Establishing how to survive the recession, has been pretty much top of every business owner’s agenda for some time now. A crucial part of that is deciding how and where to cut costs within an organisation.
As the current state of the job seeker market indicates, many companies have looked to cutting staff as a means of keeping costs down. However a recent survey of the quickest growing businesses in the UK suggests that culling staff maybe a short-sighted, and potentially dangerous, strategy.
According to a survey by Wright Collins, of all the successful companies asked, each one stated the number one factor that gave them a competitive edge was their employees.
This was in stark contrast with issues such as branding, marketing and lower process points all of which made the list but weren’t thought to be anywhere near as important as having the right team.
According to Mark Williams, CEO of a pharmaceutical firm involved in the survey; “Your team is the most important aspect of your business.”