People are our greatest asset - or are they?

You’ve heard companies tout this – they’ll even post it proudly on their web sites – “our people are our greatest asset.”  But are they really?  It sounds good and I think a lot of companies truly believe it.

But let me tell you a story about a Fortune 500 company that only hired the best and brightest.  They had talent around every corner.  And yet, when the CEO made a decision – a poor one, mind you – that was based on greed, well it impacted the company’s reputation swiftly and with a vengeance.  The stock went from the 40s to the 20s overnight.  And in the subsequent 4-5 months, it was down to pennies and the company eventually filed for bankruptcy.

You see, it didn’t matter that they had the most talented workforce, that they provided free fresh fruit on every floor, or even that they were one of the “best companies to work for.”  There is something that is just as important – the company’s reputation.

If you don’t safeguard the company’s reputation, it won’t matter how talented your people are.  They could soon be someone else’s talented workforce.  

In the case of this Fortune 500 company, their bottom line bottomed out. That’s a hard lesson to learn.  Value your employees; take care of them and treat them well.  But also ensure that they are supporting and protecting your reputation – from the C-suites to the lobby.  Everyone has a stake.