During the Coronavirus Crisis I was working for a digital marketing agency. Being forced to work from home for a few months was not an issue, as we were digital already. We didn’t need anything from the office environment except the nicety of seeing each other face to face. Our material assets were tiny compared to the worth of the employees.
My department once belonged to an entrepreneur. We had around 130 staff and he sold us for $38 million. Or around $300K per person. Apart from our ability to leave, how different is that than the trade of slaves? It was the sale of our people (and systems, and customers).
I’m not saying it is slavery, of course not, it is just that the capitalism model has changed. Originally profits were meant to be reinvested in plant. That is why in accountancy, staff aren’t in the asset column. It needs a modern made-up term called “goodwill”.
What would happen if, and only in a situation of a business being sold, the employees collectively decided that they need to be given part-ownership, or they will collectively all quit? This would lower the selling price, which means a business that anticipates this by already having employee ownership in place before selling, can get a better price.
In the gig economy era, where careers are measured in years and not decades, staff loyalty can be attained via employee ownership.
I can see a change, soon, that shows an appreciation and understanding of the value of employees, to counter the trend towards commoditising the hours we work.
If I quit and am replaced by someone of equal intelligence, skills and demeanour, there is a cost to the business I work for. Aside from hiring fees and onboarding, the experience that comes with working the same job for years has value. I would like to see that value placed in the asset column, and open for all to see.
I want employees to be seen, and valued, as assets.