Recruit, Recognise, Reward and Retain

Kevin Golder Managing Director of Human Resource Solutions Offshore Limited says being successful in business is all about the four Rs.

Having worked for a substantial number of years in various management roles and more latterly as an hr specialist I am frequently disappointed by companies that misunderstand what makes their company tick. When considering the market value of their business, many are unable to look beyond its tangible assets, such as money, property and equipment.  Often overlooked, are the intangible assets, the intellectual capital that comes in the form of the knowledge, skills and abilities of  employees.

 The more enlightened amongst us follow a different school of thought; A Company Chairman once said. It is our view that if you leave behind our money, buildings and brands and take away the people, our Company will fail.

But, on the other hand, if you take away our money, buildings and brand – but leave behind our people – then we have a chance, and can build ourselves back up to a position of strength. Followers of this doctrine – those who appreciate the importance of quality employees and colleagues – will understand just how crucial it is to recruit the best, to recognise their strengths and achievements, reward them accordingly and, last but not least, set in line a strategy that guarantees the retention of key individuals.

Despite the complexities of your business and the choices ahead of you in the implementation of this strategy a fundamental for your organisation will be to generate enhanced capability by ensuring that you have a skilled, committed and well-motivated workforce in order to achieve a sustained competitive advantage.

Western culture places heavy emphasis on gainful employment – ‘work’. “And what do you do?” is a question we all ask and are asked when meeting new people. The problems faced by some newly retired or redundant employees often stem from their being excluded from work, which is important beyond itself for the self-esteem, status and sense of belonging it brings.