The health and performance of a company is a measurable and dynamically changing set of information, which can be easily created and viewed by management. Many MSP’s have already found that posting call performance, ticket handling times, and managed services metrics, helps to give employees an insight into how they are performing from a technical aspect; but what about the general revenue trend and health of the company?
People by nature are competitive. This is why sales organizations, or departments often post large boards with information labeling the sales leaders and their numbers. These boards are meant to motivate individuals to strive to be at the top and spark the competitive nature of individuals to strive to be better. You see this in almost every industry, even retail and food service industries post motivators like, top sales and employee of the month boards in their respective break rooms or employee common areas.
Though sales and technical performance is commonly shared with employees, most SMB businesses rarely share overall company revenues, growth, or health with the employees that help to make up the business. Since, every person in an organization has a vested interest in seeing a company succeed, sharing this information may help to motivate employees as a team, much like the individual sales and technical motivators do.
The biggest concern that most business owners and managers have for not sharing vital company information is potential animosity. It may be thought that if a company is doing well and employees gain insight into numbers, they may be more likely to expect larger salaries or increased pay for their work. Though this may be an initial thought if this information is posted, it will not be the norm after it is part of normal routine. This means that once you are posting information regularly, it just becomes second nature.
This information becomes significantly important to employees especially if there is a downward trend in the business. This new insight can help to explain management decisions, cut backs in hours, as well as hiring freezes, or any other things that may affect their day-to-day job based on a slow down in business. It also becomes a motivator and visual proof that everyone needs to step it up to increase efficiencies, sales, and revenues.
The easiest way to implement and post this information is by creating a visual graph that can be hung up in employee common areas. Most spreadsheet and word processor programs allow easy creation of these graphs, which can be printed out and posted. Some companies choose to post this information monthly, where others choose to post quarterly. This becomes an internal decision, but note that monthly provides better motivation.
It is recommended to include overall revenues along with the graph, though again this is an internal decision. This can provide indicators and trends as well as insights; providing employees with information that would have only previously come as management hearsay or owner propaganda. It is not recommended however to send this information via email. In email form, the information is less likely to have an impact or be read, and will not be visually represented daily for all to see and discuss.
By providing company performance information to employees, not only are you making them an accountable asset to the business, but you are also running the business like an enterprise. Corporate public companies must divulge all of their numbers and performance publically, giving everyone deep visibility into the health of the company. Your employees will find motivation in the information, camaraderie, and be proud to help the business grow.