ARE PEOPLE ASSETS ?
Today something peculiar happened !!!!
This 20 something girl, a new recruit in the organization, sent me a message that she would like to spend some time with me… only if I can spare about 15-20 minutes. Her message said that she had some doubts.
When one grows up the executive ladder, everything seems as simple or complex as an “Excel sheet”. But, in reality, some of the simple stuff can “shake the boots off the earth”.. let me come to the context now.
This girl asked me a simple question – “Why do you always say that people should be assets? Can people assets also depreciate? How do I ensure that my asset valuation increases from hereon?
The moot question is – During the daily course of our sermons, chiding, mentoring of the younger team members, we do mention on how the service brand & people assets need to be improved. How does the asset in question increase her / his own valuation, without the assistance from other elements? Are other liquid asset classes able to increase valuation without human intervention?
I took some pains to explain to this girl on what do I mean by people assets? – A fairly simple theory that I have evloved is to read any asset as one that delivers the most benefits, many not necessarily have the most features. For example, if all mobile phones are used to talk to another, why do people buy diamond encrusted phones? Is that because the dont devalue as much?
Human assets, like we all have been taught, have three elements to develop….. ATITUDE, SKILLS, KNOWLEDGE….. my question is (which also is my answer) – which of the above does the asset require human external intervention to increase its valuation? Is it help, coersion, mentoring on developing a positive atitude? Is it help in the area of skills development? Is it knowledge acquisition?
I learnt that this particular girl does not read the newspapers… she says she is good with mathematics, but, wasnt able to answer two very basic questions…. she as much admits that she is receptive only to ideas which she likes…. (or maybe, she was hiding behind her ignorance of other topics, but presenting a more rebellious story…because, main tho aise hi hoon (I am like this) is a more saleable story).
My inference aws – If she is not interested to develop her skills and knowledge, what is it that I can help her on? Can I coerce and convince someone to acquire more knowledge? Would it be worth the effort? If she acquires more knowledge & skills, can she be an asset? THE ANSWER WAS NO !!!!
There was an atitude problem… the atitude of creating smoke screens.. the atitude of not admitting to oneself.. the deep rooted atitude of hiding OR admitting to oneself that there was something wrong…
I dont want to get into technicalities of how I thought I must allow the negative juices to flow out…. before I could inject something fresh….. 45 minutes and a few hundred spoken words later, there was a different glow, and a much more receptive mind……..
I am now sure, that there is one more asset under construction… need to be assisted… intervened… mentored… and the asset moves forwrd.. increases valuation… BECAUSE, EVERY ASSET DELIVERS MORE BENEFITS…. in this case, help my company to do more sales.
he day those benefits stop, ASSETS DEVALUE… dont attract attention… and start the downhill journey.
My learning today is – Better tell the people, HOW & WHY YOU WANT THEM TO BECOME ASSETS !!!!!!
My colleague Ruchika Bhardwaj has asked this question on LinkedIn.
ARE PEOPLE ASSETS?
Assets devalue… they depreciate… they erode their value…. they also go stale over a period of time… IF PEOPLE ARE ASSETS, DO THEY ALSO GO THROUGH THE ABOVE MENTIONED STAGES? My boss tells me that people are the only assets we have, and these assets become redundant the moment they stop delivering benefits…. WHAT FEATURES IN PEOPLE ASSETS DELIVER WHAT BENEFITS? What is the Mantra to perennially increase people valuation?
I am producing my answer here-below… Hope it clarifies some other factors mentioned by me on people assets and how leadership plays a big role in the asset value increment.
During the course of my 17 year career, I have seen the ‘people assets’ appreciate, depreciate and in some cases, the value being eroded. Like any other product or commodity, the people assets are also valued.
When I said that the “assets become redundant when they stop delivering benefits” — I meant that the people resources / assets are taken on board for a specific assignment or job. The corporation appraises out the product (people) features (skills). It defines the asset class as a part of the overall machinery to deliver and end benefit, which could be top-line or bottom line growth for the corporation. In many cases, it could be part of delivering delight or care, which again leads to better profits. For argument sake, if people assets are recruited in a charitable organization, revenue profits may not the be target, but the overall satisfaction quotient… OR the purpose or benefit of meeting the vision.
Let us not forget that even charitable organizations need to meet a certain goal for them to survive & sustain.
I am of the opinion that people resources need to continually deliver the benefits to the recipient, failing which they are likely to be labelled as devalued, depreciated or redundant assets.
On your question of the mantra – I have a very simple notion. Look into the mirror and answer one simple question – “Is my professional DNA matching with the constantly evolving DNA of the business eco-system? Am I good enough on the three parameters of Attitude, skills & knowledge, to deliver benefits to the organization”. Like they say, one never lies to the man in the mirror.
Whether the answer is Yes, or No, irrespective, one needs to evolve oneself and keep imagining future unforeseen situations and come up with plausible answers. It might seem like a wasteful exercise sometimes, but, you would always have a multitude of solutions in your bank, at any time. Also, something thought for another situation can become relevant during the course of the monotonous routine that many of us follow. ANYONE WOULD WELCOME ANY INITIATIVE WHICH WOULD DELIVER BENEFIT TO THE END RECIPIENT, consumer, customer or corporation.
Let’s not forget that during the course of this activity, we are habituating ourselves to be thinking out of the box, while down in the barrel. People definitely are assets… the only difference is that in this instance, ASSETS THEMSELVES DETERMINE THEIR CURRENT & FUTURE VALUATIONS.