
If a organization is unable to meet its targets financially, then rather than terminate its exiting market experienced non-performers and hire inexperienced text book smart college graduates that smell good they should have the courage to accept the reality of the here and the now that the world has evolved and time and people are the most invaluable resources globally today!
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