“The economy is bad at the moment. Our business is charting a new path and needs to run operations. It’s not a right fit anymore.” You all have heard this “cliche” phrase from your employer.
Peter Drucker famously said, “Culture eats strategy for breakfast.” Many employers tout that their employees are their treasure chest. A vast number of employers don’t live up to that.
COVID broke every business; model, industry, sector, and global market. One thing that comes to mind is that many people experienced job loss, which decimated their livelihood, and financial situations.
Governments across the developed countries flooded their economies with stimulus checks to keep life going for their citizens.
The government globally kept large employers afloat by providing them with interest-free loans, with lenient terms to beef their balance with an abundance of cash to weather the financial tsunami.
Even after many governments’ efforts, large corporations laid-off people in droves to stay afloat to gain a short-term financial edge during the troubling tides.
Employers don’t exist to increase shareholders’ value; their job is to be anchored within the community and economies in which they operate. Most employers are shortsighted and don’t look at the long-term image of their corporation.
During the COVID mayhem, it became apparent that corporations are cash guzzlers that take in human capital to churn out profits for their shareholders, with the absence of care for knowledge workers employed inside former corporations.
Corporations constantly moan and groan about employee loyalty. The question they would like to pose is that corporations overwork and pay inadequate compensation to their workforce when corporations are doing well.
Corporations must wake up to the fact that loyalty goes both ways. If corporations are asking for loyalty, they must return the deed. Corporations should act more prudently for the long-term betterment of their employees.
If corporations want to win in today’s fast-breeding business environment, they must give more cache to their employees. Why? Because an increasing number of corporations are tech-driven or tech-enabled, these companies don’t have physical assets, as all the assets are knowledge-based. The people with the knowledge are fortified inside the heads of those who work for respective corporations.
Photo by Husna Miskandar on Unsplash
