The most valuable asset of any organization is not reflected on the balance sheet. It is not fully insurable and at times can be hard to replace.
This asset can also represent one of the biggest risks to a firm. It can result in lost revenue and clients and increased expenses. It can personally drain you of income and of energy.
Challenging and time consuming and not why you created a business, your team is the most important aspect of the work you do. Are they an asset or liability?
You know the ones you can count on. Loyal, hard-working, always agreeing to take on what you ask and doing a great job with it.
Then there are the others, brilliant and capable, but somehow just not quite committed or convinced this is where they want to be. They do just enough to keep a seat on the bus, but for how long, and at what expense?
There are those who simply take up space, performing a job and that is it. Perhaps complaining a bit and affecting the morale and enthusiasm of those around them. Your top performers will steer clear, not bothering to ask for support from these people.
Your loyal hard-working group are on the asset side of the balance sheet. But if they are carrying too much of the load, you’ll find them gone or slipping to the liability side doing just what they need to get by…like the remainder of the team.
Your most valuable assets are your people. Your greatest liability can be your people. Which side of the balance sheet is your team on?