Businesses generate sales with the resources they have. Resources in this case refer to anything – living or non-living — that has the capacity to make a business ramp up revenue from its everyday activities.
WHAT IS A BUSINESS ASSET?
In clearer terms, a vehicle, for instance, used for business stock delivery purpose is a business asset. The inventory items a business has in its warehouse for sale are also resources.
In fact, a customer list containing dependable buyers which a business gathered over a period of time is also an asset. This is because if a competitor possesses it, they could make sales from it too.
Furniture and generating sets are also assets because they make operations which drive possible sales.
ONE INVALUABLE BUSINESS ASSET
But there is one asset that is invaluable for every business to remain in business. It is the human resources.
Employees are the most invaluable asset any business has to stay in business. In fact, there is no business if there are no employees – at least, one person.
This is because employees drive everything about a business. It is most advised to protect this asset especially where they are the right hands.
HOW SHOULD YOU HANDLE YOUR EMPLOYEES?
1. Remunerate them well
Just as you maintain your business vehicles, you also need to ensure your employees are well remunerated if you must keep them. Adequate remuneration is relative to business, its sector, the service that employees render, amongst other things. Ensure you fix this well.
2. Treat your human asset well
Good treatment of employees is not limited only to salary payment. It also includes other non-material considerations like respect, courtesy, motivation, empathy and knowing what bothers them on and off the job. They are invaluable so you have the duty to treat them well if they must give the best to the organisation.
3. Invest in them; train them
If there is any asset that needs to be primed to deliver the best result in a business, it is the employees. Train them if you want them to be at their best.
4. Make them feel important
On a last note, make your human asset feel important. It will make your business important to them too!