Maximizing yields from assets is a continuous effort: identifying the right areas, channeling investments, conducting reviews, and constantly looking at new ways to better develop available resources. In other words, it requires focused commitment – but done right, this commitment pays off. A properly developed asset that is nurtured over time is like a blue-chip stock that offers an ever-growing dividend.
Overcoming the “intangible asset” conundrum
I have been in technology for almost two decades, and something that always irks me is the little value we place on intangible assets such as human or intellectual property. Everyone looks for a bottom-line impact where the numbers are clear; however, assets such as organizational capital, customer capital, and human resources are just as valuable. I believe with new technologies such as Cognitive Computing and Big Data, we can start assigning values to these precious assets and finally quantify their benefits.
Every asset is a critical cog in the organizational wheel
By developing the various asset types (human, financial, technological and intellectual) and combining them wherever possible, we can action a synergistic, multiplier effect on outcomes. A yielding asset like human talent coupled with another yielding asset like a specific technology results in more than just 1 + 1 = 2. It provides more yield than two standalone assets on parallel tracks, showing outcomes to the tune of 2.2 or 2.4 or even 3.2.
Retaining assets in a candidate-centric market environment
“Very soon in most North American markets, millennials will make up >50% of the workforce. They and future generations demand a “frictionless” experience,” says Phil Armstrong from Great-West Lifeco, now known as Canada Life. This will make it even harder to keep well-developed human assets within the organization – especially if you are still following traditional structures, marked by hierarchy and red tape. To retain assets, employees must be empowered at different levels and entrusted with key decisions, without facing undue friction. These well-developed, high-yielding assets can save organizations precious time in qualifying opportunities.
New avenues for asset development – breaking barriers and ceilings
One does not have to look far to find new ways to leverage well-developed human assets ready to go. The barriers to entering the tech industry are dissolving, inviting more human capital than ever before. The biggest mindset and demographic shift I see are women embracing the field.
“As women, we’ve come a long way in terms of achievements. There is no significant field where you don’t see women creating an impact be it sports, politics, space, science, technology, banking and the list is endless,” commented Akta Jain, Director Enterprise Mobile Engineering at Dell Digital.
I have seen first-hand how different viewpoints, experience, and perspectives give businesses an edge over competitors who don’t invest in this type of human capital. By increasing the diversity ratio, our team was able to reduce attrition from 24% down to 8% to 10%, which is where we are today.
Assured yield benefits everyone
Every stakeholder wants yield from assets, achieved via development and synergy-building. Vendors enjoy it because they can do more with less, improving margins and engaging in more qualified opportunities. Customers appreciate it because it lowers their costs and risks. The service consumed by the customer becomes more enduring and of higher quality, while reducing operational friction – translating into massive time and money savings.