The Non-Use of Intellectual Capital
“In a knowledge-based society, brains will always beat brawn. We all know that. But just how much of a company’s intellectual capital is really used? If your organisation is normal, and by God we hope it’s not, the answers usually range from 5 to 15 per cent.”
Riddestrale and Nordstrom, Funky Business
When is enough enough?
The figures are just about hanging together.
And you are weathering the regulatory and market storm.
Really, do you need to (seriously) worry about tapping a latent pool of intellectual capital?
But just imagine asking a plant manager how much of his/her equipment was being run at capacity, and s/he sheepishly replied “15 per cent”.
Me thinks that s/he wouldn’t be around long …
I have hung around law firms for nearly 20 years, and whilst I have heard a few partners talk about people being their greatest resource – what else is there? – I don’t recall a single firm having people development as its number one goal.
Just imagine if you were to describe your firm as “a life success business”. I certainly know one business that describes itself that way.
Partners keep battling with the same old, same old stuff. But for me until they focus on developing every person to their maximum potential, then they will be forever stuck.
Outside of the legal world, just look at our achievements.
They are stunning.
People first, second, third.
It’s not a case of money but of attitude.
If you are in a leadership position, what will you do today to elevate someone up to the next level of their personal development?
How much do you really care about your firm’s intellectual capital?