The Secrets to Asset Protection to Protect Your Human Resources Assets

Asset protection comes in many different forms. At its most complex asset protection will include such things as multiple legal entities and trusts. Whilst at the other end of the spectrum, asset protection also include such mundane items as insurance. One area that is not considered very often, however, are human resource assets when it comes to asset protection. And it is this area, that I will be considering in this article.

Okay, so what is asset protection as it relates to human resource assets? It is a fact that the number one asset of most businesses is its staff. And depending on how hard they work, their efficiency, and the way that they are perceived, will also tend to indicate how successful the business will be. What this means is that when considering asset protection strategies, a business should not only be looking in terms of protecting their cash assets. But also in terms of looking at measures that could control, protect and nurture their human resources assets.

There are several ways that asset protection can be applied to human resources. Firstly, there are contractual ways that it can be applied. So for example, a good first step in any business is to establish which of your staff are key staff and then lock them into binding, longer term contracts.. Now, it is common when entering a business and asking the owner of the business which of their staff are 'key', to receive the answer. "All my staff are key". And in some ways this is correct, because all of the staff and do add to the bottom line of the business. But in reality, the staff that you employ in your business all still follow the Pareto principle, which is that 80% of your results, come from 20% of your actions. What this means in terms of staff hiring, and in terms of asset protection when it comes to your staff, is that 20% of your staff, produce 80% of your results. So you really need to identify which are the 20% who are having a massive impact within your business.

Considering asset protection within this framework, it becomes increasingly clear that there are relatively small amount of human resources assets. That actually produce the bulk of your profits. And when you start to realize this is also the time when you start to realize that you need to put measures in place, in order to keep them. Because they are worth far more to you than you can possibly imagine.

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