At Finnies we can advise on many aspects of business life. You can often find that greater profitability can be unlocked by consulting your own staff.
In 2005, an EC Directive on informing and consulting employees came into force, giving many employees new rights to be consulted on key issues affecting the business or work organisation.
In fact, asking staff for their input can have a number of positive benefits for your business, as outlined below.
Your staff are your key business asset. They know your business, and can highlight practical issues that arise on a day-to-day basis, helping systems to become more efficient and cost-effective, and identifying opportunities for generating new business.
Involving them in the business strategy will also encourage team ownership of projects, and enables all parties to understand their role in achieving the firm's key goals, creating a profit culture throughout the business.
Group consultation assists internal communication, and allows employees to feel more informed about issues affecting them. These factors in turn have a positive effect on motivation and productivity.
Here are five ideas for encouraging your employees to give their input:
Remember to tell staff when you have acted on their ideas. Employees will appreciate the fact that you are actively seeking their opinions, and will be encouraged to continue looking for ways in which the business can become more profitable.
If you are looking for support and advice from a team of professional accountants and business advisers, contact Finnies.
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