While I generally stick to financial matters with my Minneapolis clients, there are times that it serves well to speak into other aspects of their businesses as well.
For example, though inflation seems to be cooling down and the Fed is hopeful for interest rates dropping to 2%, you’re probably still feeling its effects on your bottom line. It’s taken some maneuvering over the past few years to keep your business afloat through burgeoning prices and bloated interest rates.
Here’s why I bring this up: As much as you’re feeling it in your business, your employees are feeling the pressure of inflation too. Anxiety over their job, worries about being able to manage their bills, and the groaning impact on their grocery bill every month.
One way you can help ease their concerns? By being transparent. Employees need to know the true state of things if they are to have confidence in you and the business moving forward.
Your employees are the backbone of your business, holding it up and making it run. They need reassurance and some say in what happens.
So let me ask you today — for the sake of the health of your business: Does everyone in your company have a say?
Something like “giving everyone a say” is easier said than done when you’re making a ton of decisions every week.
A simple way to get a measure of how your team is feeling and to start those conversations is to poll them. And, thanks to AI and other modern technological tools, creating a way for others to share their thoughts is pretty easy and totally accessible.
What you learn from those polls may be the kind of business intelligence you need (in addition to reports and analysis tools) to keep things running smoothly.
So let’s (briefly) take a deeper look at how and why this process comes in handy.
Business Intelligence You Should Collect for Your Minneapolis Organization
“One of the most sincere forms of respect is actually listening to what another has to say.” -Bryant H. McGill
To start, you’re going to need to consider how you want to poll your employees. There’s no shortage of survey services out there. Websites like Poll Everywhere, Survey Monkey, and Typeform are all services that make creating polls easy and accessible. And if you’re not sure how to formulate your own polls, use these AI prompts.
These tools can be used on any device and give your employees the flexibility to answer when works best for them. All you have to do is set up the poll and then send them the link.
It’s helpful to let your employees know when you’d like the poll completed. And remember, the point of these is for your employees to feel heard… so make sure you position them that way.
Generally, your employees will be more likely to agree with you rather than disagree when you’re face-to-face or doing business in the conference room. If you want them to have a safe way to voice how they really feel, a survey can provide the kind of business intelligence you’re looking for.
One voice
Holding onto good employees in modern America has as much to do with them having buy-in as it does pay and benefits. The Great Resignation and the events of 2020 made people realize just how much they value a job where their voice is heard and their emotional needs are met.
And, as I said before, to have a truly healthy organization, employees need to feel permission to express their feelings and concerns.
Now, because polls allow different opinions, you might be concerned it’ll just lead to disagreements. But the opposite is the case. The goal of a well-conducted employee survey is to bring those deeply rooted issues they’re struggling with to the surface.
This underutilized tool will foster conversation as to how your business can learn, iterate, and grow — whether your organization contains 10 employees or 10,000.
Forming “one” voice is especially key if you get the sense that gossip and rumors are circulating around the office (or even your virtual spaces). These less-than-favorable forms of communication only lead to turmoil and frustration.
The truth is, if your employees aren’t getting an opportunity to be heard somehow, the higher the chances of them “checking out” mentally or even taking their talents to a competitor.
So look at conducting some team surveys as a release valve. Also, look at it as a chance to manage any “could-be” problems before they set in and become cancerous to the health of your company culture.
The power of feedback
Whether you are ready to hear what your employees have to say or not, remember that feedback is how organizations grow.
When C-level execs think they know every component of the operation, they might be missing something crucial from the ground floor. In actuality, CEOs may have a lot to learn from the customer service person if they take the time to listen. This is the kind of business intelligence you don’t expect but it can be the insight you need to drive meaningful change and innovation.
When you create the surveys, don’t leave anyone out. Include everyone. Also, make sure to conduct them regularly whether weekly, monthly, or quarterly. Getting feedback and giving feedback should both be done consistently.
Also, keep in mind, that getting feedback means you listen. It doesn’t mean you have to listen and act on everything everyone else wants, regardless of whether it’s a good idea. How you use the feedback is entirely up to you.
Feel there’s a communication disconnect in your Minnesota business? Get a poll made for your team and give them a voice.
Try it. What you get out of it might be more helpful than you imagine. And they might also draw out the next great business initiative you haven’t yet considered. You’ll empower your workforce, and maybe get business intelligence that could shape your company’s future.
Your business financial partner,
Grant Daffin