As a Business Management specialist, I have had to do series of study on business resources and secrets of business success. In all my studies and work, I have always come to the knowledge that the most important of business resources and the major secret of business success is not the sophisticated technology in place, the strong connections, the amount of financial power of the business owner or what have you. Rather that every business success or failure, hinges on the human resources available at his disposal.
A friend once said that the reason one of the banks here in Nigeria was doing well more than the others was because of the sophisticated technology it had put in place, especially in the area of internet banking. I said No ! I do not agree. To start with, those equipment were suggested by the staffers of the bank. It takes the staffers to make the machines operational. It also takes the staffers to tackle problems when they occur. Without humans the machines will forever be what they are – machines !!!
In all sectors of the economy workers are not treated as the goose that lays the golden eggs. What you have is mass exploitation of workers and in some cases, a complete disregard for generally acceptable standards for human treatment. Ranging from high rate of retrenchment/dismissals to inhuman treatments to unreasonable working hours to working-365 days a year to zero-welfare schemes, and very unreasonable salaries. The golden goose has been turned to the one that only lays the golden egg and it ends there ! Should it be so?
In such organisations, there is very low morale, low productivity, high tendency to cheat or defraud the organisation, very low dedication and loyalty from employees, constant grumbling and dissatisfaction, very low tendency to be creative and very high staff turnover.
However, thumbs up for those organisations that see and treat their workers as truly the geese that lay the golden eggs and therefore have to be well nurtured for better production. These organisations are noted for excellent welfare policies (all of these or most of it) – free meals, all-expense-paid holiday trips, free accommodation, staff bus services, subsidized acquisition of home appliances, bonuses, excellent health services, scholarship for children of employees, humane treatment of emloyees, excellent award/reward system and salaries that makes vacancies to be very scarce in such organisations, amongst others.
Such organisations have very high staff loyalty, highly motivated work force, high productivity, creativity, dedication to service by employees and very low or insignificant staff turnover. Except for very strong reasons, why would one want to leave such organisations ?
I am one of those who see staff welfare expenses as investments, because that is exactly what it is. This is always an investment that always yields good returns. If you want to find out the results of having or not having a good welfare policy in place in an organisation, check out those organisations that either have them or do not have them in place. The results are so easy to see.
Thanks for your time.