Instead, what you hear is, “people are our biggest asset.”  In fact, if there were a hall of fame for hollow phrases, this one would occupy a prime position in the section honoring corporate-speak. 

The reason this phrase sounds so hollow is that hardly anybody means it when they say it. What they really mean to say is that talent is their biggest asset.  In a world of increasing competitiveness, talented people can make the difference between success and failure.  Anyone in the learning and development field can attest to the fact that creating a strong, high performance workforce is something that takes hard work and dedication.  The investment in the workforce can transform the raw people resource into a high-value asset.  Without that effort, however, those “people” can be a significant liability for various reasons.  

For example:

1. “People” that don’t have the skills or experience needed to deliver on the organization’s strategy. 

2. Having too many “people”.

3. Having “people” in the wrong places.

I think you get the idea.  

When organizations lay off workers, they are essentially reacting to one of these or similar realities and, one could argue,  admitting that, for the moment, “people are our biggest liability…”  It just woudn’t be too popular for them to say that!

Clarification: In my previous post I commended companies with the strongest talent management practices in part because they have leaders that “express the belief that talent is their greatest asset…” I was choosing my words very carefully.  The leaders in these companies have moved beyond the empty phrase, and approach talent decisions with this more informed persective.