Profits and sales are good. But in the process of enjoying both benefits on behalf of shareholders,, companies should not forget to also take care of their employees.
They are equally an asset and the driving force of the company.
As important stakeholders, employees should not only be well compensated for a job well done, they should be valued and accorded job satisfaction.
In the absence of this, working employees to the bone like slaves (often times longer than the recommended labour working hours) and owing them salaries for months, will have its consequences.
Staff abseentism and sickness will be rife. Input will drop. Productivity output will also be affected.
Similarly, employee turnover will be rampant. Inevitably, this will significantly affect the market share of such companies.
The competition is extremely fierce out there in the market place.
Companies that fail to value their employees, will find out sooner or later that their most prized asset is now working for their competitors.
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