Sure, it’s upper management’s job to make all of the company’s major decisions — but employees still need to be kept in the loop.
Failing to do so can result in major drops in morale, and even productivity.
Here’s a three-part strategy on the most effective way to keep employees informed when it comes to company changes:
- Give ’em the reasons behind key changes. Many people have difficulty with change. To lessen the blow, it’s a good idea to give employees some of the logic behind Finance’s big moves. Example: Sending company-wide e-mails linking to news stories about why certain decisions were made.
- Explain the financial impact of all major decisions. If there have been problems, spell out the costs of mistakes, low productivity, etc. On the other end of the spectrum, show employees the tangible benefits of doing things in a new way.
- Prepare for tough questions ahead of time. If a decision impacts affected employees in a major way (reduction of overtime, furloughs, etc.), be prepared for a barrage of questions. Planning ahead will allow you to provide staffers with the best possible answers.
Readers, how does your company keep employees “in the loop” when it comes to major decisions? Share it with us in the Comments Section.