Do you get stressed because you’re not quite sure those around you are really invested in doing the best job they can? You’re not alone. I know lots of business owners who share that same concern. This is part of the reason why many tend to be control freaks who burn themselves out over time.
But before we start looking for solutions, here’s a question I challenge you to ask the people around you. “How does this place make money?” In other words, can they explain the business model? When money comes in the door from a sale, where does it go? How is it distributed? How much is left at the end? What impact do things like, waste, mistakes, overtime, unnecessary meetings, and so on, have on the ability of the organization to thrive? Chances are, you’ll get a blank stare from the majority of them.
I have challenged thousands of employers attending my speaking engagements to ask this question. While it might seem rhetorical, there is a very practical purpose. Part of the reason why many individuals just do their job without a lot of investment is because they are not really connected to the essence of the business. Yes, show up on time. Yes, do the work assigned. Yes, collect a paycheck and, for the most part, yes be happy you have the job. In a lot of cases, they don’t really understand how the business works or how their role in it contributes to the overall function.
When you get employees thinking like owners, they are more likely to be mindful of waste, offer suggestions for improving processes and other efforts that save money and improve customer service and retention.
Is this hard or time consuming to do? Not really, you can build this information into daily functions and gatherings. Here are a few examples.
Here’s a few examples. A heavy construction firm I worked with, think roads and bridges, created a video explaining all the steps involved, from sales and estimating to finish work. This way, everyone involved could see how they contribute to the overall project.
A restaurant owner I interviewed, meets with his servers at the beginning of each shift. He explains the specials along with the food costs and overhead. That way the servers understand how little mistakes like dropped plates and missed charges impact the store’s bottom line and, downstream, their compensation.
An auto dealer bought everyone pizza and explained to them the actual revenue and expenses of selling several of their popular models. This impressed on them how critical customer service, financing and service income is to the profitability of the dealership.
Business owners are sometimes reluctant to share, what they consider, critical information for fear that it will fall into the wrong hands, be stolen by the competition, used to start a competing business, or used against them during contract negotiations. Sure, any one of these is possible, remote, but possible.
But which would you rather do – Be able to walk through the business every day, proud of how those who work for you are emotionally invested in what they’re doing or be looking over your shoulder for fear that the people working for you are out to get you or simply don’t care? It’s your choice.
What do you do to engage the people within your firm and keep them connected? We’d all like to know. Share your ideas in the comments.