By Jim Hagarty
2016
Richard Branson, head of Virgin, once said a business owner should train an employee so well that he could leave him. Then treat him so well he wouldn’t want to.
I have seen this principle at work so often, usually in a negative way. It’s incredible to watch a company invest time and money and sometimes years getting an employee all ready to walk across the street and go to work for the company’s competitor. Or even worse, to start their own competing company with their newfound expertise. All because, having invested in the employee, the company then insists on failing to value him. Low pay, little stature, few benefits, punishing work schedules.
The competitor across the street takes notice of the man’s value and hires him away from the place which gave him his start and his skills. The competitor is happy to be able to take on the fully trained but undervalued employee, allowing them to bypass the apprenticeship. The competitor treats the man well and keeps him.
Meanwhile, Company A repeats the mistake over and over and soon falls behind, often going out of business in the end. Penny wise and pound foolish.
All companies are only as good as the people they employ. It is amazing how often true value is chased out the door to save a few bucks. I patronize a business in my town which has kept a steady and happy workforce for years. It’s the most solid enterprise I’ve ever seen. A chance meeting with the owner tells the story: That man is a gem.
