Stakeholder Engagement – do a quick survey

Relationships in a business are not just about you and your immediate manager, or you and your employee, or you and your major clients. You need to manage both the internal and external relationships.

Most managers are good at what they do and know their business very well but sometimes their focus is skewed to one side of the business. This may be due to a perceived lack of time, a presumption that everything is okay, or a lack of interest in non-crucial work.

In order to keep the big picture in mind, let’s do a quick survey. Answer these questions:

• Is your Board or      Executive team effective – do they work well as a team?
• Do you         personally know your company’s major clients?
• Are your clients      happy with the products and services that you provide?
• Does your firm      have a customer service policy?
• Do you reward      your administration, operations and tender process teams as much as the      sales team?
• Do you conduct      an employee satisfaction survey annually?
• Do your      suppliers provide you with more than what you ask them to do?
• Do you      personally go out of your way to be highly recommendable to new clients?
• Do you regularly      take your team out for a casual meal/coffee/lunch/dinner/BBQ to celebrate      good news?
• Is your staff      retention rate equal to or higher than the industry benchmark?
• Does your      business regularly conduct employee performance reviews coupled with      feedback that leaves staff with a sense of empowerment?
• Does your      business incorporate on-going training and personal development for all      employees?
• Do you know when      your managers and PA celebrate their birthday?

If you answer “Yes” to 75% of the above or more, you are well on your way to creating a happy business environment. If you answer “Yes” 50% to 74% of the time, there is room for improvement. If most of your answers are “No”, you urgently need to do something about it because your business is at risk.

Just remember that if your employees are happy, their feelings resonate in what they do and say. They will carry out an outstanding job that others notice. A happy customer is the cheapest form of advertising when they refer your business to others. A well-functioning Board makes your life easier as well.

Talk to us at Lagrou Partners if you could use ‘low calorie, high energy’ stakeholder engagement systems to invigorate your business, culture, and results.