People are the Strategic Asset of a Business

People are the Strategic Asset of a Business

Insights | 12 September 2018

People are the critical contributors to the value of a business offering. It’s the reality of the world we live in today. Your people are the centre of organisational performance.

Every market leader knows that talent unlocks a competitive advantage.

However, given the pace of change and the fact that companies are constantly transforming and evolving in order to remain competitive in the landscape, the relationship between leaders and their people is changing.

How do you unlock your most important investment and make people the ‘secret sauce’ in your business?

For me, these are the two ingredients that help unlock your people asset:

  1. Discover the hidden talents of your people.I always get surprised when I find out that a person in the business has some special skill that is not known to me. Conduct a skills-based audit on your people, then tap into those talents. Businesses need to spend time discovering those talents. It’s also financially beneficial to leverage the internal skills in your business rather than buying skills that already exist in your own people.
  2. Spend more time in the hiring process.

    Employ people who are willing to learn and are full of integrity. Hire people who are empathetic and are proven team players. Also, in this time of accelerated change, ensure you determine how ‘adaptable’ people are in the interview process. This will support the ongoing innovation in your evolving business.

These two actions can assist in allowing people to consistently do their very best work, repaying your confidence with increased output and innovation.

How does your company nurture the existing talents of your employees? Share your thoughts in the comments below.

About The Author

Ken Sheargold, Chief Executive Officer at PM-Partners group

Ken joined PM-Partners as a Transformation Consultant in February 2016 and took on the role of CEO on May 8th 2017. Ken is responsible for delivering major transformational change where there is complexity, risk, many inter-dependencies and conflicting priorities.

Prior to joining PM-Partners group he held a number of executive appointments in the NSW Government and Telstra Corporation.

His most recent appointment in government was the Executive Director, Premiers Implementation Unit directly responsible for supporting the Premier in the delivery of his key priorities across NSW. Prior to working in the Department of Premier and Cabinet he was the Executive Director of ServiceFirst, the shared services organisation responsible for the provision of shared services to the central agencies of government.

He was the Program Director and commercial lead for the outsourcing of ServiceFirst that successfully executed contracts with Unisys and Infosys in June 2015 with a total contract value of $235 million dollars.

Prior to joining the NSW Government, he held a number of senior appointments in Telstra Corporation. Those appointments included Executive Director Corporate Strategy and Customer Experience and Executive Director Service Advantage.

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