Why YOU are important to your company!

“Companies that are strong in hiring, retaining and developing workers prove to be time and time again, more successful and innovative than their competition.”

By: Zack Larmand, Online Staff Writer

Are you happy at your current job? This is a problem in many companies as investing in people is one of the most strategic ways for businesses to get ahead in the future. It is not just a societal benefit but the idea of social capital reflects the ability to harness collective energy. Combined with the trend of a growing knowledge economy, companies that are strong in hiring, retaining and developing workers prove to be time and time again, more successful and innovative than their competition.

So why is it that businesses are always updating their equipment and investing heavily in sales and marketing solutions instead? In simple terms, it is because these projects are EASY to implement. However, businesses that understand the true value of their organizational assets will recognize that their human capital resources hold the most potential for growth and profitability. This is now more relevant than ever before the knowledge economy is continuously expanding and is a sizable portion of Canada’s GDP already.

But social capital is more than just compensation and perks; social capital by nature is something that must be accommodated and convened.  This community sense fits well into a business as it  pushes employees to not only work harder, but also enjoy their work at the same time. So how do businesses effectively create an enhanced feeling of community for their workers? In order to achieve this goal, it requires the company to spend on social activities such as office parties and community projects, which matches with the values and interests of employees.

The fact that society is the true beneficiary of accumulated social capital perhaps exposes a problem concerning obligation.  Should we as a collective society be more concerned about how businesses operate?  The relationships built within a work setting set the tone for how communication will take place.  These enhanced communication skills will extend from the workplace to community life.  Workers whom feel like they belong and foresee a satisfied and functional future at work are much more likely to benefit society in other capacities as well.

For those people whom politics is not an option, any civic capabilities would be fostered at their job.  Politics in Canada is not a distinguishing factor for citizenship, and volunteering cannot claim that title either.  It seems that paying taxes grants one their right to be a citizen, and the money to pay for taxes come from ones job.  It might be a free and private market, but the community is nonetheless built upon it and workers who feels socially engaged at the workplace can credit an added sense of accomplishment to their salary.  The more a business includes and understands their employees; social capital is strengthened hereby benefiting the community, the business, and the individual.

By Zach Larmand, Online Staff Writer

The ARB Team
Arbitrage Magazine
Business News with BITE

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