Bruce Crager Executive Vice President – Expert Advisory Group
Bruce Crager is Executive Vice President of Endeavor Management and leads the firm’s group of Expert Advisors which have a focus on energy activities worldwide. He has...
It is common to hear companies talk about how people are the most important asset. It is just as common to hear workers talk about being frustrated in their jobs and mistreated by the companies that employ them. Every company needs assets, including their employees, to be successful. Even companies dependent on major physical assets will find these are of little value without the right people to operate these assets and carry out the work.
I have spent my entire career working in the upstream oilfield environment and have found people to be a critical success factor in offshore drilling, production projects and operations, consulting engineering, manufacturing, and service. Most companies talk about adding value for their customers, but they often neglect the fact that the biggest value for the customer may be a motivated workforce that will go out of their way to meet the customer’s needs.
There are numerous reasons why employers should view people as the most important asset. Some top reasons include:
Why would most employees not perceive that they are a company’s most important assets? Reasons include:
Employees should be recognized as a company’s greatest asset. While most companies agree with this in principle, they often do not support it in their day-to-day actions. People can make all the difference in a company’s success and, with a motivated work force, can make up for almost any lack of other resources such as facilities, working capital, and limited products. Every company should make concentrated efforts to meet employee needs and desires in a cost-effective way, so that company performance will be improved. This improved performance should result in better customer service and increased shareholder value. So yes, I believe employees do really matter to the companies they work for and should be treated accordingly.
Part 2 will deal with meeting employee expectations, which is crucial for retaining and motivating personnel in today’s market.