Low Morale Can Destroy a Company
Elon Musk recently bought Twitter for $44 billion. Now, he could afford it, but that is not the issue. Within a couple of weeks, he reduced employment by nearly three-quarters. Of that number, half were immediately fired, and the other 25% quit fearing they would be fired. Those left are shaking in their boots, as no one knows how many more are still marked for termination.
I saw a story that said the employee morale at Twitter is the lowest it has been and getting worse. Musk has been a savvy businessman for quite a while. Tesla cars and space travel are big hits for him. So, why did he choose this path of employee reduction, which he has never gone down before? Did he overpay for the company? Did he plan this from the beginning?
We will never know. Musk hasn’t returned my phone call in preparation for this blog. But I do know this: The single greatest asset at any company is morale.
Let this be a lesson for every glass fabricator, glass shop, supplier and blog writer. Treasure your people. Worship your people. Guard your people. Keep them happy so they will keep their work level at the point where you make profits.
Some of us dream about becoming multi-billionaires or even a millionaire. You get there by running a great company with great people offering a service the public is willing to pay for.
An afterthought from Paul: I wish our readers a wonderful and safe holiday season. May your family be healthy and safe, may your co-workers love to come to work and may your vendors deliver on time. My sincere best wishes for 2023.