It is an undeniable fact that the most precious resource of any organization is its workforce. It has the competence to either prosper the organization to a greater extent or to reduce itâ€™s worth.
Other non-human resources of an organization like capital and fixed assets have a certain limit of their function whereas the human capital is the most versatile form of investment that any company can invest in.
Having said that, it is to be realized that investing in such capital which can give back the results multiplied numerously is always a beneficial deal. When it comes to investing in new skills without investing enough in the employees, it is to be noted that results would not be very encouraging. As, the skills would remain constant while the employees would keep changing without enough expertise to draw the maximum from the skill set installed.
The benefits of investing in the employees has a multifold effect in the betterment of any organization.
- Investing in employees not only gives their morale a strong boost but also helps in retaining them in the organization for a longer period. Having similar work force over a continuous period of time has its own benefits associated with it.
- When employees are not sufficiently trained, they end up leaving the job due to lack of job satisfaction. This reinitiates the process of hiring a new employee which involves recurring costs thus diverting the capital resources to avenues that are less productive in comparison to other more fruitful resources.
- Potential employees perceive a company that invests in its employees in a good light as opposed to organizations that neglect their work force. This criterion assures that most competent and result oriented employees who are self-aware, are on board with the company.
Such employees always prioritize growth prospects of both themselves and the company they work for.
- When employees of the organization are well invested upon for their training purposes, it so happens that vertical growth prospects for those employees become brighter. It is a proven fact that employees who climb up the ladder in an organization from within as compared to getting new employees for higher positions from outside the company always fare well.
They are quite aware of the internal work ethics and conduct code which enables them to swiftly move ahead with the job to be done. They turn out to be the strength in disguise for the organization.
While investing in the employees has the best possible outcome for the companyâ€™s function it comes with its own share of disappointments too.
Once the employees are prepared to take on the newest and toughest possible challenges in the business, it should not be ignored that they are ready to do it for the competitors too. Yet, thereâ€™s nothing certainly black or white in this context as there can be no compulsion laid on the trained employees to not look out for better prospects.
However, there should be utmost passion and sincerity showered upon the training and development of the employees. As what they learn is what they give back. There is a thin line of difference between competitive attitude and attitude that has insatiable need for growth.
Employees who value the work ethics that an organization strives to foster in its environment always rave for the ethics first.
Therefore, it can be concluded that investing in employees is as important as being prepared for the shift that would creep in due to overtly competitive work force without ethics.