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Morningstar Communications Luminary Blog

Gaining buy-in for business strategy

(Sheri, Social Media, Executive Insights) Permanent link

Sheri's Blog PhotoAs the nation slowly lumbers out of the “great recession,” smart businesses are re-evaluating their strategies for advancing their growth.

Ensuring those among the ranks understand and embrace these new strategies will be critical to making them work. Yet, we regularly see companies overlook their own employees in their eagerness to reach the market. Surprising, since study after study ties employee engagement to improved productivity and performance. In fact, on the other end of the spectrum, Gallup recently found the cost in lost productivity from disengaged employees amounts to $300 billion.

So, how do you encourage engagement?

Demonstrate leadership. Studies show that employees turn first to their direct managers and then to senior leadership for information on where the organization is going and how what they are doing ties to that vision. Make sure to communicate your strategy effectively to middle management, as they will be a key resource to which others in the organization will turn.

Create conversation. Encouraging feedback and giving associates the opportunity to comment, question and share provides a powerful means to achieve engagement. And, with today’s social media tools, finding the right option for your employees to collaborate together is easier than ever. Be prepared for questions, comments and concerns, and respond quickly when they arise.

Communicate, communicate, communicate. There’s an old saying that in the absence of information, people assume the worst. In this fast-paced age focused on transparency and authenticity, keeping your employees updated on how your new strategy moves the organization forward helps to ensure they will internalize and take action to drive your strategies.




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